August 2006/1

The conflict in Lebanon has prompted London market cargo underwriters to increase additional premiums by as much as triple on shipments to Israel, according to Aon Corp.

Heritage Underwriting Agency plc has become the latest specialist Lloyd's insurer to list on London Stock Exchange's Alternative Investment Market (AIM) after trading in its shares began last week.

Over 80 percent of brokers believe that maintaining profit throughout the insurance cycle is still the greatest challenge for the insurance industry.

Bermudian life reinsurer Scottish Re was hit by a $130mn operating loss, a slew of downgrades, the collapse in its share price and two senior resignations last week.

The continuing popularity of reinsurance securitisations was reflected this week with news that Bermudian (re)insurer Endurance Specialty Insurance has acquired $235mn of multi-year, collateralised US natural catastrophe reinsurance cover from...

US insurer HCC Insurance Holdings reported "record" results on 3 August and at the same time announced its latest acquisition, the medical insurance division of Allianz Life.

French giant AXA said it had produced a "strong first half" performance with underlying earnings up 19 percent to EUR2.1bn.

"Class of 2005" start-up Lancashire Holdings Ltd has invested $20mn in a new Bermudian sidecar operation named Sirocco Re, it announced today (7 August).

Bermudian giant XL Capital last week (1 August) announced the latest step in a series of organisational changes with plans to develop an integrated European platform for its reinsurance operations.

Jardine Lloyd Thompson Group plc (JLT) plans to overhaul its staff pension scheme in a bid to reduce the £146mn deficit which hangs over the company.

South African broking group Alexander Forbes is thought to be close to a deal on its London based international arm, according to sources.

Willis Group Holdings threw down the gauntlet to rivals MMC and Aon Corp with a solid quarter that included a ten percent organic growth in revenues and details of a new $1bn share buyback programme.