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October 2002/1

  • We've been concerned about insurance companies' financial strength since... well, since forever. Over the years we've written dozens of articles about insurance buyers' disregard for financial strength and the danger that entails. Risk that is "transferre
  • Royal & Sun Alliance, the embattled UK insurer currently looking for a long-term replacement to its former chief executive Bob Mendelsohn, needs up to £2.4bn to shore up its capital base.
  • Single occurrence victory in WTC and strong 1H 2002 performance overshadowed by loss of triple A rating
  • The UK Government may be sued by embittered Lloyd's Names, following a European Parliament report that condemned the Government for its failure to regulate the Lloyd's market.
  • Rating agency A.M. Best has placed the financial strength rating of A- (Excellent) of Gerling Global and its core subsidiaries under review with negative implications.
  • Lloyd’s Members Agency remains hopeful that its innovative Fund will attract sufficient support as syndicates wait in the sidelines Lloyd's members' agent SOC Group extended the deadline for raising funds on its new investment fund yet remains confiden
  • Beazley, the Lloyd’s managing agency looking to expand its operations, is now aiming for a London flotation.
  • Retro expert BF Caudle’s future was strengthened last month by a £30mn injection into its capacity provider Advent Capital Holdings Ltd by Fairfax and Zenith, but the Lloyd’s insurer is still reducing its 2003 underwriting.
  • While European shareholders are becoming less tolerant of capital raising, Lloyd's investors just can't say no On 30 September SCOR announced a €400mn share issue, ostensibly to enable the French reinsurance group to increase its underwriting. SCOR's s
  • The angina monologue Snide is aware of persistent rumours in the London office of the world’s second largest insurance broking house, Aon, that UK chairman and CEO Dennis Mahoney has had the misfortune to suffer a heart attack this summer. Curiously
  • Lloyd's may lose some its current monitoring and compliance duties, under new tighter supervision from the FSA.
  • Lloyd’s insurer will ask for shareholders’ approval before continuing to write controversial viatical schemes GoshawK, the quoted Lloyd’s insurer, has agreed to seek their shareholders’ approval before writing viatical insurance - the controversial pra
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