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  • At a time when the London insurance market is attempting to address its failures to deliver policy wordings on time, one risk manager has raised the possibility of paying more if it ensures contract certainty takes place.
  • XL slashed its reinsurance top line in the third quarter and reported lower group operating profits year-on-year as a larger release from reserves was not enough to offset higher cat and non-cat losses in its P&C business.
  • The Lloyd's Franchise Board has been granted more time to consider raising the Central Fund levies next year in a move which may prove unpopular with the insurers who trade in the market.
  • Shipowners face a hike in premiums next month after the International Group of P&I Clubs (IG) unveiled general increases on all classes of vessel in its excess of loss reinsurance renewal, as the impact of heavy claims in 2006 and 2007...
  • A EUR1bn bill from last year’s natural catastrophes – including almost EUR800mn from Hurricanes Katrina, Rita and Wilma (KRW) – dragged Hannover Re’s net income down from 2004’s 279.9mn to EUR49.3mn.
  • Elevated weather-related claims hit Allstate's bottom line during the first quarter, as operating earnings declined by 9.1 percent to $558mn or $1.30 a share compared to $647mn or $1.35 a share in the prior-year period.
  • Sub-prime woes continued at American International Group (AIG), as it reported third quarter operating results below analysts' expectations, compounded by a $352mn pre-tax charge on credit default swaps...
  • It is the last chance to join The Insurance Insider, and our illustrious panels of senior reinsurance executives, at two free-to-attend Post-Katrina briefing events in London later this week.
  • UK broker Windsor plc revealed its brokerage revenues had increased by 5 percent to £18.96mn to the year-end 30 September 2004 on the back of a “stable” UK insurance market.
  • Lloyd’s insurers Chaucer and Beazley have added their figures to the list of early estimates of damage from hurricane Katrina.