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May 2006/4
  • JLT receives China approval
    UK-listed Jardine Lloyd Thompson Group plc (JLT) today (18 May) announced it has became the latest Western broker to receive approval from regulators for a Chinese (re)insurance broking operation.
    18 May 2006
  • Lancashire to write less business than planned in 2006; RoEs on target
    Start-up (re)insurer Lancashire Holdings Ltd has blamed a sluggish marine market for writing less business this year than it initially planned, according to a trading statement issued today (17 May).
    17 May 2006
  • Net income rises at SCOR
    French reinsurer SCOR today (16 May) reported a 61 percent rise in its first quarter income to EUR53mn from EUR33mn in the prior-year period.
    16 May 2006
  • Gallagher acquires consultancy
    US retail broker Arthur J Gallagher has acquired Florida consultancy form YS Liedman & Associates.
    15 May 2006
  • PXRE loses two-thirds of business
    Besieged Bermudian reinsurer PXRE Group Ltd revealed last Wednesday (10 May) that it has lost two-thirds of its business following its recent troubles.
    15 May 2006
  • Converium upbeat on April renewals
    Swiss reinsurer Converium has reported a successful 1 April non-life renewal season as the company continues on the road to recovery.
    15 May 2006
  • Moody's says sidecars market set to grow
    The emergence of the special purpose reinsurance entities known as sidecars is an innovative capital and risk management strategy and the market looks set to keep growing according to a report by ratings agency Moody's.
    15 May 2006
  • Monument in disarray as chief executive joins exodus
    Lloyd’s broker Monument has been left in disarray following its chief executive’s decision to quit the company after a tenure of just two months – only weeks after five other senior managers walked out on the firm.
    15 May 2006
  • Kiln appoints chief actuary
    Lloyd's insurer Kiln appointed Andrew Hitchcox to the newly created post of chief actuary and risk officer.
    15 May 2006
  • Glencairn parts company with Adam Fox
    London market broker Glencairn Ltd has parted company with Adam Fox, the head of its reinsurance operations.
    15 May 2006
  • Quanta upgraded on take-over prospects
    Shareholders in the embattled insurance group Quanta Capital Holdings Ltd received a glimmer of good news last week when a US analyst upgraded the company's prospects on the possibility of a sale.
    15 May 2006
  • Hannover Re halves traditional retro cover
    German reinsurer Hannover Re released strong first quarter operating results on 12 May, and said it was on track to hit 2006 earnings targets.
    15 May 2006
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