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March 2004/4
  • Aegon profits boosted by stock-market recovery
    Dutch insurer Aegon has announced a 16 percent increase in net profits for 2003 - the result, it said, of better performing stock markets and fewer bond defaults.
    15 March 2004
  • Aspen unveils property reinsurance team
    Bermudian (re)insurer Aspen revealed last Monday (8 March) the identity of its new US property reinsurance team.
    15 March 2004
  • Benfield profits from Montpelier disposal
    Reinsurance broker Benfield has announced the sale of 2,390,785 shares in Bermudan reinsurer Montpelier Re, with effect from 15 March.
    15 March 2004
  • TSR predicts 17 typhoons in NW Pacific for 2004
    Nine intense typhoons and 17 typhoons are predicted for the forthcoming Northwest Pacific typhoon season according to the latest forecasts from the Tropical Storm Risk (TSR) consortium.
    15 March 2004
  • Aon foresees end to soft aviation rates
    Last year's trend towards lower aviation premiums is unlikely to last beyond the start of 2004, according to new research published by brokers Aon.
    15 March 2004
  • SVB closes 2001, but Syndicate 1007 downgraded as loss deteriorates
    Ratings agency Moody’s last Friday (12 March, 2004) downgraded SVB’s Syndicate 1007 from A1 to A2 after the Lloyd’s quoted insurer revealed further deterioration on its 2001 result.
    15 March 2004
  • PXRE reorganises
    Bermudian insurer PXRE announced last week (10 March) a strategic reorganisation of its underwriting and support operations which will see a 10 percent reduction in staff and estimated cost savings of some $2.7mn for the remainder of 2004 and some $4mn in
    15 March 2004
  • Greenberg Jr ascends to ACE throne
    Bermudian insurer ACE last week announced that Evan Greenberg would assume the role of CEO as of 27 May 2004. The move will see the replacement of current ACE chief Brian Duperreault, who, ACE said, will remain as chairman.
    15 March 2004
  • WTC update: New evidence raises spectre of false testimony, witness coaching
    WTC leaseholder Silverstein Properties and world’s largest reinsurer Swiss Re have been in court in recent weeks to decide whether the 9/11 attacks amounted to one event or two.
    15 March 2004
  • Cox and Highway: motor marriage made in heaven?
    Lloyd’s Insurer Cox is in takeover talks with rival motor insurer Highway, it has emerged.
    15 March 2004
  • Royal’s strong underlying performance missed by markets
    Despite a decline in group operating profit from £226mn in 2002 to £140mn for 2003, ratings agencies and analysts have not echoed the stock market negativity that saw Royal and Sun Alliance (R&SA) shares drop almost 15 percent last Thursday (11 March) as
    15 March 2004
  • Amlin posts 83% combined ratio
    Amlin was the latest Lloyd’s insurer to post bumper profits on the back of the hard market when it announced a combined ratio of 83 percent (against 95 percent in 2002) and a 31 percent increase in gross written premium to £937.4mn for its 2003 year-end r
    15 March 2004
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