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  • Assured Guaranty, the guarantee business unit of insurer ACE, has said it priced 49 million shares at $18 per share in its recent IPO.
  • Quoted Lloyd’s insurers have been given a vote of confidence in the latest research published by London based stockbroker Arbuthnot, with buy recommendations remaining in place on Amlin, BRIT Insurance, Chaucer Holdings, SVB Holdings and Wellington Underw
  • Bermudian (re)insurer XL Capital last week announced its entry into primary casualty for US corporations as part of its large account global P&C business.
  • Motor insurer the Admiral Group has said it is aiming for a £600mn flotation this autumn.
  • Lloyd's chairman Lord Levene has told US business leaders they need to be more concerned about business interruption costs, corporate fraud and increased liability claims if they are to successfully manage risk in an increasingly unstable world.
  • Recent hopes for the resurrection of plans for US asbestos tort reform appear to have run aground after a revised bill failed to get the required number of votes to be put forward for consideration in the Senate.
  • The expansion into Continental Europe by Lloyd’s insurer Liberty Syndicates was boosted last week with the launch of a service company which will help it target new reinsurance business.
  • US regulators turn attention to insurance brokers over the growing practice of charging volume commissions
  • French insurer last week put 2002's €154mn loss behind it, announcing 2003 net earnings of €155mn.
  • Novae Underwriting, the recently launched liability operation of Lloyd’s insurer SVB, announced the appointment of two leading professional indemnity (PI) underwriters last week.