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June 2005/4

  • 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...
  • 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.
  • 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.
  • 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.
  • 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...
  • 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...
  • 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.
  • 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.
  • 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.
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • 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...
  • Lloyd's is to consider raising the Central Fund levy to replace the £323.8mn deficit caused by the recent, modest settlement with its reinsurers, The Insurance Insider can reveal.