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No more bumper reserve releases, warns Lloyd’s
Lloyd’s insurers are unlikely to benefit in 2009 from the bumper tide of reserve releases that have boosted results in recent years, according to the Corporation’s director of finance, risk management, and operations Luke Savage.
24 March 2009
Lloyd’s makes £1.9bn ’08 profit
Lloyd’s has unveiled a relatively strong set of 2008 market results, with a pre-tax profit of £1.9bn and a peer-beating combined ratio of 91.3 percent as it rides the tide of global financial turmoil.
24 March 2009
FASB issues new proposals on mark-to market
The Financial Accounting Standards Board (FASB) has issued new proposals intended to give companies greater guidance on how to apply mark-to-market accounting.
23 March 2009
White Mountains on negative watch after slump in book value
Bermuda-domiciled White Mountains Insurance Group has found itself on the wrong end of a ratings action by Fitch.
23 March 2009
The rise of UK Plc? A taxing question
The knotty question of how to make London the domicile of choice for the world's (re)insurers was analysed comprehensively at The Insurance Insider's lively London 100 working group in March...
23 March 2009
Lloyd's set to unveil strong ’08 profit
Lloyd's is expected to announce a third straight set of strong annual results for the market tomorrow (24 March), despite the investment turmoil that has swept the industry and a relatively active year for natural catastrophe losses.
23 March 2009
New ILW fund closes at $30mn
Despite investor caution and the category five financial storms, a new industry loss warranty fund (ILW) was launched last week to capitalise on the recent spike in rates.
23 March 2009
Synd 2121 joins Lloyd's hub as Yeo resigns from Argenta
Argenta Syndicate 2121 has become the latest addition to the Lloyd's Asia hub, as the parent of the Lloyd's insurer revealed it has parted company with Richard Yeo - the active underwriter on its existing Singapore-based Syndicate 1965.
23 March 2009
GAUM leads $65mn FedEx Tokyo aviation loss
London-based aviation MGA, Global Aerospace Underwriting Managers (GAUM) is the lead insurer and Aon the broker for the Federal Express (FedEX) cargo plane that crashed at 0650 local time today (23 March) at Tokyo's Narita airport
23 March 2009
Generali: EUR5bn impairments spoil robust operating results
Italy's largest insurer, Assicurazioni Generali SpA, has booked lower-than-expected profits for 2008 after impairment charges of EUR5bn drove its net profit down by 70 percent.
23 March 2009
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