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  • Munich Re, the world's second largest reinsurer, increased its WTC loss reserves by a further $500mn to €2.7bn sparking a collapse in the value of European stocks.
  • Dear Sir, Re: Laptop: Diversification of Risk I was pleased to see another reference in your January 2001 column to my 1988 MBA dissertation on risk and reward at Lloyd’s. A few minor points might interest you.
  • Every summer, four competing publications produce what they claim are the definitive guides on Lloyd’s syndicates’ performances. These guides - produced by the Association of Lloyd’s members, in association with AM Best; Chatset; Thomson and Moody’s -
  • Wellington chief buys £500,000 shares Wellington Underwriting’s new chief executive Preben Prebensen acquired almost £500,000 worth of his company’s shares earlier this month.
  • The WTC dispute ignites again as Swiss Re strives to prevent Silverstein from appealing pro-insurer decision In a strongly worded response to Silverstein's attempts to appeal the New York Court's decision to deny summary judgment against Travelers Ind
  • Ratings agencies responded rapidly to last Tuesday’s (29 June) news that Germany’s Gothaer Group has decided to run-off its reinsurance arm Gothaer Re, merging it with holding company and 70 percent shareholder Gothaer Finanzholding.
  • Markel International was downgraded by rating agency Fitch after its parent posted a $70mn charge. Fitch Ratings commented, "Markel International's operating performance and capitalization do not support the current ratings." The agency subsequently lower
  • Reinsurance is back in favour and, with generous subsides, Zurich's unwanted R/I division should enjoy a successful floatation. For sale. One reinsurance company no longer wanted by owner. Embarrassing exposures to Unicover after failed fronting arrang
  • Bermudian PXRE continued its drive to become a Cat and Risk Excess only reinsurer as it reported second quarter net income up 51 percent, but revenues and net premiums down 20 and 17 percent respectively, with the withdrawal from the last of its Finite ri
  • Amlin, the largest independent Lloyd’s insurer, has announced plans to raise £80mn from a rights issue to fund a buy-out offer to Names on its flagship Syndicate 2001.