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  • Hannover Re is understood to be looking at solutions to reduce its exposure to reinsurance recoverables, which have risen significantly on the back of last autumn’s record industry hurricane losses.
  • Despite last autumn’s record industry hurricane losses, Lloyd’s insurer Kiln beat market expectations with a £8.5mn pre-tax profit, as strong investment income, a reserve release and an increase in fees and profit commission from its managing agency...
  • Lloyd’s insurer Hardy bucked the trend of underwriting losses when it reported profits of £7.5mn for 2005 on 22 March, underpinned by a positive underwriting result of £6.3mn. Despite the 17.8 percent increase on the previous year’s underwriting...
  • US Directors & Officers cover is returning to Lloyd's after an almost complete withdrawal 18 months ago. Beazley is in negotiations to put together a $10mn Lloyd's facility in conjunction with other underwriters thought to include Hiscox. Beazley recently
  • Specialist investment banking group Numis Securities has been removed from the Register of Sponsors of Lloyd's Capacity offers for two years following proceedings bought against it by the Society.
  • Lloyd's insurer Hardy bucked the trend of underwriting losses when it reported profits of £7.5mn for 2005 on 22 March, underpinned by a positive underwriting result of £6.3mn.
  • In what would appear to be a further flexing of Franchise Performance Directorate muscle, Dex Services announced on 25 November that its Syndicate 2241 was pulling out of the Lloyd's market, ceasing underwriting at the end of 2003. Managed by Thomas Mi
  • A programme of subordinated debt is offering a new route to capital for Lloyd's and London (re)insurers, The Insurance Insider can reveal.
  • Bermudian (re)insurer Max Re reported an $11.4mn or 20 cents a share, fourth quarter net loss and a full-year net profit of $6.7mn, or 13 cents a share for 2005, primarily as a result of a $129.7mn loss development on a prior-year contract.
  • As predicted in the January issue of our sister title The Insurance Insider, Allied World Assurance Holdings Ltd (AWAC) is set to become the last of the so-called “Class of 2001” to go public after filing for an initial public offering (IPO) of up to...