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  • 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.
  • Lloyd's may lose some its current monitoring and compliance duties, under new tighter supervision from the FSA.
  • 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
  • Arch Capital announced strong second quarter results, booking net income of $104.3mn, or $1.42 a share, against $61.8mn, or $0.91 a share for the comparable quarter last year. The performance took the total for the year so far to $191.7mn, or $2.69 a s
  • Lloyd’s (re)insurer Chaucer’s plans to merge its syndicates 587, 1084 and 1096 into one have met with a mixed reception.
  • Finding a good franchise performance director will not be easy Lloyd’s search for its Underwriting Tsar steps up a gear with the recent unveiling of its franchise proposals. Containing few surprises, the 56 page consultation document published by the C
  • Tax reform bolsters results but disappointment with Clarendon acquisition gives weight to the Cassandras. Hannover Re, the world’s fifth largest reinsurer, expects gross premium income to grow by 25 percent for 2000 to some €8.4bn. However, pre-tax inc
  • Ratings agency Moody’s says improved underwriting performance, historically cautious reserving practices and relatively low levels of financial debt justify its stable outlook for German non-life insurers.
  • Fundraising total tops $3.5bn, with further moves imminent Although a fresh wave of (re)insurance start-ups is not expected to wash onto the shores of Bermuda, the island has once again led the way in capital raising, as the industry responds to...
  • Wellington are planning a 50 percent increase in capacity after agreeing terms for quota share reinsurance and a new parallel syndicate.