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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.
  • Estimates for the forecast results of Lloyd’s syndicates in the 10th quarter of the 2000 underwriting year have shown few significant deviations from expected results. Only 12 out of 130 results have shown any increase over estimates on the 9th quarter, b
  • 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
  • Silverstein appeals pro-insurer decision but Judge hints at sympathy for WTC carriers The (re)insurers exposed to the WTC programme reacted with relief to US District Judge Martin’s decision that an R&SA subsidiary, the Hartford and St Paul cannot be s
  • It goes against the Lloyd’s ethos of “one market”, but Standard & Poor’s assessments provide a new way to rank syndicates Lloyd's doesn't necessarily approve, but its customers are increasingly focusing on the syndicates they do business with rather th
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