January 2006/3

Charles Philipps has warned that Lloyd’s must preserve its security rating, or face disastrous consequences that would spell the end of the market in its current form. Speaking at Lloyd’s on 11 January as part of a series of lectures...

Lloyd’s insurer Beazley received a welcome boost from analysts Numis Securities after it failed to gain investor backing for a new syndicate last month. Numis has upgraded its rating on Beazley shares from ADD to BUY and increased its price target...

Hannover Re is understood to be looking at solutions to reduce its exposure to reinsurance recoverables, which have risen significantly on the back of last autumn’s record industry hurricane losses.

Reinsurance broker Benfield Group predicted better than expected revenues for 2006 on the back of rising reinsurance rates in 2006 and 2007. In a 12 January trading statement, the broker said that it now expected 2006 turnover to grow by 20 percent...

Out of court settlements appear to be close in the £80m fraud trial between Cable & Wireless and former employees of its defunct captive insurer Pender Insurance. The case met for a ‘mention’ at the High Court on 12 January and has been scheduled...