December 2003/3

Despite recent interim results hampered by its ailing banking operation, German insurer Allianz had its AA- rating affirmed by Standard & Poor’s (S&P) last Wednesday.

A number of significant commutations and buy-back settlements have reduced Equitas’ reinsurance income, the run-off reinsurer revealed last week when publishing its six months summary financial income.

Rating agencies rallied around beleaguered SCOR after the French reinsurer had its EUR750mn rights issue endorsed by 91 percent of shareholders at an extraordinary general assembly last Monday (1 December) and announced a complete exit from credit derivat

There was more insurance industry courtroom drama last week with a mammoth case management conference for the film finance litigation.

Swiss Re has launched Vita Capital Ltd, the first ever bond securitising life reinsurance risk instead of retrocessional cover.