MGAs/MGUs [DEMO]

PRI loses sight of white knight

Shareholder backed Brit the only bidder after breaking PRI board’s resolve The board of UK insurer PRI finally succumbed to the weight of Brit pressure on 17 April when it agreed to recommend the insurer’s all share offer to its shareholders. Approval

01 April 2003

GoshawK takes hit on death insurance

Lloyd's insurer unveils disappointing results and agrees to reverse out £27mn of earned premiums from controversial viatical insurance GoshawK's involvement with viatical business - the controversial practice of buying life insurance policies off the

01 April 2003

Lloyd's faces Central Fund fight

Lloyd's was lauded in some quarters at the beginning of the month; praised for a record return to profit after years of losses, congratulated for its peer beating combined ratio, and bandied about as a unique performer in an otherwise depressed industry.

01 April 2003

Hannover fails to answer critics

Despite impressive underwriting results, doubts continue over Hannover Re’s stretched capital base, rating downgrades and heavy reinsurance exposures Poor Hannover Re. The world's fifth largest reinsurer declares a healthy profit, out-performs its pee

01 April 2003

Inside the AIG Proxy Statement - in depth analysis from David Schiff

The Audit-Committee Report AIG is arguably the greatest insurance organization in the world. As such, it deserves more scrutiny than other companies. In its reports for the years ending 2001 and 2000, AIG's audit committee disclaimed virtually all r

01 April 2003

US Supreme Court gives heart to insurers

In a welcome reversal of type, the US Supreme court delivered a pro insurer judgement earlier this month restricting the scale of punitive damage awards. In State Farm Mutual vs Campbell et al, the US Supreme Court decided by a 6-3 majority that puniti

01 April 2003

Credit derivatives: industry exposed?

Buffett blast derives credit and criticism. Should (re)insurance investors be concerned? When the Sage of Omaha sounds a warning signal, the insurance world usually tunes in. So when Warren Buffett wrote his annual letter to Berkshire Hathaway shar

01 April 2003

Lost in space - Space market at crisis point as $1.6bn satellites claim lodged

The Insurance Insider can confirm that space insurers have received six claims for constructive total loss amounting to more than $1.6bn as a result of Boeing telecommunications satellites found to have a shorter than expected lifespan. As revealed in

01 March 2003

'Death of the Sure Thing' Thoughts on AIG - Play it again, Hank - says David Schiff

At 8:23 p.m on February 3, when AIG announced that it would take a $2.8 billion pretax charge ($1.8 billion after tax) to boost loss reserves, investors' perception of the company was radically altered. AIG had been venerated for its rapidly growing, pred

01 March 2003

Let the good times roll

2002 will see profits at Lloyd’s return, perhaps as much as £1.5bn. Good news because in contrast 2000 will be another poor year when Lloyd’s unveils its official results later this month. Exclusive analysis from The Insider’s Laptop. It was a long tim

01 March 2003

R&SA seeks royal respite

Disappointing 2002 results but if its disposals go to plan then UK giant should end 2003 far stronger than it began the year In a fortnight that saw relegation from the FTSE 100, a disappointing set of 2002 results and a higher than expected dividend

01 March 2003

AXIS access public offering

AXIS Capital has joined the growing list of Bermudian operators seeking to list on the New York Stock Exchange.

01 March 2003