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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
Hannover ups forecast following 3Qs; shares fall
German reinsurer Hannover Re reported a "gratifying" third quarter result in which the group posted net income of EUR123.5mn.
20 November 2006
Hiscox shareholders approve Bermuda move
Hiscox plc received approval for its proposed corporate reorganisation and move to Bermuda from shareholders at a Court Meeting and EGM on 15 November.
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
Ward considers Corporation overhaul
The Corporation's chief executive Richard Ward is understood to be close to ordering a restructuring of its senior management and reporting structures, according to sources.
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
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
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
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
Ascot moves to Singapore; appoints ex MI6 head as chairman
Ascot Underwriting became the latest Lloyd’s insurer to target growth in the South-East Asia by opening an office in Singapore.
20 November 2006
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