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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
LeBoeuf and Dewey Ballantine merge
New York law firms LeBoeuf, Lamb, Greene & MacRae LLP and Dewey Ballantine announced that they have entered into a definitive agreement to merge, subject to partner approval last week.
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
Mathers quits Kiln
Stephen Mathers is to retire as active underwriter of Syndicate 807 for the 2009 year of account less than a month after it was announced that Andrew Carrier, the former active underwriter of Kiln’s Lloyd’s Syndicate 557 and the reinsurance division of it
03 September 2007
SCOR seals Converium deal; cuts growth targets
French reinsurer SCOR has today announced its updated three-year strategy for creating a top 5 global reinsurer following the closing of its $2.8bn Converium Holding AG acquisition.
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
Heritage can merge syndicates despite Hampden opposition
Quoted Lloyd’s insurer Heritage Underwriting Agency can merge its two trading syndicates despite the opposition of members’ agency Hampden Agencies Ltd.
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
Judge approves $449mn Travelers settlement
A US bankruptcy judge has approved The Travelers Cos’ settlement of one of its largest asbestos cases for a total of $449mn.
03 September 2007
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