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Novae legacy issues 'under control'
Lloyd's managing agency, Novae Syndicates Ltd has improved its 2005 results forecast for its Syndicate 1007 to 14-19 percent profit, from previous forecasts of 11-16 percent, prompted by a net incurred loss ratio...
12 November 2007
AIG fails to meet analysts’ expectations in Q3
Insurance giant American International Group (AIG) reported operating results for the third quarter below analysts’ expectations, compounded by losses in its AIG Financial Products (AIGFP) division, which suffered a $352mn pre-tax charge on credit default
12 November 2007
Sir Laurie Magnus calls for UK tax reform
UK corporate financier Sir Laurie Magnus said the British government needs to reduce Britain's corporation tax rate to around 20 percent to ensure the City retains its status as a world (re)insurance hub.
12 November 2007
Kiln gains support for buy-back proposal
Investors approved of Kiln's decision last week to return £60mn of capital to shareholders - part financed by the sale of its 20 percent interest in US insurer WR Berkley's European operation.
12 November 2007
UK broking duo hit by share price falls
London-based brokers Benfield Group and Jardine Lloyd Thompson (JLT) saw their share prices drop at the back end of last week after being hit by weak equity markets.
12 November 2007
American Financial Group to back Lloyd's insurer
American Financial Group, Inc (AFG) is to become a significant capital provider to the Lloyd's insurer Marketform Group Ltd, and its Syndicate 2468 in 2008, Insider Week can reveal.
12 November 2007
First German reinsurance run-off transfers to UK
In the first transaction of its kind following Germany's implementation of the EU Reinsurance Directive, Deutsche Rückversicherung AG (Deutsche Rück) transferred all of its run-off business to its UK-based subsidiary last week.
12 November 2007
Joint venture messaging hub ready for London market
A messaging hub that claims it will make effective electronic trading a reality in the London market has been released by messaging specialists TriSystems.
12 November 2007
Scottish Re threatened by downgrade if sub-prime woes continue
Ratings agency Standard & Poor's (S&P) has placed Bermudian life reinsurer Scottish Re on negative outlook after it revealed $102mn of realised capital losses in its third quarter results yesterday (11 November).
12 November 2007
Validus top and bottom line surges on Talbot deal
Bermudian Validus Holdings Ltd almost doubled third quarter profits from $69.7mn to $136.5mn year-on-year as it reported its first set of results reflecting the July acquisition of Talbot Underwriting.
12 November 2007
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