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Lloyd’s casts doubt over QBE business plan
Lloyd’s Franchise Performance Board has expressed doubts over the predicted returns for QBE-backed syndicates just one month after the Australian insurer expressed frustration with the market as it refused to recommend an increased bid to buy out Names’ c
03 September 2007
Paris Re profits hit by cats
Recently-listed European reinsurer Paris Re suffered a drop in profits after exposure to 2007’s catastrophes negatively impacted its bottom line.
03 September 2007
Amlin sets challenge with profits leap
Amlin plc threw down the gauntlet to Lloyd’s based insurers poised to unveil their interim results this week when it posted a 54 percent leap in first half pre-tax profits to £154mn.
03 September 2007
Edrich appointed underwriting director of Novae's insurance company
Novae Group's medical malpractice underwriting manager, Bill Edrich, has been appointed underwriting director of its insurance company, Novae Insurance Company Limited (NICL).
03 September 2007
S&P chief steps down amid sub-prime criticism
The head of Standard & Poor’s (S&P) has stepped down just weeks after reports that the European Commission is set to investigate the role of rating agencies in the ongoing sub-prime crisis.
03 September 2007
Odyssey settles with Gulf
Fairfax Financial Holdings controlled US reinsurer Odyssey Re has reached an out-of-court settlement in its litigation with Gulf Insurance Company, it announced last week.
03 September 2007
£50mn new capacity fuels competition for solicitors PI
The 1 October UK solicitors’ professional indemnity (PI) renewals are set to see further rate reductions due to a 17 percent increase in capacity over last year to £350mn, according to broker Marsh.
03 September 2007
Ascot downgraded on AIG guarantee cancellation
Ascot Underwriting Ltd’s Lloyd’s Syndicate 1414 has been downgraded by AM Best after the unconditional guarantee of its liabilities by major capital provider American International Group (AIG) was cancelled.
03 September 2007
SCOR profits driven by life expansion
The leap in gross written premium at French reinsurer SCOR Group following its acquisition of life reinsurer Revios drove a 77 percent increase in net income to EUR181mn during the first half of 2007.
03 September 2007
Cooper Gay buys CRS teams
London-based reinsurance broker Cooper Gay Group has bought the reinsurance and terrorism broking teams of CRS Group (London) plc.
03 September 2007
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