October 2006/3

Quoted Lloyd’s insurers Hardy Underwriting Group plc and Advent Capital Holdings plc are taking the final steps towards achieving the buy-out of remaining Names’ capital.

Review recommends freeing up of agency agreement and sidecar-style Names’ syndicates Lloyd’s has unveiled plans to overhaul its annual venture in a bid to tackle complaints that its current structure adds costs and restricts management flexibility.

With aviation renewals in full swing recent entrants to the market have pushed available capacity up to unprecedented levels, according to Steve Doyle, the manager of Aon’s Aviation and Aerospace Global Practice Group.

The Financial Services Authority’s (FSA) decision to look more closely at brokers’ commission disclosure has been broadly welcomed by the London market.

A number of (re)insurers are growing significant reserve redundancies, potentially using them to support margins and returns as the market softens, according to research by analysts at Morgan Stanley.

London’s role as an epicentre for international (re)insurance business has been threatened by a number of jurisdictions over the years – not least the seemingly inexorable rise of Bermuda and, closer to home, the emergence of Dublin.

Paris-based investment bank Calyon has completed a $63mn securitisation, Pinnacle, once again demonstrating the industry’s growing enthusiasm to sell-on risk to the capital markets.