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  • As ACE Limited announced a solid set of second quarter results, the spectre of asbestos balance sheet threats loomed again amid concerns over the legacy of Brandywine and ACE INA, inherited with the $3.45bn purchase of CIGNA’s p/c operation in July 1999.
  • A"medium term" IPO for reinsurance spin-off Aspen Re has inspired London Stockbrokers Altium Capital to upgrade sister company Wellington Insurance Holdings from a hold to a buy recommendation.
  • George P Reeth, president of Willis North America has resigned with immediate effect, The Insurance Insider can reveal.
  • As widely predicted, Lloyd's increased its estimated net exposures to the WTC attacks by forty-five percent from £1.3bn to £1.9bn. As a consequence, the market has increased its estimated losses for the 2000 year from £0.7bn to £1.49bn. And increased its
  • PXRE’s future in Lloyd’s is called into question as stiff penalties over the management of its syndicates are imposed. It was with no small trumpeting of praise and self-congratulation that Lloyd's announced the formation of the first captive underwri
  • The collapse of capital providers such as HIH will cost Lloyd's more than £400mn, the market's latest annual report reveals.
  • Natural risk takers generally don’t do well as managers of public companies, according to seasoned entrepreneur Stelios Haji-Ioannou, the man who brought us easyJet and easyCar.
  • Investors' enthusiasm for the Lloyd's sector is not unlimited, as Creechurch Group’s decision to post-pone plans to float on AIM proves. Earlier this year, the Lloyd's based insurer appointed advisors Hoare Govett to seek investors prepared to back a £
  • American International Group (AIG) announced last week that it had agreed to buy a 9.9 percent stake of Chinese insurer PICC Property & Casualty for between $200mn and $300mn.
  • Workers' Compensation carveout reinsurance, for 20 years a maverick off-shoot of one the US’s most regulated insurance classes, has at last become the focus of attention by the National Association of Insurance Commissioners (NAIC). A white paper recently