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Moody's upgrades QBE's liability syndicate
Consistent profitability and predicted favourable returns have prompted rating agency Moody's to upgrade QBE's non-marine liability Limit Syndicate 386 from A- (good) to A (very good).
01 October 2007
ILS appetite 'undiminished' despite credit crunch
The recent credit crunch is unlikely to dampen insurance linked securities (ILS) investor appetite, according to Standard & Poor's (S&P), as it highlighted increased trading in the secondary market for cat bonds.
01 October 2007
More reserve releases in the pipeline as Lloyd's unveils £1.81bn profit
Lloyd's interim results reflected the strong performance of insurers underwriting in the marketplace as well as warnings of widely softening market conditions.
01 October 2007
Integro settles Guy Carpenter Fac ‘poaching’ dispute
The bitter dispute between the former heads of Guy Carpenter’s facultative (Fac) business and the company they worked for has reached an out of court settlement at the eleventh hour allowing them to join rival broker Integro Ltd.
01 October 2007
Independent trial draws to a close
The trial of three former Independent Insurance executives is drawing to a close in London with the jury expected to start considering its verdict by 21 October, according to the Serious Fraud Office.
01 October 2007
XL Capital in $500mn share buyback
XL Capital has continued the market trend for returning capital to shareholders after announcing its second share buyback programme this year.
01 October 2007
Former HIH director in guilty plea
Former HIH director Dominic Fodera, who is serving a two-year jail term for issuing misleading financial statements, has pleaded guilty to a further criminal charge relating to the collapse of the failed (re)insurer.
01 October 2007
Lloyd's continues reform hires
Lloyd's has continued its recruitment drive to push process reform with the hiring of Anne Rannie from UK (re)insurer Hiscox Ltd.
01 October 2007
Alea reduces exposure with $200mn commutation
Run-off insurer Alea Group Holdings has received a one-time payment of $203.6mn to "fully and finally" commute all exposures with its Bermudian neighbour Max Capital.
01 October 2007
Hedge funds build Benfield stakes as M&A speculation persists
Benfield Group's share price continued to climb today (1 October) with news that another US hedge fund has built its stake in the independent reinsurance specialist.
01 October 2007
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