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December 2001/1

  • Overseas investors form new association to demand radical change in the market's structure and cost base which could see the demise of traditional Names Heavyweight Lloyd's insurers are demanding that the market radically restructure, giving rise to fe
  • English can often be misleading, so we have rustled up a guide to aid understanding to the minefiled of Lloyd's business jargon. This month it's the opaque business desription:
  • Heath's Humbling In the past year the pendulum of influence has swung away from the brokers, and back to the underwriters - hence insurers growing reluctance to renew volume commissions to the larger brokers and the old fashioned insistence that produc
  • As corporates reinforce their dominance of the capital base, the number of syndicates falls below 100 with Names facing a realistic chioce of twenty The Lloyd's market for 2002 is beginning to take shape. Some managing agents have taken advantage of th
  • A Tidal Wave of Capital - David Schiff pours on the cold water The capital markets are efficient - in an irrational way. Capital flows towards opportunities that offer superior returns. Paradoxically, those superior returns can fail to materialise if t
  • Reinsurance is back in favour and, with generous subsides, Zurich's unwanted R/I division should enjoy a successful floatation. For sale. One reinsurance company no longer wanted by owner. Embarrassing exposures to Unicover after failed fronting arrang
  • Unsurprisingly, syndicates specialising in aviation and property excess of loss have demonstrated the worst deterioration in forecasted results since the 11 September attacks, according to research by Leadenhall Insurance Consultants.
  • Long term London market player, Copenhagen Re (Cop Re), the reinsurance subsidiary of Danish insurance group Alm Brand, has become the first major provider of Lloyd's syndicate reinsurance to succumb to the losses of the 11 September World Trade Centre at
  • Massive boost for Lloyd's, but Names can't benefit Stephen Catlin, the former dentist and chief executive of Catlin Underwriting Agencies Ltd, is negotiating a $750mn capital boost in Catlin Westgen Group Ltd, the holding company of Catlin Underwriting
  • The impending collapse of the Japanese backed Fortress Re pool with over $2.3bn liabilities has increased fears of bad debt in the international aviation market Anybody “that writes airline business will be affected by this, some in a very big way. Hun
  • As widely predicted, Lloyd's increased its estimated net exposures to the WTC attacks by forty-five percent from £1.3bn to £1.9bn. As a consequence, the market has increased its estimated losses for the 2000 year from £0.7bn to £1.49bn. And increased its
  • Equitas are still facing a rising tide in asbestos claims according to their results for the first six months of 2001.
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