February 2006/5

Results at UK insurer Royal & Sun Alliance will be analysed closely for worsening exposures to Hurricane Wilma, which tore through the US Gulf and Mexico last October. The insurer – which has seen its share price climb leap more than 50 percent to...

UK-listed broker Jardine Lloyd Thompson Group plc (JLT) is to undergo a radical restructure that will merge its UK Corporate Risks and JLT Risk Solutions, Insider Week can reveal. Following the merger – due to complete by the third quarter 2006...

The brokers working to achieve peer-to-peer initiatives with the “gang of six” Lloyd’s underwriters have been revealed as Aon, Benfield, Willis and Marsh. The “gang of six”, or G6, is the breakaway group of powerful insurers which has combined with...

The Financial Services Authority (FSA) has cancelled Xsavi Ltd’s permission to trade because of the firm’s failure to comply with standards and inadequate financial resources. It is the first enforcement cancellation taken against a general...

Underwriters at Lloyd’s believe that the most critical challenge the insurance industry faces is managing the business cycle, according to the Corporation’s second annual underwriter survey. The survey approached underwriters directly at their...

Integer, the mutual set up to sell stop-loss policies to Lloyd’s Names, has lost a High Court hearing over settlement money paid to almost 500 members of the Stop Loss Recover Group (SLRG). The action marked the latest in a series as the board of...

Australian-based (re)insurer QBE declared an increase in final dividend from 30 cents to 38 cents a share after announcing record results, with pre-tax net profit up 37 percent to A$1.5bn. After-tax operating profits were up 27 percent from...

Lloyd’s listed insurer Wellington Underwriting plc revealed Friday (24 February) that its underwriting agency will make a cash call to capital providers on its Syndicate 2020 of $190mn as a result of last year’s hurricanes.

The UK arm of broking giant Aon has revealed plans to leave the City for Docklands, with talks ongoing for a new London office at Canary Wharf. The firm – which employs 2000 people in the UK - said it was in exclusive negotiations with Canary Wharf...

Lancashire Re became the second Bermudian start-up to reveal its 2006 trading performance when it estimated writing $165mn in gross premiums by 1 March. “We feel we have got off to a very good start. What we’re seeing is a very patchy market, but we...

Munich Re chief executive Nikolaus von Bomhard has said the industry will not end the problems over its reputation while brokers and carriers continue to own significant stakes in each other. Dr von Bomhard said brokers could not say they were...

At a time when Willis Corp is building a grand edifice opposite the Lloyd’s building as its new global headquarters, Aon Ltd has revealed that it is considering deserting the City and relocating to the burgeoning Docklands.