November 2003/3
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XL Re Europe announced last week the opening of its Paris underwriting office. The office will underwrite non-life business in France, Belgium and Luxembourg, and will be headed up by the current head of the company’s property department Jeremy Hindle.
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Aviation lawyer Sean Gates has launched a new legal practice specialising in aerospace, commercial and private equity law. Gates and Partners will include Dan Soffin, and Adosh Chatrath, both former partners with Gates’ former practice Beaumont and Son.
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National Association of Insurance Commissioners (NAIC) president Mike Pickens has advocated modernisation of state insurance regulation in the US, but baulked at suggestions that power should be taken away at the state level, as some have suggested with p
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AM Best has reaffirmed the ‘A’ (Excellent) financial strength rating of Lloyd's Syndicate 510, the RJ Kiln-managed Lloyd’s syndicate, citing excellent current and prospective operating performance and business position.
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Aon, the world’s second largest insurance broker, saw its net income fall by nearly 10 percent in Q3 2003 on the back of losses at its discontinued automobile finance servicing business, according to its results published last week.
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Insurer CNA surprised the markets last week with news that it would push back the date of its earnings announcement from 6 November to 12 November.
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GoshawK has parted company with its chief executive Chris Fagan as part of a management reshuffle, the company announced on 10 November.
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Heath Lambert Group, the world’s seventh largest broker, has unveiled a management shuffle as part of a financial restructuring which may end speculation about the Group’s future.
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Mutual fund hit by lawsuits, client withdrawals, ratings downgrades
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Insurer The Hartford Financial Services Group announced a 29 percent increase in net income for the third quarter of 2003.
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Berkshire Hathaway posted a 58 percent increase in third-quarter earnings including investment gains last Friday (7 November).
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Bermudan specialty lines insurer Axis Capital Holdings reported a 60 percent increase in Q3 earnings, helped by a more than doubling of gross written premiums.
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