October 2004/4

Lloyd’s insurer Ascot announced plans last Wednesday (13 October) to set up a Paris operation to tap into continental catastrophe and risk business.

UK headquartered broker JLT Risk Solutions has opened an office in Dubai’s International Financial Centre.

Reinsurance broker Benfield launched a new report devoted to the global D&O and Financial Lines last Wednesday (13 October).

Everest Re’s UK head Mark de Saram is to become the managing director and chief executive of the reinsurer’s Bermudian arm, Everest Bermuda.

UK general insurer Royal & Sun Alliance (R&SA) had its Standard & Poor’s (S&P) ratings outlook upgraded from negative to stable last week (12 October) as the agency recognised the company’s continued turnaround progress.

After several weeks of indifferent news, troubled Swiss reinsurer Converium received a welcome boost last Friday (15 October) with the announcement from Standard & Poor’s (S&P) that it was upgrading its insurer financial strength rating from “BBB” to “BBB