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Hiscox and Omega make Bermuda move; Wellington next?
Lloyd’s insurers Hiscox plc and Omega Underwriting Holdings plc both revealed last month that they are to redomicile to Bermuda, sparking speculation that other players such as Wellington Underwriting plc may be preparing to make a similar move.
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 insurers profit on underwriting
But dollar fluctuations continue to deliver mixed results to bottom line figures
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
Wellington opening Bermuda operation "highly likely"
Wellington Underwriting plc is "highly likely" to join its Lloyd's rivals Amlin plc, Hiscox plc and Omega Underwriting Holdings plc by opening a Bermudian operation by the end of the year, according to Numis Securities’ analyst Nick Johnson.
11 October 2006
100 not out...
This month, The Insurance Insider has two reasons to celebrate. It is not only our 100th issue – a feat in itself – but also ten years since the publication was born.
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
Aon looks to poach leading Fac team
Aon Re Global appears to have pulled off a coup with the hiring of Elliot Richardson, currently head of facultative reinsurance at rival Benfield Group, to run its global Fac operation.
11 October 2006
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