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XL builds financial guaranty muscle
Bermudian giant XL Capital announced last Tuesday (6 January) that it has ploughed $100mn additional capital into its financial guaranty arm to fund business growth.
12 January 2004
Willis buys Danish broker Kirecon
Willis revealed today (12 January) that it has agreed to buy Danish reinsurance broker Kirecon A/S, headquartered in Copenhagen.
12 January 2004
Kiln first to offer new Lloyd’s War cover
Kiln plc revealed last week that it is the first Lloyd’s insurer to offer Long-term and Domestic War on Land insurance, a new class of cover which combines both multi-year international war insurance with domestic war on land.
12 January 2004
Correction: Former CBS Names’ executives
In the last edition of Insider Week (No 154) we referred to Lloyd’s members’ agency Hampden Agencies recruiting a former CBS Names’ executive, Roger Sedgwick Rough, who had been made “redundant”.
10 January 2004
Amlin and Wellington cautiously optimistic on market
Two of Lloyd’s leading players, Amlin and Wellington, released trading statements last week revealing average rate falls of four and five percent respectively for 2004.
10 January 2004
Class actions on the rise
The number of US securities class actions increased in 2004 as shareholders continued the willingness to support actions against publicly traded stocks.
10 January 2004
ACE reduces asbestos exposures with Brandywine sale
ACE Ltd has partially lifted the asbestos albatross which haunted the company’s reserves ever since it acquired CIGNA Property & Casualty business in 1999, by selling its run-off unit Brandywine to Randall & Quilter Investment Holdings Ltd.
10 January 2004
Spitzer joins SEC in General Re finite probe
Little over a week after receiving a request for information on the sale of its “non-traditional or loss mitigation insurance products” from the Securities and Exchange Commission (SEC), Berkshire Hathaway unit General Re revealed last Thursday that it ha
10 January 2004
Swiss Re launches CEA cat bonds
The California Earthquake Authority (CEA) has issued two tranches of catastrophe bonds, collateralising high-end property losses from personal and commercial lines in California.
10 January 2004
Highway takeover announcement fuels shareprice surge
Specialist motor insurer Highway appears to be back on the takeover menu – with the company announcing on 4 January that it had received expressions of interest from a number of bidders.
10 January 2004
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