January 2006/4

Allied World Assurance Company’s (AWAC) move towards independence has cost it a ratings downgrade amid rumours that it is set to become the last of the so-called “Class of 2001” to go public with an IPO.

Last Friday (13 January) saw the launch of specialist lines underwriting agency Amalfi Underwriting Ltd in the London market, with a target to write $25mn of premium income in its first year.

Lloyd’s listed insurer Amlin last Tuesday (10 January) reported a bullish trading statement despite fears expressed in some quarters over rates at the 1/1 renewals, and said 2005 pre-tax profits are expected to exceed analysts consensus forecasts.

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...

Run-off services provider CMGL has launched a fraud investigations unit under the auspices of John Halls, who returns to the company after six years at Omni Whittington and Axiom.