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Fitch upgrades ZFS financial strength
Giant insurer Zurich Financial Services Group (ZFS) reported a strong set of half-year results last Thursday (18 August), prompting ratings agency Fitch to upgrade its financial strength ratings from “A” to “A+”.
22 August 2005
Omega ups forecasts
Recently quoted Lloyd’s insurer Omega Underwriting Holdings Ltd forecast last week that it would make 10-15 percent profit on a capacity of £152mn for 2003.
22 August 2005
Lloyd’s vehicles boost trading forecasts:
Amlin predicts strong first half year Shares in Lloyd’s insurer Amlin Plc rose sharply on 17 August after the company released a better-than-expected trading statement.
22 August 2005
Cat losses sweep away GoshawK profits
GoshawK – the parent company of Bermudian reinsurer Rosemont Re - issued a profits warning today as exposures from recent catastrophe losses continue to grow.
19 August 2005
Guy Carpenter recruits ex-Benfield executive David Spiller
49-year-old Spiller will begin his new role on 1 January 2005, he will be based in New York and report directly to Guy Carpenter chairman and CEO, Sal Zaffino.
16 August 2005
Canopius outsources accounting functions to Axiom
Specialist insurance services organisation Axiom Consulting has agreed a major deal to supply an outsourced accounting facility to London-based insurer Canopius.
15 August 2005
R&SA continues recovery with doubling in net profits
Royal & Sun Alliance (R&SA) continued its positive 2005 last week, posting IFRS net profits for the half-year of £195mn, more than double the £82mn posted for the same period in 2004.
15 August 2005
Profits up at Hannover Re but hurricane concerns hit shares
Second quarter net profit was up 6 percent at German reinsurer Hannover Re as the firm benefited from increased earnings on premiums, lower taxes and less claims related to natural disasters.
15 August 2005
Reeth in sudden departure from Willis
George P Reeth, president of Willis North America has resigned with immediate effect.
15 August 2005
Crashed Cypriot plane insured by GAUM
The Cypriot jet that crashed in Greece Sunday (14 August) morning was insured in the London market for an estimated $30mn.
15 August 2005
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