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...

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

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...

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

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

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...

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...

Omni Whittington is set to demerge its insurance and debt divisions enabling its insurance operations to grow internationally. A holding company, Whittington Group Pte, has been set up in Singapore with net assets of $80mn. The majority of the new...

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.

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...

Avian flu could cost insurers up to $200bn if the virus jumped from birds to humans sparking a global pandemic. A range of losses from $71.3bn to $200bn in insured losses is the worst-case scenario according to research from analysts...