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Doom and gloom? Lloyd's stocks rise to all-time highs
Lloyd's stocks are performing strongly on the back of bullish management statements and investors flocking to a sector that is seen as a relative safe haven.
17 November 2008
Transatlantic chief: AIG re-finance takes urgency out of asset sales
Transatlantic Re’s President Robert Orlich welcomed American International Group’s (AIG) revised loan terms with the Federal Reserve as giving the insurance giant “more time to ensure that the right decisions are made...
17 November 2008
IUA announces support for Lloyd's hub pilot
The International Underwriting Association (IUA) has thrown its weight behind the proposed Lloyd's messaging hub and announced that it will take part in the pilot of the system, which is due to take place in early 2009 and go live later in the year.
17 November 2008
Obama regime wary of counter-productive tax measures
While President-elect Obama's democratic administration will move to "re-examine" the relationship between low-tax domiciles and the US, the US is currently in "desperate need of capital for its insurance market"...
17 November 2008
Xchanging bullish with (re)insurance wins
Outsourcing specialist Xchanging has said that revenue growth during the four months ending 31 October has been "slightly ahead" of the board's expectations in a bullish interim management.
17 November 2008
Brazil suspends reinsurance brokers
Brazil’s fledgling private reinsurance market took a knock last week after its insurance regulator Susep suspended the licences of ten of the country’s 30 reinsurance brokers including associate companies of London market brokers.
17 November 2008
JLT cautious on market turn
UK-listed broker Jardine Lloyd Thompson Group plc (JLT) went against the grain of bullish Lloyd’s-based (re)insurers predicting a definitive turn in the market (see articles 2 and 12), stating it has not yet...
17 November 2008
S&P warns on Bermuda; start-up returns questioned
Bermudian (re)insurers are left with a "limited margin for error" following a period that has seen catastrophe losses erode underwriting profits and investment returns plummet, according to ratings agency Standard & Poor’s (S&P).
17 November 2008
Enstar hit by weak Sterling; falls to $49mn loss
Enstar Group Ltd, the Bermudian-based run-off acquisition firm, has fallen to a nine-month operating loss of nearly $49mn after a bruising third quarter which saw the firm take a $29.8mn hit from the plummeting pound.
17 November 2008
Storm experts declare Ike an 'anomaly'
Hurricane Ike, which made landfall as a category two hurricane over Galveston Island, Texas on 17 September after smashing Cuba and the Caribbean, confounded modelling agencies by forming much further west...
17 November 2008
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