August 2007/5

Lloyd's (re)insurer Kiln plc has improved its outlook on three of its four trading syndicates in 2005, the company confirmed last week.

French reinsurer SCOR Group revealed a 55 percent increase in its gross written premium during the first half of this year, primarily driven by its acquisition of the life reinsurer Revios.

Swiss reinsurer Converium Holdings posted a 58 percent half-year increase in its net income of $197mn in its final results after being acquired by SCOR Group earlier this year.

US giant Travelers' Lloyd's operation is set to become the latest managing agency to establish a Singapore presence through the Lloyd's Asia platform.

The $45mn loss of a plane in Japan last week has pushed the airline sector closer to a tipping point, according to aviation analysts Ascend.

The unravelling of the "Spitzer" agreements made by the former New York attorney general and the global brokers in 2005 continued last week with news that Willis Group could also start charging fees to insurers.

The Spitzer fallout continues for Marsh & McLennan Cos (MMC) with the filing of an anti-trust lawsuit by the state of Ohio against the world's largest broker, along with American International Group and three other insurers.

The current crisis in the money markets has led to insurers cancelling planned debt issues, Insider Week can reveal.