July 2005/4
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Hiscox plc has become the latest Lloyd's insurer to expand its presence in the US with a 19 July announcement that it has made three key appointments to its proposed New York office, due to open up early 2006.
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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.
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After a flurry of excitement in the Lloyd's listed sector, advocates of consolidation among the market's players were dealt a blow this month, with the news that Amlin has walked away from its proposed bid for fellow Lloyd's vehicle Chaucer.
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In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
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In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
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The Lloyd's Franchise Board has been granted more time to consider raising the Central Fund levies next year in a move which may prove unpopular with the insurers who trade in the market.
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As broking margins face growing pressures, Aon Ltd may set a precedent by being the first London market broker to hive off its embedded legacy costs to a third party in a bid to save money, The Insurance Insider can reveal.
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ACE's Bermudian contemporary XL continues to suffer its own legacy issues, unveiling a further boost to its US reinsurance reserves this month, which included a $64.7mn pre-tax increase for its workers' compensation reserves.
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Despite a hearing earlier this month headed by the Pennsylvannia insurance commissioner Diane Koken, ACE Ltd is no closer to knowing whether the proposed controversial sale of three asbestos-riddled subsidiaries to run-off company Randall & Quilter...
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A programme of subordinated debt is offering a new route to capital for Lloyd's and London (re)insurers, The Insurance Insider can reveal.
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Lloyd's is planning to scale back the implementation of its Accounting and Settlement (A&S) project for the market as it looks to focus resources on the task of achieving contract certainty by the deadline of the end of next year imposed by...
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Leading Lloyd's IT provider Room Solutions has blamed slow take up of a major new investment project for contributing to a £1mn loss for the year.