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  • XL boost capital as new team moves in
    Bermudian (re)insurer XL Capital has announced today the completion of a $500mn capital markets transaction.
    14 July 2003
  • Munich Re takes Chinese bow
    Giant German Munich Re has become the first international reinsurer to receive a nationwide composite operating license in China as penetration into the tightly controlled domestic market gathers pace.
    14 July 2003
  • Time runs out as The Underwriter goes into run-off after less than four years
    Troubled UK liability insurer The Underwriter has announced that it has gone into “solvent run-off” and, as of last Friday (11 July), will no longer write new business. The decision comes as a result of an FSA review into the company’s parlous capital sit
    14 July 2003
  • Alphastar faces final filing deadline with Odyssey Re decision imminent
    Alphastar – the firm formerly known as Stirling Cooke Brown (SCB) – has until the end of this week to file overdue financials or face delisting from Nasdaq.
    07 July 2003
  • Hance hits back at Moody's Royal downgrade
    UK insurer Royal and Sun Alliance (R&SA) has fought back against last week’s downgrade by ratings agency Moody’s, expressing its disappointment that “delivered improvements to date are not more fully taken into account.”
    07 July 2003
  • Insurers win on Wall Street
    Insurers exposed to the myriad of US shareholder class action suits were encouraged by New York courts last week who rejected four lawsuits against Wall Street banks and the dot.com companies they helped IPO in the heady days of the late nineties.
    07 July 2003
  • Asbestos bill back in committee this week - but insurers may pull out
    With the Senate Judiciary Committee in recess over the 4 July break, hopes for successful passage of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act were dealt a blow last Thursday as insurers threatened to withdraw from the initiative to set up
    07 July 2003
  • Markel Intl receives AM Best boost
    Markel International, the London based arm of US insurer Markel Corporation, received a boost last week from rating agency AM Best when its financial strength rating was upgraded to A-.
    07 July 2003
  • General insurers less pessimistic says CBI/PWC survey
    General insurers are less pessimistic than they were in the first three months of 2003, according to today’s latest quarterly financial services survey by the CBI and PricewaterhouseCoopers (PWC).
    07 July 2003
  • AXIS to provide excess D&O cover from Bermuda
    Axis Speciality Ltd, the Bermudian insurer formed by John Charman in the aftermath of the 11 September terrorist attacks, announced today (7 July) that it will provide directors & officers liability insurance and other financial lines coverage.
    07 July 2003
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