March 2006/1

Last year was a record year for cat bonds as the market continued to react to Hurricane Katrina, according to a new report called “The Catastrophe Bond Market at Year-End 2005: Ripple Effects from Record Storms” by reinsurance broker Guy Carpenter.

London market (re)insurers and brokers were recognised yesterday as some of the UK’s best companies to work for, according to the annual Sunday Times survey. The medical malpractice specialist Marketform Group came 26th out of the UK’s top 100 best...

Lloyd’s insurer Wellington Underwriting plc has announced the retirement of its chief underwriting officer David Foreman in a statement to the London Stock Exchange this morning (6 March 2006). Wellington said Foreman will step down from the board...

Lloyd’s insurer Amlin reported last Wednesday (2 March) a record result of 25.4 percent of capacity for the 2003 year of trading on Syndicate 2001, beating the previous record of 21.7 percent on the 2002 account. The company said the result...

Boston-based insurer Liberty Mutual Group last Tuesday (1 March) reported a $312mn fall in fourth quarter net profits to $253mn, and a $218mn drop in full-year profits to $1.03bn as it took close to $1bn in 2005 hurricane losses. The company, which...

Giant reinsurer Swiss Re reported a 41 percent drop in its 2005 net income to SFr1.451bn from SFr2.475bn in the prior year, a result that reflected a tough year for reinsurers. Swiss Re absorbed SFr3bn in large natural catastrophe claims following...

“Class of 2005” start-up Validus Holdings Ltd announced today (6 March) that former Merrill Lynch investment banker Joseph E. (Jeff) Consolino has been appointed chief financial officer and executive vice president of the company and its subsidiary...

Shares in UK listed broker Jardine Lloyd Thompson Group plc (JLT) have dropped 7 percent today ahead of the company’s announcement of its preliminary 2005 results tomorrow morning.