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Lloyd's unveils "optimal platform" plan: Lowering the costs of mutuality at the core of three-year strategy
As exclusively revealed by our sister publication The Insurance Insider on Friday (13 January), Lloyd's has unveiled its vision for the marketplace, which may see differential charging for the Central Fund and a number of other significant reforms...
16 January 2006
CMGL launches investigations unit
Run-off services provider CMGL has launched a fraud investigations unit under the auspices of John Halls, who returns to the company after six years at Omni Whittington and Axiom.
16 January 2006
European stocks well valued after good run
2005 was a terrific year for European insurance stocks, but investors should now prefer the life sector, over property & casualty, warned analysts at Merrill Lynch.
16 January 2006
Hellman & Friedman withdraws from Universal Underwriters deal
US private equity house Hellman & Friedman LLC has withdrawn from the planned acquisition of Zurich Financial Services’ US auto arm Universal Underwriters following the discovery of regulatory irregularities.
16 January 2006
Starr buys out AIG executives
CV Starr has taken another step towards separation from AIG as all eligible shares held by AIG executives were tendered to Starr in response to its buyout offer.
16 January 2006
UK facing more terrorist attacks
A political risk analyst has predicted that the UK will face five more terrorist attacks from Sunni extremists within the next 18 months.
16 January 2006
Lloyd’s calls for end to trade barriers post Katrina
Lord Levene has continued his call to the US to reform its “credit for reinsurance” rules to allow foreign reinsurers to lend more support in the event of another mega-disaster such as Hurricane Katrina.
16 January 2006
Kiln in cash call following storm losses
Kiln plc has become the first Lloyd’s insurer to ask third party capital providers to put up additional capital to cover losses from last year’s storms. Members of Syndicate 557’s 2005 underwriting year are being asked to contribute...
16 January 2006
Benfield predicts 2006 revenue growth
Reinsurance broker Benfield Group predicted better than expected revenues for 2006 on the back of rising reinsurance rates in 2006 and 2007. In a 12 January trading statement, the broker said that it now expected 2006 turnover to grow...
16 January 2006
$200mn more storm losses for Everest
Bermudian reinsurer Everest Re announced yesterday (12 January) that it is raising pre-tax loss estimates from last year’s trio of hurricanes by $200mn to $1.2bn, net of reinstatements. The company now expects the after-tax...
16 January 2006
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