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Lloyd’s insurers maintain syndicate forecasts
Lloyd’s insurers Hiscox plc and Omega Underwriting Holdings plc have announced unchanged mid-point profit forecasts for the 2004 and 2005 underwriting years.
21 August 2006
Legal Services Bill to increase exposure for UK law firms, Marsh
The Legal Services Bill currently passing through the UK Parliament will cause major changes in the structure and ownership of many major law firms and increase their risk exposure, according to broker Marsh.
21 August 2006
Glacier Re rating affirmed following cash injection
Swiss-based reinsurer Glacier Re has responded to rating agency concerns following last year’s hurricanes by further bolstering its capital base with a $30mn cash injection from existing shareholders.
21 August 2006
Fitch affirms Lloyd’s A rating
Fitch Ratings has affirmed Lloyd's Financial Strength (IFS) rating of A (excellent) with an Issuer Default Rating (IDR) of A-. Both ratings have been assigned a stable outlook.
21 August 2006
UK run-off investor buys Chevanstell Ltd
Randall & Quilter Group Investment Holdings Ltd, the UK based acquirer of run-off businesses, has acquired Chevanstell Ltd, The Insurance Insider can reveal.
21 August 2006
Quanta loses PwC as auditor
Following the resignation of its deputy chairman Michael Murphy last month, Quanta Capital Holdings has suffered further setbacks. The insurance company has suffered a 3.3 percent drop in its shares today (21 August) on top of a 9 percent drop last Friday
21 August 2006
Fairfax subsidiary delays results
Another subsidiary of Canadian combine Fairfax Financial Holdings announced last week that it would be delaying the filing of its second quarter results because it needed extra time to adjust accounting errors.
21 August 2006
Alexander Forbes sells international arm in £86mn deal
South African-headquartered broker Alexander Forbes Ltd has reached an £86mn deal with US broker Lockton Companies Inc and private equity firm Stone Point Capital LLC to sell its London-based international arm, Alexander Forbes International Risk Services
21 August 2006
ZFS outperforms on P&C strength
Insurance giant Zurich Financial Services (ZFS) last Thursday (17 August) reported half-year net profits of $1.96bn, up 9 percent on the first six months of 2005, and ahead of analysts’ consensus of $1.8bn.
21 August 2006
Sportscover launches new Lloyd’s syndicate
Leading sports underwriter Sportscover announced on 15 August that it is launching a new Lloyd’s syndicate specialising in covering amateur sports.
21 August 2006
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