MGAs/MGUs [DEMO]

Hannover Re hits out at Moody's after downgrade

Fresh from its dispute with Lloyd's, Moody's has been attacked by Hannover Re after downgrading the reinsurer from Aa3 to A2.

01 December 2001

Equitas: Asbestos claims continue to rise

Equitas are still facing a rising tide in asbestos claims according to their results for the first six months of 2001.

01 December 2001

Property XOL and aviation syndicates deteriorate rapidly

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.

01 December 2001

Enron: Insurance exposed after financial guarantees

Speculation is mounting over the insurance industry's exposures to Enron - the giant US energy group that filed for bankruptcy protection last week. While initial fears concentrated on possible D&O and professional indemnity losses, concerns are rising ov

01 December 2001

SVB increases loss estimate by 50 percent

Embattled Lloyd's insurer SVB are the latest carrier to increase their loss estimates to the 11 September attacks.

01 December 2001

Copenahagen Re ceases

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

01 December 2001

Sun sets on Fortress Re

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

01 December 2001

Plain English: Pecuniary Loss

English can often be misleading, so we have rustled up a guide to aid understanding to the minefield of Lloyd's business jargon. This month its the opaque business description “pecuniary loss”. Frustrated by being fed misinformation about the risks of

01 November 2001

Trenwick - $96m net loss for third quarter

Trenwick Group Ltd has reported its third quarter 2001 results, blaming the 11 September attacks for the downturn. For the first nine months of the year the group reported an overall loss of $128mn, although premium incomes were up (gross $1,061mn and net

01 November 2001

Lloyd's stocks improve warily

Valuations improve but insurers remain nervous of equity issue While the quoted Lloyd’s insurers have begun to claw back their valuations which were devastated by the 11 September attacks, their reluctance to raise funds via equity issues reflects the

01 November 2001

For whom the Lutine Bell Tolls

Accompanying the gloom of the 11 September events was the message from one members’ agent that “the status of Private Capital at Lloyd's has never been better”. On the other hand, Robert Hiscox was not slow to predict the demise of that same capital base

01 November 2001

NY aircrash led by global aerospace

The London market consortium Global Aerospace Underwriting Managers is believed to have led the coverage on the American Airlines plane that crashed into New York on the 13 November.

01 November 2001