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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
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
Lloyd’s and QBE sues airlines over WTC losses
Lloyd’s syndicates, together with London based QBE International Insurance, filed suits last week against American and United Airlines, over losses they have paid out from the WTC attacks.
13 September 2004
Aspen chooses London for new aviation team
Bermudian (re)insurer has announced its intention to enter aviation insurance from 2005.
06 September 2004
Pressure to reform US State regulation grows
An attempt to overhaul the US’ state-by-state based insurance regulation is gaining pace with the publication of a discussion draft of an Act which will give insurers far more freedom to set their own rates.
06 September 2004
Benfield recruits Aon casualty team
The reinsurance intermediary Benfield Group is set to reverse the trend of staff departures by revealing that it has recruited a four strong, London based international casualty team from rival Aon Re.
06 September 2004
Hurricane Frances’ Florida rampage less savage than first feared
Florida’s second major hurricane of the season, Hurricane Frances, caused less damage than predicted over the weekend after it weakened to a category 2 storm prior to making landfall 30 miles north of West Palm Beach near the town of Stuart at around 1am
06 September 2004
Benfield: Bermuda builds capital nest egg
Bermuda’s (re)insurers continued to build their balance sheets in the second quarter on the back of another strong earnings period.
06 September 2004
Imagine expands with $100mn fund raising
The Barbados headquartered reinsurer Imagine Group has increased its capital base to over $500mn with a $100mn private placement to institutional investors.
06 September 2004
SVB shares fall 25 percent on prior-year deterioration; builds £103mn legacy fund
Lloyd’s insurer SVB saw its share price fall by 25 percent last week as it revealed further deterioration from its run-off US legacy exposures.
06 September 2004
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