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S&P reassesses syndicate ratings
Two Lloyd's syndicates have suffered downgrades from agency Standard & Poor's (S&P) as it conducts its latest Lloyd's Syndicate Assessment (LSA) review.
03 July 2006
AWAC files for further capital boost
Bermudian (re)insurer Allied World Assurance Co (AWAC) is set to continue its capital building strategy after its forthcoming initial public offering (IPO) with the issue of $500mn senior notes.
03 July 2006
AIG and CV Starr split marine businesses
Giant US insurer American International Group (AIG) and CV Starr announced last week in simultaneous, but separate, statements their intention to split their marine and energy businesses in future.
03 July 2006
Aon sells warranty division in $710mn deal
Broker Aon Corp has agreed to sell its warranty arm to Canadian conglomerate Onex Corp in an estimated $710mn deal.
03 July 2006
7/7 memorial service to be held in City of London
A memorial service for the victims of the 7/7 2005 terrorist bombings in London will be held in the City on Friday 7 July.
03 July 2006
UK start-up begins trading
Start-up UK insurer Novae Insurance Company Ltd, which is part of newly rebranded Novae Group, started trading today (3 July).
03 July 2006
JLT close to £130mn Heath Lambert buy-out
Jardine Lloyd Thompson Group plc is close to securing its rival Heath Lambert Group plc in a £130mn deal which promises to create a dominant UK regional player, The Insurance Insider can reveal.
29 June 2006
GoshawK warns of Wilma deterioration
Failed (re)insurer GoshawK today (29 June) released its 2005 preliminary results, revealing an after-tax loss of $140mn and warning that further deterioration in Hurricane Wilma losses would not be covered by its reinsurance protection.
29 June 2006
Munich Re on path to S&P upgrade
Bavarian giant Munich Re moved a step closer to restoring its once cherished double A rating today, with the news that Standard & Poor’s (S&P) had revised its outlook on the company’s A+ rating from stable to positive.
27 June 2006
Insurers dealt UK asbestos blow
Insurers were dealt a blow last week as government ministers said they will amend UK compensation laws in response to a House of Lords ruling that could potentially have reduced payouts to asbestos-related claimants.
26 June 2006
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