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  • The broking industry continues to report an “escalating decline in organic revenue”, according to the latest research from investment bank WFG Capital Advisors LP.
  • Troubled French reinsurer SCOR revealed the extent that events of the last few months have impacted its business prospects last week as it admitted 2004 renewals suggest a reduction in expected gross premium for the year of 29 percent in non-life and 11 p
  • Rating agencies rallied around beleaguered SCOR after the French reinsurer had its EUR750mn rights issue endorsed by 91 percent of shareholders at an extraordinary general assembly last Monday (1 December) and announced a complete exit from credit derivat
  • Bermuda headquartered Catlin Group saw its 2005 net income plummet by 87 percent to $19.7mn after incurring a net loss of $333.5mn from the hurricanes Katrina, Rita and Wilma (KRW). The (re)insurer also announced that it has raised £38mn capital...
  • Professional Indemnity veteran Reg Brown has retired from the board of Lloyd’s insurer Kiln plc with immediate effect. In an announcement to the London Stock Exchange today, Kiln’s chairman Nick Cosh explained: “Some months ago Reg indicated his wish..
  • 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-.
  • 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.
  • Besieged Bermudian reinsurer PXRE Group Ltd revealed last Wednesday (10 May) that it has lost two-thirds of its business following its recent troubles.
  • US (re)insurance group The Hartford Financial Services announced last Wednesday that profits for the second quarter increased nearly threefold on the same period last year.
  • A programme of subordinated debt is offering a new route to capital for Lloyd's and London (re)insurers, The Insurance Insider can reveal.