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GM continues R&SA battle despite court defeat
Royal & Sun Alliance Insurance Group plc (R&SA) won a significant victory in its acrimonious battle with General Motors last week after a Michigan Circuit Court ruled...
29 January 2007
Brokers push for ECF mandate
London market brokers are pushing for Lloyd’s to mandate change in a push to see all claims processed electronically by the end of the year.
29 January 2007
FSA salutes contract certainty achievement
The Financial Services Authority (FSA) acknowledged last week that the UK insurance industry has met the challenge set by the regulator to achieve contract certainty.
29 January 2007
Lloyd’s remains attractive to capital – S&P
A record capacity of £16.1bn for 2007, up 9 percent from last year’s £14.8bn, is proof that Lloyd’s remains an attractive proposition for investors, according to rating agency Standard & Poor’s (S&P).
29 January 2007
Hannover Re says Kyrill loss at EUR120-180mn; cat rates to rise
Hannover Re expects its losses from Windstorm Kyrill to be between EUR120-180mn before tax with an overall industry loss estimated at EUR4-7bn.
29 January 2007
Former Heath boss takes charge of Willis’ UK operation
David Margrett, the former group chief executive of Heath Lambert, is to take over as chairman and CEO of Willis Ltd, the broker's UK operation.
29 January 2007
Lawsuit threat silences Fairfax critic
Morgan Keegan insurance analyst and long-term bear of Canadian combine Fairfax Financial Holdings, John Gwynn, has announced that he is dropping the company from his coverage due to a stock manipulation lawsuit.
29 January 2007
The Hartford posts record profits on low cat year
Benign catastrophe conditions contributed to US insurer The Hartford Financial Services Group reporting record fourth quarter net income of $783mn, or $2.42 a share, and full year 2006 net income of $2.7bn – a 21 percent increase on 2005.
29 January 2007
Kyrill may trigger Munich Re cat bond: S&P
The European windstorm Kyrill may trigger Munich Re’s EUR110mn cat bond, Aiolos, as the reinsurer announced last week that its losses from the storm may be in the region of EUR600mn.
29 January 2007
Brokers’ role comes to the fore in EU investigation
After a year-and-a-half long investigation, the European Commissioner for Competition Neelie Kroes published her preliminary findings into the business insurance sector last week which raised concerns...
29 January 2007
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