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March 2007/1
  • Hurricanes fail to blow Omega off course
    Omega Insurance Holdings has closed the 2004-year of account for Syndicate 958 at a profit of 7.6 percent of capacity despite absorbing losses from four major hurricanes.
    05 March 2007
  • Lloyd's launches Malaysian subsidiary
    Lloyd's has strengthened its ties in the fast growing Asian markets with the launch of a Malaysian subsidiary.
    05 March 2007
  • Best upgrades reinsurance to stable
    Rating agency AM Best has upgraded its outlook on the global reinsurance sector from negative to stable for this year.
    05 March 2007
  • Glacier Re sees revenue leap
    Swiss reinsurer Glacier Re reported a 51 percent increase in its premium volume, up to $167.7mn, written during the January renewals.
    05 March 2007
  • Icap moves into (re)insurance trading with joint venture
    Icap, the world's largest interdealer broker, has joined forces with JLT Group to operate in areas of increasing convergence between the capital markets and the (re)insurance industry.
    05 March 2007
  • Benfield investors looking for reassurance over prospects
    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).
    05 March 2007
  • Weak dollar hits JLT profits
    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.
    05 March 2007
  • Amlin reveals $40mn Florida impact as profits soar
    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...
    05 March 2007
  • S&P to launch run-off ratings
    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.
    05 March 2007
  • Tawa UK in $285mn run-off acquisition
    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.
    05 March 2007
  • Munich Re exceeds 2006 profits target
    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.
    05 March 2007
  • Insurers grab for distribution drives broker M&A
    The renewed interest of insurers in obtaining UK brokers has pushed up the deal values in broker mergers and acquisitions (M&A), according to research by Deloitte.
    05 March 2007
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