MGAs/MGUs [DEMO]

Chairman & ACE settle at the "courthouse door"

A week after Axis Specialty confirmed it had raised $1.6bn and will begin underwriting from its Bermuda base in December, its chief executive John Charman and his former employers ACE have settled their dispute over Charman’s termination agreement.

01 December 2001

GoshawK wings to Bermuda

Lloyd's insurer Goshawk is doubling its size and establishing a £100mn capitalised Bermudian reinsurer Goshawk Re to exploit the post 11 September market.

01 December 2001

Wellington to sponsor London based underwriting vehicle

Wellington Underwriting plc has announced that the Group's managed syndicate 2020 plans to double its underwriting capacity to $1bn for 2002, and that the Group was examining the options available to raise the capital needed to support the growth of the b

01 December 2001

American Re - $506m loss for third quarter

The Munich Re subsidiary American Re has reported a net loss of $506.5mn for the third quarter of 2001.

01 December 2001

Catlin plans $750m injection

Massive boost for Lloyd's, but Names can't benefit Stephen Catlin, the former dentist and chief executive of Catlin Underwriting Agencies Ltd, is negotiating a $750mn capital boost in Catlin Westgen Group Ltd, the holding company of Catlin Underwriting

01 December 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

Carve-out regulation fails to exclude "Unicover"

Workers' Compensation carveout reinsurance, for 20 years a maverick off-shoot of one the US’s most regulated insurance classes, has at last become the focus of attention by the National Association of Insurance Commissioners (NAIC). A white paper recently

01 November 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

Capacity auctions show confidence slump

The third capacity auction saw prices fall as Names withdrew support for syndicates The third, delayed, Lloyd's syndicate capacity auction reflected the turmoil within the Lloyd's market. A total of £364.8mn of capacity was traded at an average price o

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

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

Why Aneco is flawed

The recent Aneco judgement increases brokers' liabilities in the event of negligent advice. Tim Brentall of Elborne Mitchell argues the decision is flawed. There was once a successful barrister who would occasionally advise his clients thus: “I have re

01 November 2001