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Novae applauds "quiet delivery" of 2Qs
Matthew Fosh, the chief executive of the recently rebranded UK insurer Novae Group plc, has described his company's updated Lloyd's syndicate forecasts as a "quiet delivery" of the group's objectives.
31 July 2006
AIG ends marine and energy business with Starr
Giant US insurer American International Group (AIG) has ended its business relationship with American International Marine Agency (AIMA), a subsidiary of CV Starr & Co.
31 July 2006
New £100mn Lloyd's vehicle misses IPO deadline
ICP Ltd, a proposed new investment vehicle specialising in the Lloyd's sector, has effectively withdrawn its plan to IPO on London Stock Exchange's Alternative Investment Market (AIM) after failing to raise sufficient funds.
31 July 2006
Fairfax shares fall after tumultuous week
Shares in Canadian combine Fairfax Holdings had dropped 3.45 percent by the end of trading on Friday 28 July - and are down around a third in the last year - after a tumultuous week which witnessed possible ratings actions...
31 July 2006
ACE sets scene with strong second quarter
In a busy week for (re)insurers' interim results, Bermudian-headquartered ACE Ltd revealed a strong second quarter on 25 July with net income (excluding realised gains) climbing 31 percent to $579mn and a combined ratio of 88 percent for...
31 July 2006
S&P may upgrade Converium to cherished "A-" status
Swiss reinsurer Converium took another welcome step on the road to recovering its crucial A- rating today when Standard & Poor's (S&P) moved its ratings onto positive watch.
31 July 2006
Max Re profits at $17.3mn
Bermudian reinsurer Max Re Capital reported on 28 July that its quarterly profits had slipped to $17.3mn, or $0.27 a diluted share, compared to $23.3mn, or $0.47 per diluted share in the prior-year period.
31 July 2006
Glencairn swoops for JLT financial institutions duo
The independent London market broker Glencairn Ltd has poached James Baird and Paul Richards from rival Jardine Lloyd Thompson Group plc, Insider Week can reveal.
31 July 2006
Heath Lambert unveils £8.6mn profits for first half
Privately owned UK broker Heath Lambert Group has announced a 19 percent rise in profit in its half-year trading statement today (31 July) - a day before its larger rival Jardine Lloyd Thompson Group plc unveils its own figures.
31 July 2006
Lloyd's insurers continue capacity buy-outs
The drive for Lloyd's insurers to control and own the capital supporting their syndicates continued last week with a series of offers by managing agents to buy the capacity rights from Lloyd's Names.
31 July 2006
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