November 2004/1

Evidence suggests the cumulative effect of the US storms may reach $30bn Foresight is something the global reinsurance industry would love to possess but, in the absence of catastrophe astrologers, it has to rely on more conventional methods, such as c

David Schiff looks at financial strength... Insurance stocks are not as richly priced as they were in 1998, when investors and insurance-company CEOs alike seemed to believe that an insurance-company charter guaranteed a fifteen-percent return on equit

Lloyd's insurer Wellington has outsourced its procurement of external professional advisors to back-office specialist Xchanging.

Lloyd's insurer Beazley announced a £105mn Rights Issue on 1 November with the lion's share directed to support the additional risk-based capital requirement fuelled by its increased participation on its Lloyd's Syndicates for the 2005 year. The insure

Lloyd's announced on 10 November that it had successfully set terms for its £500mn subordinated debt issue after an extensive road show that took it to investors in the UK and continental Europe.

Lloyd's insurer Kiln has reversed plans to withdraw its full participation on property catastrophe reinsurance Syndicate 557 following negotiations with Members' Agents. The Syndicate, which is de-empting for 2005 by nine percent on its 2004 stamp capa

Besieged Swiss reinsurer Converium revealed on 4 November that Group CFO Martin Kauer had handed in his resignation and would be leaving the company in early 2005.

The re-election of George Bush in this month's presidential elections will give added impetus to efforts to extend the Terrorism Risk Insurance Act (TRIA) in 2005, according to Charles Landgraf, a leading lobbyist for TRIA extension with law firm LeBoeuf,

SEC and Department of Justice launch separate, renewed investigations into PNC and Brightpoint transactions; PR firm slammed for 'Talking Heads' ruse... Fresh from fending off accusations of PSA-related bid-rigging and fraud, world's largest insurer AI

As third quarter results filter through from US and Bermudian property casualty (re)insurers, the full impact of the season's quartet of hurricanes is becoming clearer, with interim results hit hard across the board. Hurricanes Charley, Frances, Ivan a

Earlier this month, Florida's attorney general Charlie Crist became the latest US regulator to open an investigation into alleged bid-rigging and insurance commission arrangements. Crist's office said that he had subpoenaed 10 insurance brokers: MMC,

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.