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Ratings environment remains healthy, says Hiscox in 2004 half year results
Evidence of continuing hard market conditions came with last week's interims from Lloyd's specialist insurer Hiscox which revealed record operating profits of £61.7mn, an increase of 134 percent.
20 September 2004
Chaucer tells good story with 2004 interims
Chaucer Underwriting became the latest Lloyd’s insurer to celebrate the recent, strong underwriting conditions by posting a 32 percent increase in pre-tax profits to £18.8mn for the first half of the year.
20 September 2004
Fast expanding Catlin comes up trumps on maiden interims
“Continuing positive market conditions” have helped Catlin Group almost double its net income from $50.7mn to $95.8mn in its first ever interims as a public company.
20 September 2004
Cooper Gay swoops for JP Woods duo
The independent Lloyd’s broker Cooper Gay has recruited Nick Newman and Judy Benson to run its new US domestic treaty business.
20 September 2004
Insider shorts
Wellington chief buys £500,000 shares Wellington Underwriting’s new chief executive Preben Prebensen acquired almost £500,000 worth of his company’s shares earlier this month.
20 September 2004
Insurance securitisations not replacing traditional reinsurance
Despite recent suggestions from the likes of Swiss Re that capital markets will increasingly bear the burden of large-scale risk, Standard & Poor’s (S&P) believes the securitisation market is serving as a complementary form of risk transfer, and not a sub
20 September 2004
Best rates Syndicate 382
Ratings agency AM Best has affirmed its syndicate rating of "A" (Excellent) and issuer credit rating (ICR) of “a+” on Hardy Syndicate 382, both ratings issued with a stable outlook.
20 September 2004
More evidence of a difficult year at Cox
A difficult year for motor specialist Cox continued last week with a set of interims that saw a halving of pre-tax profits to £13.7mn from £28.3mn for the same period in 2003.
20 September 2004
Trust fund compromise likely to be too little too late
Political posturing over proposals for a compensation fund for asbestos victims stepped up last week as reprised negotiations between Senators Tom Daschle and Bill Frist renewed hopes that a solution may be in the pipeline.
20 September 2004
Ivan roars but losses lower than first feared
But third major US hurricane in a month avoids New Orleans; creates lower than predicted loss scenario An energetic storm season continued unabated last week with the landfall of Hurricane Ivan, the third major hurricane to hit the US in the space of
20 September 2004
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