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Converium arranges fronting for Global aviation pool
The embattled Swiss based reinsurer Converium revealed last week that Berkshire Hathaway unit National Indemnity Company and Munich Re will providing fronting insurance for its 27.25 percent share of the Global Aerospace aviation pool.
20 September 2004
Arch Europe appoints Xchanging to run back office
The London headquartered outsourcing firm Xchanging has been chosen by Arch Insurance Company (Europe) Ltd to run the company's back office requirements.
13 September 2004
Highway on road to 2004 profit despite 'tough market conditions'
Motor insurer Highway Insurance Holdings said it had achieved a profitable first half in 2004 despite tougher market conditions and exceptional costs of £1.6mn relating to its failed merger with Cox insurance earlier in the year and in respect of the FSCS
13 September 2004
Guy Carpenter swoops for Aon marine chief
Guy Carpenter has recruited marine specialist Tony Pointing, until recently the head of Aon's ReSpecialty Marine and Energy team in London, to become the new head of the reinsurance broker's Marine and Energy Non-Americas division.
13 September 2004
Insider shorts
Admiral sets course for float Despite the gloomy forecasts for UK motor rates, the private equity backed Admiral Group will float on the London Stock Exchange later this month valued at between £634mn and £776mn.
13 September 2004
Wellington 'confident' for 2004
On 7 September Wellington Insurance Holdings posted interim results for the first six months of 2004 that it said reflected continued earnings momentum and a confident outlook for the remainder of the year.
13 September 2004
Kiln posts record profits; outlines new business plan for Syndicate 557
More news of rates remaining firm came from Kiln in its 9 September half-year results presentation.
13 September 2004
Pricing pressure hits Monte Carlo renewals
Reinsurance buyers are demanding price reductions on their treaties as they meet at the annual Monte Carlo Rendez-Vous event to begin the process of negotiating the key 1 January renewals.
13 September 2004
Willis warned over growth despite share buy-back scheme
Despite increasing its stock buyback programme last week by $200mn to $500mn - a time-honoured initiative to buoy a share price - international broker Willis will struggle to maintain its impressive growth record without a major acquisition.
13 September 2004
Brit keeps dividend promise after buoyant interims
London market vehicle Brit’s transformation into a well capitalised, UK general insurer was reflected in its interim results published last week.
13 September 2004
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