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Reserve buffers could accelerate cycle, say analysts
A number of (re)insurers are growing significant reserve redundancies, potentially using them to support margins and returns as the market softens, according to research by analysts at Morgan Stanley.
11 October 2006
Zurich emerges as growing (re)insurance hub
London’s role as an epicentre for international (re)insurance business has been threatened by a number of jurisdictions over the years – not least the seemingly inexorable rise of Bermuda and, closer to home, the emergence of Dublin.
11 October 2006
UIC scheme offers unique return
Provisional liquidator Grant Thornton last month announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1.
11 October 2006
Post-Spitzer scene tough for big three, says S&P
Despite paying over $1bn in settlements and foregoing contingent commissions, the post-Spitzer picture is still not “rosy” for the big three brokers, according to a report by ratings agency Standard & Poor’s (S&P).
11 October 2006
Lloyd’s reports £1.35bn profit on strong underwriting
Lloyd’s last month reported half year pre-tax profits of £1.35bn – marginally down on the £1.38bn booked at the same stage last year – as strong underwriting results in benign conditions were offset by a fall in investment income.
11 October 2006
Lloyd’s proposes annual venture overhaul
Review recommends freeing up of agency agreement and sidecar-style Names’ syndicates Lloyd’s has unveiled plans to overhaul its annual venture in a bid to tackle complaints that its current structure adds costs and restricts management flexibility.
11 October 2006
Brokers warn on stability of solicitors PI market
Leading brokers Marsh and Aon have highlighted concerns over a rapidly softening UK professional indemnity (PI) market.
11 October 2006
US sale fuels R&SA takeover talk
Last month’s long-awaited announcement by UK insurer Royal & Sun Alliance Group plc (R&SA) that it had succeeded in agreeing a deal to cut itself free from its US run-off business has fuelled speculation that the company may be the subject of renewed take
11 October 2006
Clements looks to launch $1bn (re)insurer Ironshore
Bob Clements, the man who has launched a host of (re)insurers throughout a long career in the insurance industry, is looking to raise up to $1bn for Ironshore Ltd, The Insurance Insider revealed last month.
11 October 2006
IXIS aims to float $1bn (re)insurance fund
The French investment bank IXIS is raising funds to float a new $1bn company on London’s Alternative Investment Market (AIM) to invest in the burgeoning insurance-linked securities sector.
11 October 2006
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