March 2004/3

Broker Willis has announced the resignation of three of its directors representing investment firm Kohlberg, Kravis, Roberts and Co, and the appointment of three new directors.

The premium income of the four major European reinsurers grew by 2 percent in aggregate following this year’s renewals season, according to research from brokers Benfield.

HCC Insurance Holdings has announced the recruitment of underwriters Richard Webb and Brian Deane to HCC Diversified Financial Products (HCCD), the Group’s London based underwriting agency specialising in writing professional indemnity insurance in the Eu

Lloyd’s has announced that Philip Lader, formerly US ambassador to the United Kingdom, will join the Lloyd’s Council as a nominated member.

US insurer Chubb declared an increased quarterly dividend last Friday (5 March) of 39 cents a share, up 8.3 percent on the 36 cents paid out last quarter.

Insurance giant ACE Ltd revealed last week that its previously reported after-tax 2003 earnings would improve by $23mn following the early termination of a derivative contract.

2003 saw the seventh highest number of victims from natural and manmade disasters since 1970, according to a new report from reinsurer Swiss Re.

The London Market travelled further down the road to reform last week as the Lloyd’s Market Association (LMA) announced a new market repository for electronic claims files, commissioned from IT outsourcing firm Xchanging.

Hot on the heels of its Syndicate 2020 results and projections last month, Wellington has received a series of positive appraisals from analysts.

The Catlin insurance group finally announced its intention to take advantage of buoyant investor interest by floating on the London Stock Exchange.

Specialist Lloyd’s insurer Hardy Underwriting has announced its syndicate results for 2003 and forecasts for the coming year.

Atrium joined its peers on 2 March announcing 2001 as an "excellent result in a difficult year" for its Syndicate 609, alongside Syndicate 570 performance "better than previous forecast". Syndicate 609 made a 4.4 percent profit on £66.1mn, near the top en