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  • German giant Allianz has upped its 2006 earnings forecasts following a set of strident second quarter figures that include a 64 percent rise in net profit to EUR2.3bn against analysts' consensus of EUR2bn.
  • Aon Corp has overtaken Marsh Inc to become the world's largest (re)insurance broker by brokerage revenues.
  • Rating agency AM Best affirmed its ratings financial strength rating of A (Excellent) and issuer credit rating (ICR) of 'a' on Lloyd's of London on 31 July.
  • Bermudian giant XL Capital last week (1 August) announced the latest step in a series of organisational changes with plans to develop an integrated European platform for its reinsurance operations.
  • Heritage Underwriting Agency plc has become the latest specialist Lloyd's insurer to list on London Stock Exchange's Alternative Investment Market (AIM) after trading in its shares began last week.
  • The continuing popularity of reinsurance securitisations was reflected this week with news that Bermudian (re)insurer Endurance Specialty Insurance has acquired $235mn of multi-year, collateralised US natural catastrophe reinsurance cover from...
  • South African broking group Alexander Forbes is thought to be close to a deal on its London based international arm, according to sources.
  • GCFac, the facultative arm of reinsurance broker Guy Carpenter, has bolstered its ranks with the launch of a structured risk team headed by former Jardine Lloyd Thompson (JLT) broker John Lobek.
  • Over 60 percent of UK businesses do not have the necessary business continuity management (BCM) plans to protect them in the event of a disaster, according to a survey conducted by Marsh.
  • Over 80 percent of brokers believe that maintaining profit throughout the insurance cycle is still the greatest challenge for the insurance industry.