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Equitas: asbestos continues to weigh heavily despite commutations
Equitas announced its annual results for the year ended 31 March 2004 on 8 June, revealing a £296mn increase in gross discounted reserves for asbestos claims. Accumulated surplus after tax fell £67mn from £527mn to £460mn, but the reinsurer's solvency
01 June 2004
Concern over XL Capital's Lloyd's operations
Following its rival ACE, XL Capital announced plans to raise over $600mn through the sale of 7mn ordinary shares in the light of the improving rating environment.
01 November 2001
Allianz receives further ratings support
German insurer Allianz received another boost today as rating agency Fitch upped its long term rating from A- to A, and affirmed its financial strength ratings at A+.
15 December 2003
QBE raises $550mn to finance US acquisitions
Australian insurer QBE Insurance Group has confirmed a privately placed $550mn offering of hybrid notes to institutional investors.
30 April 2007
Heritage can merge syndicates despite Hampden opposition
Quoted Lloyd’s insurer Heritage Underwriting Agency can merge its two trading syndicates despite the opposition of members’ agency Hampden Agencies Ltd.
03 September 2007
Heritage to grow international liability with Aaron hire
AIM-listed Lloyd's insurer Heritage Underwriting Agency plc has bolstered its ranks with the hire of international general liability underwriter Mark Aaron from ACE.
02 July 2007
Pru coup with Thiam hire
In a coup last week UK life insurer Prudential poached Tidjane Thiam, head of European operations at rival Aviva, to replace its outgoing finance director Philip Broadley.
24 September 2007
Obesity suits face curb
Legislation curbing the appetite of the US plaintiff bar to launch obesity class action suits took a step closer to reality after a US House of Representatives committee recommended the proposals to a formal vote.
09 February 2004
Equitas fears US tort reform may increase burden
Against the backdrop of US tort reform, some US insurers are lobbying to increase Equitas’ burden of asbestos claims, warned the run-off reinsurer’s new chief executive Scott Moser last week.
15 September 2003
Munich Re’s unravelling applauded
Analysts applauded Munich Re’s announcement last week (26 February 2004) that it would effectively dilute its shareholding in HypoVereinsbank (HVB) by not participating in the bank’s current equity issue.
01 March 2004
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