December 2003/2

As downgrades continue to hit insurers blighted by adverse prior year development, one member of a shrinking club of highly rated US insurers enjoyed an upbeat November as it unveiled record third quarter results and announced its investment in Lloyd's pr

As the renewals season rolls on, the world's largest insurance broker Marsh has outlined its terms for placement service agreements (PSAs) - off slip payments from underwriters to brokers in return for a guaranteed proportion of business or profit.

Benfield is likely to report lower than expected results because of the weak US dollar, according to the broker's latest trading update.

Exits and contractions outweighed by start-ups and syndicate growth

Industry financier Sir Laurie Magnus has warned that the London market is in danger of being overtaken by US and Bermudian insurers unless it works to improve its claims processes and standards of professionalism.

Inhabitants of the Caribbean and the US East Coast should expect another active Atlantic hurricane season next year, weather experts have warned.

Swiss Re, the world's second largest reinsurer, will no longer write Lloyd's international casualty treaty business, The Insurance Insider can reveal.

Despite the old adage that losses from bad years only get worse, latest estimates from Lloyd’s syndicates hold out hope that the awful 2001 underwriting year may yet plateau.

Marketform Acquisition Company Limited has attracted £15mn of equity finance from Caledonia Investments plc as it continues to capitalise on the strong rates for non-US medical malpractice and other specialty liability insurance.

Those inclined to a "half full" interpretation of the global insurance industry were encouraged this month by two relatively upbeat reports.

There was more courtroom drama this month with a mammoth case management conference for the forthcoming film finance litigation.

HLF Group has become embroiled in a controversy over undisclosed commission payments relating to a contract with the Australian Federal Government.