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Best affirms Syndicate 3000
Ratings agency AM Best has affirmed its syndicate rating of “A” (Excellent) and the issuer credit rating of “a” of Markel managed Lloyd’s Syndicate 3000, with both ratings on a stable outlook.
04 July 2005
Snow: TRIA must change
Uncertainty over the future of the federal backstop for insurance cover against acts of terror grew in Washington last week as US Treasury Secretary John Snow stated that the Terrorism Risk Insurance Act (TRIA) should not be renewed in its current form.
04 July 2005
AIG shows underlying strength in delayed 1Qs
After finally filing its long delayed 2004 10-K report at the end of May, world's largest insurer AIG continued to play catch-up with the Securities and Exchange Commission (SEC), delivering its first quarter 2005 results last Tuesday (27 June).
04 July 2005
'Systemic abuse' absent in Aussie broker review
Australian regulator the Australian Securities and Investments Commission (ASIC) announced last Thursday (30 June) that it had uncovered no evidence of systemic abuses of broker remuneration practices of the kind exposed by the Spitzer probe in the US.
04 July 2005
Benfield wins key primary account from Marsh
Reinsurance broker Benfield’s strategy of growing its corporate primary business received a fillip with news that it has won the Seacor account from rival Marsh.
04 July 2005
JLT to start charging PSAs again
Jardine Lloyd Thompson admitted last week that it will again start charging placement service agreement (PSAs) revenues because of a lack of a "level playing field".
04 July 2005
Hardy calls halt to merger - but Omega "is continuing its dialogue with Hardy shareholders"
Hardy underwriting has announced the termination of merger talks with fellow Lloyd’s insurer Omega.
01 July 2005
Mapfre buys UK agency
Spanish insurance group Mapfre bought the UK intermediary Abraxus last week for ÂŁ10.5mn.
27 June 2005
Softening market highlights European reinsurance divide
As the market continues to soften, a divide is emerging among European reinsurers, with stronger companies unencumbered by recent problems outpacing their peers, according to Benfield’s latest quarterly report on the sector.
27 June 2005
QBE reshuffles European structure
Australia headquartered (re)insurer QBE is set to merge its European commercial and European divisions to create a single Dublin based operation.
27 June 2005
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