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Benfield shares fall as it warns on 2005 profits
Reinsurance broker Benfield Group has warned that 2005 profits will be lower than last year because of an increasing cost base.
13 June 2005
FBI focuses on insurance fraud
The FBI has placed insurance fraud high on its agenda because of the size of the industry, according to its 2005 Financial Crimes Report released last month.
13 June 2005
FM Global issues $300mn cat bond
FM Global announced last week its first involvement with catastrophe bonds after Goldman Sachs placed a $300mn bond covering earthquake activity in the Northwest region of North America.
13 June 2005
AM Best upgrades QBE London operation
Ratings agency AM Best has upgraded the financial strength rating of London (re)insurer QBE to "A" (Excellent) from "A-" (Excellent) and the company's issuer credit rating to "a+" from "a-", citing a stable outlook for both ratings.
13 June 2005
MMC to remain intact
MMC’s wholesale arms Price Forbes and Clump are likely to be the only significant units spun-out of the broking giant, the company confirmed last week.
13 June 2005
Aon survey: Loss of reputation tops business risks
Corporate Britain rates loss of reputation and business interruption as its biggest health risks in 2005, according to a survey by broker Aon ahead of the annual conference of The Association of Insurance and Risk Managers (AIRMIC) which kicks off in Brig
13 June 2005
ALM welcomes English LLPs
The Association of Lloyd’s Members welcomed the possible arrival of English Limited Liability Partnerships as an alternative investment vehicle for private Lloyd’s investors at its national conference last week.
13 June 2005
Amlin confirms takeover talks with Chaucer
Amlin plc confirmed last week that it is in discussions with fellow Lloyd’s insurer Chaucer plc about a possible takeover.
13 June 2005
EU approves reinsurance directive
The European Parliament has approved the reinsurance directive which paves the way for a regulatory level playing field for companies operating in Europe.
13 June 2005
Wellington AGM statement shrugs off market softening
A positive trading update from Lloyd’s (re)insurer Wellington was enough to give the company’s share price a small fillip to close up 4.61 percent at 107.75p Wednesday last week.
13 June 2005
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