June 2004/6
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Global Aerospace Underwriting Managers (GAUM) CEO Tony Medniuk has started his reign as chairman of the International Underwriting Association (IUA) with a pledge to keep technology in the London Market at the top of the agenda.
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Lloyd's has undergone an impressive turnaround since September 11 and results are likely to remain strong through 2004, Marsh-owned reinsurance broker Guy Carpenter has concluded in its latest overview of the London insurance market.
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Rising interest rates may cause up to a 3 percent reduction in the average US (re)insurer’s book value by the first half of the year, analysts at Morgan Stanley have warned.
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World’s third largest broker Willis announced last Wednesday (23 June) that it has reached an agreement in principle to buy a majority shareholding in Irish broker Coyle Hamilton, and to buy the outstanding interest over the next few years.
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In its latest Sigma study, reinsurance giant Swiss Re notes that the direct insurance industry – now worth $2.94tn – is well on the road to recovery, and will continue to show improvement this year.
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The insurance and reinsurance sectors are the most exposed industries in the short term to increases in the prevalence of obesity, a new report from Dresdner Kleinwort Wassertein Research (DrKW) has concluded.
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Investment analysts at Morgan Stanley have cut their rating on recently merged St Paul Travelers, after revealing concerns that the group’s environmental exposures will lead to a $650mn fourth quarter 2004 pre-tax reserve charge.
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Despite previously describing the Californian workers’ compensation sector as “crazy”, Berkshire Hathaway has agreed to replace Everest Re as the carrier on Acacia Pacific Holdings’ California Workers Compensation Program.
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Serial disposer Royal & SunAlliance (R&SA) has announced the sale of the life and pensions divisions of its subsidiary Codan. R&SA, which owns 71.7 percent of Codan, said the sale would be to Danish life insurer SEB Trygg Liv and would net an estimate
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Figures point to lower than expected softening on rates An upbeat trading statement from Lloyd's specialist insurer Kiln provided the impetus to a more than 7 percent share price rise last week after the company said premium rates were holding up bett
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UK BPO specialist Xchanging has announced that it will move all its operations to 34 Leadenhall Street, replacing its current three office locations.
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Lloyd’s liability start-up Illium Syndicate 4040 announced last week (25 June) that it had added the experience of former BR Smith Syndicate 45 claims manager John Craig to its stable.
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