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  • Lloyd's insurer SVB suffered a 25 percent share price fall as it revealed further deterioration from its US legacy exposures. But the company responded by creating a £103mn plc level reserve fund which, it hopes, will reassure the City of its reserve a
  • Lower than predicted wind speeds and a benign track appear to have mitigated the loss scenario of Hurricane Frances, the second major hurricane to hit the state of Florida in a month. The hurricane, which had been billed as the most powerful and potent
  • Reinsurance brokers are often wont to compare themselves to investment bankers and, in London this year, they have been performing one of the favoured banking traits of financiers - transferring from one employer to another. In particular, it seems the
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • The Risk and Insurance Management Society (RIMS), the powerful trade body for US insurance buyers, has added to the controversy over brokers’ commissions by recommending they should disclose all payments received from insurers, even if not asked to by the
  • The showdown between Lloyd’s and its Swiss Re led reinsurers over the failure to pay more than £300mn of claims on the Central Fund reinsurance contract began today (31 August).
  • Swiss Re, the world’s second largest reinsurer, saw its interim profits double on the back of benign underwriting conditions and strong investment returns in the first half of the year.
  • Revitalised French reinsurer SCOR continued the turnaround from its perilous position of a year ago as it reported improved half-year figures last Thursday (26 August) and set out its “Moving Forward” plan for underwriting and capital allocation over the
  • As predicted in last week’s Insider Week (number 136), Arch Insurance Company (Europe) Ltd (Arch Europe) has bolstered its management by appointing former XL London Market chief executive Nick Metcalf to the newly created role of director of underwriting.
  • Disgraced energy company Enron filed lawsuits against St Paul Fire & Marine, Chubb unit Federal Insurance and Great American Insurance over their alleged refusal to pay on a crime loss indemnity policy covering senior staff.