June 2006/2

In an exclusive interview with our sister publication IQ, Sue Langley, chair of the G6 and chief operating officer of UK insurer Hiscox, confirmed the group would pilot a new approach to contract checking, to which the new Lloyd's CEO Richard Ward...

The Financial Services Authority (FSA) is set to implement rules that will enable sidecar-style securitisation transactions to be formed in the UK.

Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.

Although the pace of business process reform has picked up in London, with initiatives from Lloyd's, the Lloyd's Market Association and the G6 moving forward, Bronek Masojada, chief executive of UK insurer Hiscox, challenged the market...

The former head of Lloyd's strategy Stuart Degg, together with reinsurance consultancy the Donald Macdonald Partnership, is set to launch a new operation targeting the industry's growing enthusiasm for (re)insurance-linked securitisations...

Giant reinsurer Swiss Re has announced the issue of Successor, the latest in its series of cat bond programmes, as it continues to utilise the capital markets to offset risk.

Shares in American International Group (AIG) fell last month as investors sold stakes following a 16 percent drop in first quarter net income to $3.2bn.

Amidst market volatility, Numis downgrades earnings forecasts Despite hardening rates in some lines of business and positive trading statements, London-listed insurance stocks have taken a hammering in recent weeks.

Bermudian reinsurer Max Re filed its first quarter results late May in a move that should avert its delisting from the Nasdaq trading exchange.

The first quarter of the year has seen premium income drop for Bermudian reinsurers despite sharp rate rises, reported Benfield in its Bermuda Quarterly review.

Although the London market was recently overtaken by Bermuda as the largest brokered reinsurance market in the world, analysts from Morgan Stanley believe the market remains attractive as an investment proposition, with lower capital requirements...

Allianz net profit up in revised results German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.