June 2003/1

WRB Insurance, a new £80mn capitalised UK liability insurer headed by former ACE professional indemnity underwriter Stuart Wright, will begin trading early July providing fresh capacity to a stretched sector. WRB Insurance, which is majority owned by U

With the recent news that the Lloyd's Franchise Board is considering cutting Qualifying Quota Share (QQS) allowances to 10 percent of stamp, managing agents are being forced to reconsider their business plans and capacity requirements. Currently, 2003

A tit-for-tat letter exchange has ensued between European reinsurers and their US (re)insurance counterparts as the ground is fought out to establish the way ahead for collateral requirements of so-called "alien reinsurers" operating in the US marketplace

Total payouts fall, but shrinking surplus and deteriorating solvency margin as balance sheet weakens Equitas unveiled financial results for the year ended 31 March 2003, announcing a £399mn increase in gross discounted asbestos reserves. The world's

In the early 1980s, when Lloyd's recruitment drive signed up thousands of new members, little mention was made of open years. Yet twice since, as the underwriting cycle bottomed out, open years have become a millstone around the necks of capital providers

The pricing of professional indemnity risks continues to be an art form as underwriters work against a backdrop of litigation trends and unpredictable Government intervention. But delegates attending Aon's 2 June liability seminar “The Global Landscape

Heritage is set to capitalise on the improved rating environment for UK liability by spinning off a new Lloyd's Syndicate from their existing operations, The Insider can reveal.

Arch Capital Group has recruited the former Chubb D&O specialist Ralph E. Jones III to lead its challenge into the US professional indemnity sector. Jones will join on the 1 July as the president and chief executive officer of Arch's US Insurance arm,

Aspen Re, the London market reinsurer spun-out of the Lloyd's insurer Wellington Underwriting last year, is planning to reward its private equity backers by floating in the US later this year. Although less than a year old, Aspen plans to follow in the

Lloyd's (re)insurer Chaucer's plans to merge its syndicates 587, 1084 and 1096 into one have met with a mixed reception. The move, initially announced in Chaucer's prospectus for its recent successful £42mn placing and open offer (see Insider Week 65)

Shares in Benfield Group began conditional trading on the London Stock Exchange on Friday 13 June as the company announced the pricing of its IPO at 250p per share. The debut was towards the upper end of the 200p to 260p indicative price range, and val

Hannover Re, the world's fifth largest reinsurer, responded to concerns over its geared capital base by raising EUR500mn in two equity offers earlier this month. The reinsurer issued 10 percent of its share capital to institutional investors on 12 June