May 2006/4
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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.
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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).
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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.
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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.
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Swiss reinsurer Converium has reported a successful 1 April non-life renewal season as the company continues on the road to recovery.
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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.
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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.
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US retail broker Arthur J Gallagher has acquired Florida consultancy form YS Liedman & Associates.
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London market broker Glencairn Ltd has parted company with Adam Fox, the head of its reinsurance operations.
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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.
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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.
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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.
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Besieged Bermudian reinsurer PXRE Group Ltd revealed last Wednesday (10 May) that it has lost two-thirds of its business following its recent troubles.
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Lloyd's insurer Kiln appointed Andrew Hitchcox to the newly created post of chief actuary and risk officer.
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AM Best has given start-up Bermudian (re)insurer CastlePoint Reinsurance Company Ltd an A- financial strength rating. CastlePoint's parent company, CastlePoint Holdings Ltd, was launched last month with $265mn of private equity capital by the...
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AXA is believed to be again working with the French investment bank IXIS in developing another innovative risk securitisation, according to reports.
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The shares prices of the London Market’s blue-chip insurers were again dragged down today (15 May) as uncertainty continued to grip trading on the London Stock Exchange.
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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.
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German insurer Allianz reported a 35 percent increase in profits in its revised first quarter results on 12 May. Net profit rose to EUR1.78bn this year from EUR1.32bn in the prior-year period.
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Shares in American International Group (AIG) fell 5 percent late last week as investors sold stakes following a 16 percent drop in first quarter net income to $3.2bn on Wednesday (10 May).
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Jardine Lloyd Thomson Group plc is in talks to buy its smaller rival, the resurgent Heath Lambert Group, in a move which might spark another round of broker consolidation fever, according to sources.
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Validus Reinsurance Ltd has become the latest Bermudian reinsurer to launch a sidecar with Petrel Re, a $200mn capitalised vehicle specialising in the stretched marine and energy sector.
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German reinsurer Hannover Re released strong first quarter operating results on 12 May, and said it was on track to hit 2006 earnings targets.
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The corporate scandals that have hit the US in the last few years have made the directors and officers (D&O) market, the toughest to administer claims, according to experts at a London-based conference.
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