August 2005/4

Lloyd’s has received a request for information about finite reinsurance from the Securities and Exchange Commission and the office of New York attorney general Eliot Spitzer, it emerged today.

Nicholas Gooding, head of underwriting review at Wellington Underwriting, has resigned from the Lloyd’s insurer, Insider Week can reveal.

Lloyd’s insurer Illium Insurance will now expand its 2006 capacity through a consortium rather than a pre-emption, Insider Week can reveal.

Broker Willis has had its licence reinstated to accept new business in Guangzhou, China.

Standard & Poor's (S&P) affirmed its affirmed its “BBB” counterparty credit and financial strength ratings on Fairfax Holdings operating insurance companies and its “BB” counterparty credit ratings on Fairfax and Crum & Forster this week.

Tropical Storm Risk (TSR), the consortium of experts on insurance, risk management and seasonal climate forecasting, today (15 August) increased its forecast for Atlantic hurricane activity in 2005 by 30 percent.

The London-based Cooper Gay Group have teamed up with Michael W Cashman to form a new reinsurance brokerage firm that will focus on the North American Treaty Reinsurance Brokerage market, Cooper, Gay and Cashman.

German insurer Allianz AG announced a strong Q2 group profit last week after being boosted by a much-improved performance from its troubled banking arm.