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Lloyd’s US trust fund cash exposed to Mainsail II
Although Lloyd’s expects sub-prime related claims to be a fraction of the liability losses that hit the market as a result of Enron, WorldCom, laddering, and other corporate scandals of the early noughties...
08 October 2007
Hampden raises £7.4mn on AIM
Lloyd’s investment vehicle Hampden Underwriting plc (HUP) has closed its subscription offer on the London Stock Exchange’s Alternative Investment Market (AIM) after raising £7.4mn.
08 October 2007
Taiwan and China hit by Krosa
After hitting Taiwan as a Category 4 storm on 6 October Typhoon Krosa weakened before hitting China forcing the evacuation of 1.4 million people the following day. Krosa made landfall in China near the Fujian/Zhejiang Province border with winds...
08 October 2007
Solicitors' PI rates continue to drop
The 1 October renewal season saw competition-driven rate reductions for solicitors’ professional indemnity insurance for most law firms in the UK.
08 October 2007
Jury's interpretation key in Independent trial
How the jury interprets the words of Independent Insurance's former CEO Michael Bright and other key witnesses will be key to the outcome of the trial, according to the summing up of Judge Rivlin.
08 October 2007
Ruxley in landmark reinsurance-funded acquisition
Legacy business purchaser Ruxley Ventures is expected to outline a pioneering financing technique at a court hearing this Thursday into whether to sanction the firm's proposed acquisition of Generali Assurances Generale (GAG).
08 October 2007
AIRROC grows to record size
The US-based Association of Insurance & Reinsurance Run-Off Companies (AIRROC) has been in existence for less than three years but its flagship Commutations event has already become...
08 October 2007
Lightyear backs £135mn start-up Antares syndicate
Chaucer Holdings plc has continued its track record of launching turnkey Lloyd’s operations with the £135mn private equity-backed Antares Syndicate 1274 – to take on the London market portfolio of WürttUK...
08 October 2007
ABI for action on flood risk
The Association of British Insurers (ABI) has called on the UK government to take action on flood risk following this summer’s events.
08 October 2007
October hurricane forecast still above-average
Forecasters at Colorado State University (CSU) research team are predicting above-average hurricane activity for the last two months of the season.
08 October 2007
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