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August 2004/1

  • Lloyd's has today (12 August) had its financial strength rating upgraded to "A" (Excellent) from "A-" (Excellent) with a stable outlook by ratings agency AM Best. The agency said the rating, which is now in line with Standard & Poor's "A" rating, refl
  • Despite growing calls for Lloyd's to shrink capacity next year, evidence suggests that many syndicates are keen to maintain their own size. Lloyd's insurers have begun the process of entering their 2005 business plans to the Franchise board and many s
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Refocused UK general insurer Royal & Sun Alliance (R&SA) reported half year figures slightly ahead of forecasts on 12 August, and saw its share price rise 5.5 percent as markets and analysts took a more bullish line on the group's capital position and fut
  • Weeks after an Illinois Court gave the green light for a national class action suit to proceed against Aon over alleged hidden commissions, came news that class action giant Millberg Weiss Bershad & Schulman LLP is suing Marsh and Willis for failing to di
  • Despite ringfencing, ACE considers purchasing further cover for run-off asbestos unit ACE Ltd is examining ways to resolve its asbestos exposures which have dogged the insurance giant since its $3.45bn acquisition of Cigna's non-life business in 1999.
  • JLT is to establish a separately branded company Lloyd & Partners to focus on business produced from independent US retail brokers. Traditionally one of the strongest performing units of the London headquartered broker, JLT's management moved after rec
  • The Insurance Insider’s analysis of each quoted Lloyd’s insurer - some of whom were targeted by Capital - shows some are more ripe for consolidation than others... There are 14 quoted insurers - with a total market worth of around £3.8bn - that are eit
  • Berkshire Hathaway backed Lloyd’s consolidation vehicle withdraws AIM float after failing to generate sufficient investor interest. The Insurance Insider analyses what went wrong... On a sticky Thursday afternoon in late July, the management and advis
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Q2 results re-ignite old arguments between Fairfax bulls and bears... Analysts have again drawn sharply opposing conclusions about the liquidity of Canadian financial services holding company Fairfax Holdings after it published its Q2 2004 results.
  • Last month's shock $385mn US casualty reserves bolstering and profits warning fed through to hit reinsurer Converium's half year results hard, with a second quarter operating loss of $300mn and net loss of $660mn taking the year-to-date figures to $223mn
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