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ZFS beats consensus despite $500mn asbestos boost
Insurance giant Zurich Financial Services revealed a near trebling of its third quarter profit last week but analysts were surprised by a $500mn UK asbestos reserves boost with the firm blaming an "uptick" in claims trend.
20 November 2006
Swiss Re denies bid rumours
Reinsurance giant Swiss Re was moved to deny reports yesterday evening that it had made a bid for the UK life funds consolidator Resolution plc.
20 November 2006
HCC parts with founder following options probe; shares fall
Stephen Way has become the latest "A list" US insurance executive to suddenly resign from his company following regulatory scrutiny into its activities.
20 November 2006
Ex JLT exec to head RK Harrison
RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.
20 November 2006
Wellington facing scrutiny following syndicate capacity trading
Trading by Wellington Underwriting plc in this year's Lloyd's syndicate auctions is being scrutinised following revelations that the company bought capacity on its own syndicate at a fraction of the price now being offered as part of the Catlin Group take
20 November 2006
Advent back to profit
Quoted Lloyd’s reinsurer Advent Capital (Holdings) plc gave an upbeat assessment of trading conditions while unveiling a profit before tax of £12.1mn for the first nine months of the year.
20 November 2006
AIMA becomes Starr Marine
The CV Starr & Co controlled managing agency American International Marine Agency of New York (AIMA) changed its name to Starr Marine Agency on 13 November.
20 November 2006
London pushes ahead with electronic claims file
The London market's first fully paperless claim settlement has been completed between reinsurance broker Guy Carpenter and Lloyd’s insurer Amlin.
20 November 2006
Oil sees member slippage
Oil Insurance Ltd has announced that nine of its shareholder members would be departing from the energy mutual at the end of the year.
20 November 2006
White Mountains latest to unveil share buyback; brokers accelerate programmes
Fresh from its third quarter return to profit, Bermudian-headquartered White Mountains Insurance Group Ltd became the latest (re)insurer to announce plans for a share buyback. According to the company, it would acquire up to 1 millon shares.
20 November 2006
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