June 2005/4
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Although ratings agencies agree that a serious threat to Lloyd's stability from an Equitas collapse is unlikely in the short-term, recent rumblings in response to possible asbestos reforms in the US have once again highlighted the fragility of the...
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Insurer AIG continued to feel the full force of US regulators' ire this month with further fallout from recent investigations into its use of finite reinsurance.
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Despite boosting asbestos reserves by £167mn, Lloyd's pre-1993 run-off vehicle Equitas heralded a year of progress which has left it in a stronger financial condition as it announced its financial results for the year ended 31 March 2005 early this month.
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Leading (re)insurance brokers Willis and Guy Carpenter both released reports praising recent progress at Lloyd's in what was a challenging year for the industry.
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The Lloyd's insurer SVB Holdings Plc is now pinning its hopes on negotiating a reduction in its capital requirements, as it is as yet no closer to agreeing a ring-fencing arrangement that could protect it from its enervating US D&O and financial...
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Just days after leading Lloyd's investor Rostrum Group announced it would cut loose its interests in Lloyd's quoted insurance stocks, citing a failure to foster consolidation among the companies, news broke that Amlin plc was in talks with fellow...
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Jeremy Pinchin, the head of Reinsurance and Claims at the Society and a senior member of the Franchise Performance directorate, has resigned from Lloyd's.
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MMC's wholesale arms Price Forbes and Crump are likely to be the only significant units spun-out of the broking giant, the company confirmed this month.
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A second senior executive at Berkshire Hathaway's reinsurance subsidiary General Re pleaded guilty this month to charges of criminal conspiracy brought in relation to the company's transaction with American International Group (AIG).
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After protracted negotiations, the stakes are being raised in the dispute over the requirement for non-US, or alien reinsurers, to stump up onerous collateral payments for business written in the states.
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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 its recent global annual report and accounts, world's oldest insurance market Lloyd's published a £1.19bn profit for the 2002 year of account based on the three-year accounting method, earned on net premiums of £7.6bn and boosted by £510mn gross...
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