July 2004/2

Highway Insurance Holdings has bought personal lines insurance broker A Quote Insurance Services Limited for £4.6mn.

US engineering group Halliburton revealed that its earnings will be impacted by a $615mn charge because of lower than expected recoveries from its insurers following its $4.2bn settlement with 400,000 asbestos claimants.

UK reinsurer Benfield has announced the sale of its holding in Benfield Sports International (BSI), a sports marketing consultancy.

“Volatile” US liability reinsurance drags down Lloyd’s insurer’s financial performance Losses at the discontinued liability reinsurance, healthcare and third-party liability units of specialist insurance group SVB Holdings are continuing to hit operati

Lloyd’s defeats Florida Marlins in controversial claims Lloyd’s insurers have successfully disputed a $7.7mn PA claim from the US baseball champions Florida Marlins following a protracted legal battle.

Ratings agencies responded rapidly to last Tuesday’s (29 June) news that Germany’s Gothaer Group has decided to run-off its reinsurance arm Gothaer Re, merging it with holding company and 70 percent shareholder Gothaer Finanzholding.

Fast growing White Mountains announced last Wednesday (30 June) that Warren Buffett’s investment giant Berkshire Hathaway had completed its previously announced exercise of warrants to buy common shares in the (re)insurance group.