June 2005/5

German reinsurer Munich Re Group has elaborated on its financial position. At an investors’ conference today in London it said the Group's available financial resources had increased by EUR1.9bn to EUR22.6bn in the business year 2004. At the same time, th

Lloyd’s insurer Kiln has said today (27 June) that it continues to see good trading conditions in 2005, with renewal rating levels at 98.4 percent of the equivalent price a year ago.

Barbados-based Imagine has had its A- financial strength rating and a- credit rating put on negative outlook by AM Best following a review of the reinsurer’s acquisition of Danish Re and current uncertainty surrounding the finite reinsurance market.

The extent of US regulatory interest into ACE Ltd was laid bare last week when the insurance group revealed it had handed over information on over a 100 different contracts.

US insurance giant St Paul Travelers revealed last week that it had entered into a settlement agreement with the Kemper Insurance Companies over a disastrous surety bond contract which has gone at least five times over its original estimates.