June 2004/1

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

Management controlled motor insurer Zenith will have to disclose documents to former owner XL London justifying its controversial reserving on Syndicate 2002, which saw the new owners benefit from a £23.5mn release from reserves months after the sale.

Equitas announced its annual results for the year ended 31 March 2004 on 8 June, revealing a £296mn increase in gross discounted reserves for asbestos claims. Accumulated surplus after tax fell £67mn from £527mn to £460mn, but the reinsurer's solvency

Scandinavian insurer Tryg Vesta has responded to fears that its UK (re)insurance subsidiary, Chevanstell Ltd - formally Tryg-Baltica International (UK) Ltd (TBI UK) - may be insolvent. After years of underwriting losses, TBI UK was placed into run-of

With writs flying and claims accruing, Cable &Wireless' ill-conceived foray into insurance may cost the telecoms firm and the London market dearly... Fears are growing of another multi-million pound insurance scandal, this time involving UK telecoms co