July 2004/4

Despite UK insurance analysts’ collective scepticism over Berkshire Hathaway plans to back a Lloyd’s consolidation vehicle, sources suggest Capital Insurance Holdings remains on target to float on the Alternative Investment Market by the end of the month.

The defunct Australian insurer HIH Casualty & General will be able to allege fraud against its broker JLT Risk Solutions over controversial film finance losses written in 1997.

New market opportunities are creating a more positive business outlook than at any time in the past three years, the most recent International Insurance Society (IIS) survey of insurance executives has revealed.

Lloyd’s announced Friday (16 July) that all slips placed under binding authority agreements will have to meet London Market Principles (LMP) standards from the start of 2005.

UK risk managers’ representative body AIRMIC has welcomed a statement from the Financial Services Authority (FSA) that many group risk managers will be spared from regulation imposed by the Insurance Mediation Directive when it comes into force at the sta

Lloyd’s underwriting members will provide a compulsory loan from next year as part of a scheme to grow the Society’s central assets and improve its financial strength ratings.