July 2005/2

Amlin has walked away from its proposed bid for fellow Lloyd’s vehicle Chaucer.

RenaissanceRe confirmed today that it has parted company with Michael Cash, an executive in its specialty reinsurance unit...

French insurance giant AXA has had the financial strength rating of its reinsurance subsidiary AXA Re upgraded from A- to A by AM Best, partly as result of its decision to lend the company EUR150mn to boost its capital.

UK listed insurer Brit Insurance Ltd has welcomed the affirmation of its financial strength and credit ratings by AM Best.

GoshawK Insurance Holdings – the owner of Bermudian reinsurer Rosemont Re – revealed today that it has expanded its book by around 35 percent this year.

ACE unveiled a series of management reshuffles last week in both its primary and reinsurance operations.

XL unveiled a further boost to its US reinsurance reserves last week, which included a $64.7mn pre-tax increase for its workers’ compensation reserves.

American International Group revealed last week that the former chairman of the US Securities & Exchange Commission Arthur Levitt has become the insurance giant’s special advisor to its Board of directors and the Board’s Nominating and Corporate...

The UK quoted reinsurer Alea Group Holdings reassured shareholders that its 2005 business was continuing to perform “in line with its expectations” last week.

UK insurer Royal & Sun Alliance received a fillip from rating agency Fitch Ratings last week when its financial strength rating was upgraded from BB+ to BBB.

Lloyd’s is parting company with two senior executives as part of a restructuring that will see the Corporation move further away from a regulatory emphasis to one of operational risk management.

Omega Underwriting Holdings plc has until the 1 August to table a fresh offer for its fellow Lloyd’s insurer Hardy Underwriting Group plc or withdraw its interest, according to a ruling from the London Stock Exchange Panel Executive.