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Analysts mixed on ACE amid accusations of driving D&O down
Bermudian (re)insurer ACE was the topic of much conversation last week as analysts published conflicting and, at times, controversial equity research on the company.
21 June 2004
Glover resigns from SVB
Professional indemnity underwriter Tim Glover has resigned from Lloyd’s insurer SVB amidst suggestions that he may be drawn towards Quanta, the Bermudian insurer planning to launch a Lloyd’s syndicate (see The Insurance Insider, June issue).
21 June 2004
Benfield moves towards electronic documentation
Reinsurance broker Benfield has announced that it can now provide all technical documentation (including claims advice, claims settlement, premium credit closing and treaty balance), in a paperless, electronic format.
21 June 2004
Price Forbes acquires Prentis Donegan
In an unexpected move, Price Forbes – a subsidiary of the world's largest intermediary Marsh - has swooped for the independent London market broker Prentis Donegan.
21 June 2004
TRIA hopes raised
But US treasury warns of premature conclusions on renewal Hopes for extension of the Terrorism Risk Insurance Act (TRIA) in the US were raised last week as the US Treasury Department announced its decision to extend the “make available” provisions of
21 June 2004
AM Best: European reinsurers’ financial strength stabilised
After two years of downward pressure on the sector, European reinsurers are at last seeing stabilisation in their financial strength, according to rating agency AM Best.
21 June 2004
Morgan Stanley not so bullish on AIG
Equity analysts at Morgan Stanley have questioned the more bullish comments relating to AIG’s performance, including its ability to harvest earnings from p/c reserves and its earnings leverage to improved economic conditions and rising interest rates.
21 June 2004
R&SA en route to life disposal
UK insurance group Royal & Sun Alliance (RSA) has confirmed that it is negotiating the sale of its life business.
21 June 2004
Rosemont Re changes focus
Reborn Bermudian Rosemont Re mapped out its progress to date at its annual general meeting last Thursday (10 June), outlining April renewals and plans for the future as it looks to put the past of troubled parent GoshawK Insurance Holdings to rest.
14 June 2004
Equitas doubts remain after £296mn asbestos reserve boost
Charge signals further hits for industry, while doubts remain over run-off reinsurer’s health Equitas announced its annual results for the year ended 31 March 2004 last Tuesday (8 June), revealing a £296mn increase in gross discounted reserves for asb
14 June 2004
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