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Kiln increases SA focus
Lloyd’s insurer Kiln has acquired a 25 percent stake in South Africa’s International Marine Insurance Managers (International Marine).
24 May 2004
Europe first quarter results roundup
In contrast to barnstorming Q1 results for US and Bermudian (re)insurers, European carriers enjoy a mixed first quarter with some showing a more subdued uplift from hard market conditions.
24 May 2004
S&P rating unaffected by R&SA bond wording change
Royal & Sun Alliance’s (R&SA) proposal to change terms and conditions on a EUR500mn bond to keep it in line with qualification requirements for regulatory capital with a group solvency test will not affect the rating of the debt, said Standard & Poor’s in
24 May 2004
Moody’s withdraws Trenwick rating
Ratings agency Moody’s has withdrawn its rating on the American arm of bankrupt Bermudian reinsurer Trenwick.
24 May 2004
Odyssey Re rating on the up?
Strong first quarter results at US reinsurer Odyssey Re prompted Moody’s to place its Baa1 insurance financial strength ratings on review for possible upgrade.
24 May 2004
Analysts mixed on Marsh’s $1.9bn Kroll swoop
Broking giant Marsh has announced its first large-scale foray since 1998 with the $1.9bn acquisition of corporate security firm Kroll.
24 May 2004
GoshawK defeats Atletico Madrid appeal
The fronting insurer of Spanish football club Atletico Madrid failed in its attempts to overturn a decision in the UK Courts which allowed London market contingency underwriters to void coverage relating to the side’s relegation in 2000.
24 May 2004
Lloyd’s hints at selling off Kinnect; system meets Acord standard
Lloyd’s has set out the cost of setting up and running its electronic risk placing system, Kinnect.
24 May 2004
Tweedie joins Primary Group
Justin Tweedie, the former underwriter of Heritage Syndicate 1245, has joined the fast expanding Primary Group to help develop its US insurance arm.
24 May 2004
Converium set to launch new catastrophe bond
Swiss reinsurer Converium is set to replace its expiring catastrophe bond Trinom next month with Helix, a new $100mn product that will provide broader coverage than the three-year Trinom bond.
24 May 2004
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