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ZFS in profits turnaround
Zurich Financial Services (ZFS) has posted Q3 2003 profits of $701mn, compared with a net loss of $763mn for the same period in 2002.
24 November 2003
Dividend news
(Re)insurer ACE last week announced a dividend of 19 cents per ordinary share, for the third quarter of 3002.
17 November 2003
Under-reserving ‘cheapest form of gearing’, says Brit’s Douetil
Brit chief executive Dane Douetil has called for more honesty in the way underwriters and regulators calculate reserve strengths.
17 November 2003
Dresdner drags down Allianz - again
Despite improvements in underwriting performance, German giant Allianz continues to be dragged down by its ailing banking arm Dresdner, together with further investment write downs and tax charges.
17 November 2003
Fitch database launch
Ratings agency Fitch has launched a new database listing report and account information on over 6000 insurance companies across 100 countries.
17 November 2003
‘B’ rating for Limit 2999
Lloyd's Syndicate 2999, managed by Limit Underwriting Limited, has received a first time B Average performance with a stable outlook by Moody’s rating agency.
17 November 2003
Sound asset-liability management key to weathering emerging market storms
A new report by reinsurer Swiss Re has highlighted how insurers can withstand the effects of financial crises in emerging markets by having a sound capital base and efficient asset-liability management.
17 November 2003
Marsh parent faces lawsuits despite initial settlement
Marsh & McClennan (MMC) and its subsidiary Putnam is facing at least 16 lawsuits over allegations of improper fund trading, it has emerged.
17 November 2003
JLT wins Middle East contract
JLT has won a Middle East energy contract in the teeth of competition from heavyweight broker rivals Aon, Willis and Marsh.
17 November 2003
Aspen aims for $1.46bn market cap
Aspen Insurance is to launch on the NYSE with an initial public offering of 9.5 million ordinary shares at between $20 and $22 per share.
17 November 2003
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