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Central Fund levy forecast to fall in 2008
Lloyd’s Central Fund contributions and subscriptions charges will be held steady for 2007, but the Society believes it will be in a position to cut the Central Fund levy for 2008 – a year ahead of original forecasts.
13 July 2006
AWAC prices shares for IPO at $34
Bermudian reinsurer Allied World Assurance Company Holdings (AWAC) announced today (12 July) that shares for its IPO will be priced at $34.
12 July 2006
Fitch removes ACE American Re’s rating
Fitch Ratings affirmed and then removed its insurer financial strength rating of CCC+ on the ACE American Reinsurance Company (AARe).
12 July 2006
Katrina causes fall in UK’s financial services exports
The far-reaching affects of Hurricane Katrina were felt in the UK’s financial services industry last year, where net exports dropped for the first time in a decade.
11 July 2006
Flynn joins Towers Perrin
Shaun Flynn, the recently departed managing director of AM Best International, has joined consultancy Towers Perrin as senior vice president of Reinsurance.
11 July 2006
Lloyd’s investment vehicle in £100mn AIM float
Insurance Capital Partners – a Lloyd’s investment fund launched last year – plans to float on the London Stock Exchange’s Alternative Investment Market (AIM) later this month in a bid to raise £100mn.
11 July 2006
Swiss Re to lose 2000 jobs
Swiss Re - the world's largest reinsurer - will lose 2000 jobs following its acquisition of GE Insurance Solutions. The reinsurer said it has already reduced 250 positions, many at “management level”.
11 July 2006
Former QBE underwriter joins LMA
Former Lloyd's underwriter and insurance arbitrator Mel Goddard is to join the Lloyd's Market Association (LMA) as the Director of Underwriting.
10 July 2006
Greenberg says AIG restatement was "flawed"
Former American International group (AIG) chairman, Maurice "Hank" Greenberg has called the restatement of four years of the firm's earnings was "flawed".
10 July 2006
Illinois turns up heat on Liberty Mutual
Illinois' Lisa Madigan became the third state attorney-general to increase the pressure on industry giant Liberty Mutual Inc when it filed a lawsuit against the firm alleging unlawful behaviour in relation to undisclosed contingent commissions...
10 July 2006
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