March 2007/1

Despite delivering a doubling of net profits to SFr4.6bn and an unexpected announcement on capital repatriation, Swiss Re’s full-year financials were met with a cautious response by analysts.

Benfield Group should post strong 2006 earnings but shareholders will be seeking reassurance in three areas, according to analyst William Hawkins of Keefe, Bruyette & Woods (KBW).

The competitive trading conditions for insurance broking overshadowed Jardine Lloyd Thompson Group plc's (JLT) 2006 results this morning (5 March) where the theme of declining rates and the weak dollar was paramount.

The rise in German run-off liabilities and the changing attitude to the sector will eventually see the creation of a chief liability officer at (re)insurers, according to Arndt Gossmann, director in KPMG's Advisory practice in Germany.

Capita Insurance Services, part of the giant UK outsourcing group Capita Group, is in talks to acquire the run-off consultants Claims Management Group Ltd (CMGL), Insider Week understands.

Amlin plc opened the Lloyd's 2006 reporting season and set a challenging pace with record pre-tax profits of £342.7mn and a lowly combined ratio of 72 percent...

A report into the European run-off market by PricewaterhouseCoopers (PwC) has estimated its size at in excess of EUR204bn of liabilities.

Tawa UK, the run-off acquisition firm backed by the French billionaire François Pinault, has acquired Continental Management Services Ltd (CMS), a (re)insurer with gross assets of $285mn.

Bavarian giant Munich Re has raised its 2007 earnings guidance on the back of record 2006 profits of over EUR3.5bn – 28.5 percent up on the prior year.

Rating agency Standard & Poor's (S&P) is launching a new set of ratings for the run-off sector to indicate the expectation of recovering the principal from (re)insurers.

Converium saw its position strengthened in its efforts to fight off a hostile takeover bid by rival SCOR as it regained its desired A- financial strength rating from Standard & Poor's (S&P).

Catastrophe modelling agency Risk Management Services (RMS) has lowered its industry loss estimate for European Windstorm Kyrill to a range of EUR3-4bn.