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August 2005/6
  • Katrina update: Hannover expects €250mn hit from Katrina
    German reinsurer Hannover Re became the latest company to release its estimates of losses from Hurricane Katrina today, warning that it was expecting a “loss burden” of €250mn before tax.
    02 September 2005
  • UK solvent schemes given boost with M&G Re decision
    Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme yesterday.
    02 September 2005
  • S&P now threatens to downgrade Alea Group
    Shares in London-listed reinsurer Alea Group slipped further today after Standard & Poor’s (S&P) warned it may downgrade the reinsurer following its disappointing interim results earlier this week.
    01 September 2005
  • Troubled Alea in $210mn equity rights issue
    UK listed insurer Alea Group Holdings has suffered a steep decline in its share price after revealing a 47 percent slump in first half 2005 pre-tax profits today (31 August).
    31 August 2005
  • Katrina to hit profits at Hannover Re
    Hannover Re has warned that the cost of Hurricane Katrina would mean the world's fourth-largest reinsurer is unlikely to meet its profit forecasts for 2005.
    31 August 2005
  • Massachusetts A-G investigates White Mountains subsidiary
    Bermuda-based (re)insurer White Mountains Insurance Group Ltd revealed last week that the Massachusetts attorney general is investigating one of its units.
    30 August 2005
  • Katrina leaves devastation in its wake
    Hurricane Katrina is still expected to be the most costly in US history with forecasts of up to $26bn in claims after the storm devastated Louisiana and halted offshore oil and gas production.
    30 August 2005
  • Europe hit by floods and fire
    Extreme weather conditions hit Europe last week with insured claims for flood damage in Switzerland alone estimated at $395mn by Swiss Re.
    30 August 2005
  • Rate rises possible after spate of air crashes
    Last week’s Peruvian air crash will cost insurers £3mn but the repercussions of the five air crashes this month are multiplying.
    30 August 2005
  • Kiln forecasts hide no surprises
    Lloyd’s insurer Kiln forecasts for the years 2003 and 2004 were released on 24 August and contained no real surprises.
    30 August 2005
  • Beazley benefits under new reporting standards
    When Lloyd’s insurer Beazley Group plc reports its 2005 half results on 7 September, they are likely to be higher than expected at over £35mn because of the impact of accounting changes, the company explained last week.
    30 August 2005
  • Steady SVB trading update meets mixed response
    SVB Holdings, the Lloyd's insurer battling against its legacy liability exposures, issued a steady trading statement last week but still saw its corporate broker downgrade the company’s full-year earnings forecast.
    30 August 2005
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