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  • Capita Insurance Services, part of the giant UK outsourcing group Capita Group, is in talks to acquire the run-off consultants Claims Management Group Ltd (CMGL), Insider Week understands.
  • Amlin plc opened the Lloyd's 2006 reporting season and set a challenging pace with record pre-tax profits of £342.7mn and a lowly combined ratio of 72 percent...
  • The competitive trading conditions for insurance broking overshadowed Jardine Lloyd Thompson Group plc’s (JLT) 2006 results this morning where the theme of declining rates and the weak dollar was paramount.
  • Amlin plc opened the Lloyd’s reporting season and set a challenging pace for its peers with record pre-tax profits of £342.7mn on the back of clement cat conditions and its decision to cut back its reinsurance/retro spend.
  • A report into the European run-off market by PricewaterhouseCoopers (PwC) has estimated its size at in excess of EUR204bn of liabilities.
  • Tawa UK, the run-off acquisition firm backed by the French billionaire François Pinault, has acquired Continental Management Services Ltd (CMS), a (re)insurer with gross assets of $285mn.
  • Bavarian giant Munich Re has raised its 2007 earnings guidance on the back of record 2006 profits of over EUR3.5bn – 28.5 percent up on the prior year.
  • Rating agency Standard & Poor's (S&P) is launching a new set of ratings for the run-off sector to indicate the expectation of recovering the principal from (re)insurers.
  • Converium saw its position strengthened in its efforts to fight off a hostile takeover bid by rival SCOR as it regained its desired A- financial strength rating from Standard & Poor's (S&P).
  • Catastrophe modelling agency Risk Management Services (RMS) has lowered its industry loss estimate for European Windstorm Kyrill to a range of EUR3-4bn.