December 2005/3

Liberty Syndicates announced last week that it is raising its capacity for 2006 to £912mn, up 27 percent from this year. The Lloyd’s (re)insurer intends to use the extra capacity to support increased underwriting across all five of its divisions...

Class of 2005 reinsurer looks to be the first start-up on AIM since PRI As exclusively revealed in the December 2005 issue of our sister title The Insurance Insider, Bermudian start-up reinsurer Lancashire Holdings Ltd is set to float on the London...

XL Capital has appointed a new team to lead its XL Insurance Global Marine and Offshore Energy (M&OE) unit in London and New York.

Reinsurance specialist broker, JK Buckenham Ltd (JKB) has announced the creation of JKB USA, which has been formed in partnership with US broker Performance Insurance Services.

The Association of Run-Off Companies (ARC) has welcomed the government’s decision to delay the implementation of VAT on outsourced insurance services.

London market IT service provider Intech was acquired this month by the expanding French company Sword Group.

Last month’s extensive rioting across France will cost insurers EUR200mn with AXA picking up a quarter share of the total cost.

Bermudian (re)insurer ACE announced last Tuesday (7 December) that it expects losses from Hurricane Wilma to reach around $250mn, after tax and reinsurance.

Bermudian (re)insurer AXIS Capital last Thursday (8 December) announced a quarterly dividend of $0.15 a share, payable 17 January 2006.

UK insurer Brit today (12 December) announced the appointment of two new underwriters to its London market underwriting team.

Lloyd’s broker Contractsure has raided staff from Glencairn and Alexander Forbes as it aims to double its client base within the next 18 months.

Bermudian reinsurer Aspen Last Tuesday (6 December) increased its hurricane losses to a range of $470mn to $535mn (previous upper end of $400mn) and announced plans to raise $400mn in new capital.