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Kiln 557 downgraded on alteration to business plan
Ratings agency Moody's has downgraded the performance rating of property catastrophe insurer RJ Kiln Syndicate 557 from "A" Very Good to "A-" Good with a stable outlook. Moody's said the downgrade was because of management proposals to reduce the syndi
01 August 2004
International News Digest - August 2004
In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
01 August 2004
London News Digest - August 2004
In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
01 August 2004
R&SA impresses as capital position improves
Refocused UK general insurer Royal & Sun Alliance (R&SA) reported half year figures slightly ahead of forecasts on 12 August, and saw its share price rise 5.5 percent as markets and analysts took a more bullish line on the group's capital position and fut
01 August 2004
AWAC veteran Morrison bows out with Bermuda tribute
Post-9/11 Bermudian start-up Allied World Assurance Holdings (AWAC) confirmed last Thursday (22 July) that veteran market figure and vice-chairman Michael Morrison will retire with effect from 1 October after half a century in the industry.
26 July 2004
Equitas in $118mn Enpro asbestos settlement
Environmental services company EnPro Industries has announced a $118mn “comprehensive agreement” with Lloyd’s reinsurer-of-last-resort Equitas in relation to its asbestos exposures.
26 July 2004
Allianz embroiled in Spearmint spat
More details have emerged of the dispute between insurer Allianz and lap dancing venue Spearmint Rhino, which is suing the German company in the UK’s Royal Courts of Justice for non-payment of claims..
26 July 2004
Aon: insurers must get tougher on compensation claims
The UK insurance industry must become tougher on spurious claims if it is avoid a reputation of being a “soft touch”, Aon warned today (26 July, 2004).
26 July 2004
Safeco P&C profit more than trebles
US insurer Safeco has reported an increase in Q2 earnings to $247.5mn, or $1.77 per share, from $111.9mn, or 81 cents per share for the same period in 2003.
26 July 2004
Taranto talks straight as Everest maintains strong showing
Barbados-based (re)insurer Everest Re unveiled strong second quarter results last Monday (19 July), but listeners to the company’s conference call were treated to candid comments on rates and the state of the market, with softening across most lines of pr
26 July 2004
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