May 2006/4

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.

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).

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.

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.

Swiss reinsurer Converium has reported a successful 1 April non-life renewal season as the company continues on the road to recovery.

German giant Munich Re has announced quarterly profits of EUR979mn on the 9 May, up 41.7 percent from the EUR691 in the prior-year period.

Aon Ltd, the UK arm of broking giant Aon Corp, has ditched plans to move its London operations out of the City of London and to the Docklands.

US retail broker Arthur J Gallagher has acquired Florida consultancy form YS Liedman & Associates.

London market broker Glencairn Ltd has parted company with Adam Fox, the head of its reinsurance operations.

London is on course to meet the Financial Services Authority's (FSA) 85 percent contract certainty deadline by the end of the year, according to the findings of a survey by IT company Sungard.

London market broker Tyser & Co has been refused leave to appeal a decision that upheld market custom that underwriters are entitled to placing and claims documentation held by broker.

UK general insurer Royal & Sun Alliance (R&SA) announced last Thursday (11 May) first quarter pre-tax profits of £122mn, unchanged from the corresponding period of 2005.