November 2005/4

Lord Levene used his ‘Chairman’s View’ lecture to the Insurance Institute of London speech at Lloyd’s today to warn the industry against apathy in the face of the looming contract certainty d-day. Levene said: “Contract Certainty is a good thing, we...

Shares in Lloyd’s insurer Wellington Underwriting plc have fallen more than 6 percent in trading today after the company suddenly increased its Katrina loss estimates by a further $100mn. By mid-afternoon, Wellington’s shares were trading down over...

Bermudian (re)insurer XL Capital revealed late last night (23 November) that it is set to lose out in a dispute with Credit Suisse over its acquisition of certain Winterthur International insurance operations that could hit fourth quarter results to the t

Bermudian headquartered Quanta Capital Holdings has parted company with its founding chief executive Tobey Russ.

The fast-expanding broking group Integro Ltd has established a London market foothold with the acquisition of Lloyd’s broker Humphreys Haggas Sutton & Co.

Embattled (re)insurance group Alea Group Holdings has sold the renewal rights of its US primary programme business written by its Alea Alternative Risk (AAR) subsidiary to New York based AmTrust Group in a deal likely to be worth between $20mn-$40mn.

The burden from this year’s US storms will push quoted Lloyd’s insurer Wellington Underwriting plc into an underwriting loss for the year, the company revealed last week. According to the insurer – which underwrites through Lloyd’s Syndicate 2020...

Loss-adjusting form Crawford & Company is to expand its Chinese business with a 25 percent stake in Tino Insurance Surveyors & Adjusters. And the company plans to take full managerial control of the firm subject to Chinese regulatory approval.

But bigger is not necessarily better as competitors look to move in… In a press conference last Friday (18 November), Swiss Re’s incoming CEO Jacques Aigrain highlighted the “remarkable fit” between his company and the (re)insurance operations of GE.

If its proposed acquisition of GE Insurance Solutions concludes without a hitch next summer, Swiss Re will be able to proclaim itself as the biggest reinsurer on the planet, leapfrogging its rival, Munich Re. Based on 2005 estimates, the combined...

The Association of Run-Off Companies (ARC) will hold their 7th Annual Congress themed “Whose market is it anyway?” on 7-8 March 2006. The conference will be held in London and aims to bring together professionals from all fields that are involved in...

US broker Aon has announced that it will be exploring alternatives for its property and casualty underwriting business Combined Insurance Co as it continues to restructure. Aon, and rival brokers Marsh and Willis, have been forced to look at means...