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Brit restructures operations
UK insurer Brit Holdings plc announced the creation of an independent underwriting advisory forum as part of a group restructure.
30 July 2007
AM Best upgrades Markel Intl to A
Markel Group has seen AM Best upgrade its financial strength rating on its London-based platform Markel International Insurance Co Ltd.
30 July 2007
More subpoenas in ongoing reinsurance investigation
Connecticut’s attorney general, Richard Blumenthal, has issued 20 subpoenas as part of the continuing investigation into anti-competitive practices in the reinsurance industry.
30 July 2007
Chaucer continues Lloyd’s de-emption trend
Chaucer Syndicates Ltd has become the latest Lloyd’s insurer to cut back its stamp for next year, after confirming a planned 8.3 percent reduction in capacity for its Syndicate 1084.
30 July 2007
Validus debuts despite market nerves
In a volatile week for the global equity markets, Bermudian (re)insurer Validus Holdings made its debut on the New York Stock Exchange with shares priced at $22, below the $24-26 range it set at the beginning of the month.
30 July 2007
Montpelier grows platform, shrinks premium
Montpelier Re Holdings Ltd reported stable second quarter operating profits of $54mn as it took a $30.5mn hit from UK and Australian flood losses in the period, partially offset by reserve releases and an increase in investment income.
30 July 2007
Bassett leaves Montpelier in Guy Carpenter link
Retro specialist John Bassett has been linked with a return to reinsurance broker Guy Carpenter after parting company with Bermudian Montpelier Re, Insider Week sources can reveal.
30 July 2007
London market reinsurers suffer N Korean setback
London market reinsurers led by Allianz suffered a blow following a High Court decision in their controversial EUR44.3mn dispute with the North Korean state insurer.
30 July 2007
Beazley shares climb on record interim profits
Shares in Lloyd’s (re)insurer Beazley Group plc rose by around 6 percent this morning (30 July) as it reported a doubling of profits in the first half of 2007 on the back of income growth, low claims and rising investment income.
30 July 2007
R&SA shares fall despite China win; flood losses set to rise?
Resurgent UK insurer Royal & Sun Alliance Group saw its shares slide last week against a backdrop of fears over flood losses and jittery investors following the turmoil in the global credit markets.
30 July 2007
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