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R&SA restructures management
Royal & Sun Alliance Insurance Group plc revealed a group restructuring last week to reflect the focus of the company into its UK, International and emerging markets.
16 October 2006
Lloyd’s insurers gear up for growth
Lloyd’s insurers have geared up balance sheets to cash in on attractive post-Katrina underwriting conditions, according to research by equity house Numis Securities Ltd.
16 October 2006
Converium gets retakaful go-ahead in Malaysia
Swiss reinsurer Converium received approval from the Malaysian regulator on 10 October to write retakaful reinsurance through its local office.
16 October 2006
Best assesses ‘tail risk’ from sidecars
Rating agency AM Best is to assess the “tail risk” attached to sidecar operations that are inadequately capitalised.
16 October 2006
Benfield profit warning follows fac exodus
Benfield Group has warned that trading profits are likely to be £10mn lower in 2006 than previously expected because of the loss of senior members of its facultative team to a rival firm.
16 October 2006
Buffett warns Berkshire managers of ‘accounting gimmicks’
Berkshire Hathaway chairman Warren Buffett has warned his senior managers against using “accounting gimmicks” to manipulate stock options in a memo.
16 October 2006
Allstate continues orderly succession
US insurer Allstate Corp announced the next phase of its leadership succession plan on 9 October, with George Ruebenson set to take over from Thomas Wilson as president of Allstate Protection.
16 October 2006
Snook leads Markel defections to Navigators
Stephen Snook has led a four-man team from Markel International to form a UK property team at Navigators.
16 October 2006
Alexander Forbes awaiting take-over bid
South African financial services company Alexander Forbes said it expects earnings per share for the first half of the year to be down by 25-35 percent because of a number of exceptional costs...
16 October 2006
Moody’s completes SCOR’s A revival
Moody’s Investors Service became the latest rating agency to upgrade French (re)insurer SCOR to the all-important “A” territory on 13 October.
16 October 2006
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