May 2004/5
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Ratings agency Moody’s has withdrawn its rating on the American arm of bankrupt Bermudian reinsurer Trenwick.
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State-backed French reinsurer Caisse Centrale de Reassurance (CCR) had its AM Best rating upgraded last week from A (Excellent) to A+ (Superior) with a stable outlook.
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Lloyd’s has set out the cost of setting up and running its electronic risk placing system, Kinnect.
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Swiss reinsurer Converium is set to replace its expiring catastrophe bond Trinom next month with Helix, a new $100mn product that will provide broader coverage than the three-year Trinom bond.
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Organisations have never faced a greater threat to their financial health from environmental risks and toxic tort liabilities, the latest market commentary from brokers Willis concludes.
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In contrast to Insider Week’s sister publication The Insurance Insider, analysts at US investment house Prudential Equity believe that the global brokers have only a marginal reliance on so-called Placement Service Agreements for their revenue.
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Corporation aims to operate at break-even; Markel named and shamed Lloyd’s has revealed the full cost of a first successful year for its Franchise Performance Directorate in its Corporation of Lloyd’s Annual Report 2003, published last Thursday (20 Ma
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Royal & Sun Alliance’s (R&SA) proposal to change terms and conditions on a EUR500mn bond to keep it in line with qualification requirements for regulatory capital with a group solvency test will not affect the rating of the debt, said Standard & Poor’s in
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Broking giant Marsh has announced its first large-scale foray since 1998 with the $1.9bn acquisition of corporate security firm Kroll.
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Hugh Stevenson, the chairman of the Lloyd’s run-off vehicle Equitas, is set to join the Financial Services Authority (FSA) as a non-executive director.
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Outsourcing outfit Capital Group announced last week that it had tied up a deal with Winterthur Life UK which positions it as the number one business process outsourcing (BPO) operator in the open book life and pensions market.
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Lloyd’s insurer Kiln has acquired a 25 percent stake in South Africa’s International Marine Insurance Managers (International Marine).
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