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Lloyd's chief threatens ECF mandate
Lloyd's CEO Richard Ward has warned the London market that the "pace of change" on business processes remains too slow and reiterated his willingness to mandate action if necessary.
12 July 2007
Long road ahead to Solvency II compliance
Although the publication of the draft Solvency II directive for European regulation on 10 July dealt no real surprises to the insurance community, there are still many compliance challenges ahead.
12 July 2007
Harbor Point to launch $500mn US platform
Chubb Re spin-off replaces Federal fronting arrangement and plans European expansion
12 July 2007
Contingent capital demand grows from (re)insurers
Farmers’ landmark $500mn transaction likely to spur new initiatives…
12 July 2007
Allianz upgraded to AA by S&P
Insurance giant Allianz SE and its core operating companies have been upgraded from AA- to AA by Standard & Poor's (S&P) as a result of "major and sustained" improvements in its operating performance.
11 July 2007
Lloyd's chief gives ultimatum on process reform
Lloyd’s CEO Richard Ward has warned the London market that the “pace of change” on business processes remains too slow and reiterated his willingness to mandate action if necessary.
11 July 2007
Farmers in $500mn contingent capital deal
In a pioneering transaction, the US insurer Farmers Insurance Exchange has acquired the right to issue $500mn of regulatory capital if it suffers a severe US natural catastrophe loss in the next five years.
10 July 2007
Gable shares suspended from AIM
Liechtenstein-based liability insurer Gable Insurance had its shares suspended from the AIM stock exchange at 16p after missing the deadline to post its audited results for 2006.
09 July 2007
Travelers in $449mn asbestos settlement
US insurer The Travelers Cos announced last week it has settled one its largest asbestos cases for a total of $449mn.
09 July 2007
TSR lowers 2007 hurricane forecast
Forecaster Tropical Storm Risk (TSR) has lowered its prediction for the North Atlantic hurricane season from 55 percent above the norm to 40 percent.
09 July 2007
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