July 2005/4

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...

A programme of subordinated debt is offering a new route to capital for Lloyd's and London (re)insurers, The Insurance Insider can reveal.

The Insurance Insider can reveal that rating agency AM Best has lost a second key figure from its London office in six months, with the resignation of the well-regarded Jose Sanchez-Crespo from his position as general manager of its European Ratings...

Abacus Syndicates is bucking the trend among Lloyd's insurers, by applying to expand both its Syndicates' capacity next year.

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.

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.

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.

Nigel Barton's greenfield insurance intermediary Oxygen Insurance Brokers has signed up its first heavyweight London market broking teams.

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.

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

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.

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.