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  • London News Digest - April 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 April 2004
  • Lloyd's looks to build Central Fund to £2bn
    Radical proposals designed to boost regulatory capital and improve financial strength ratings Lloyd's is planning to treble the size of the Central Fund to £2bn in an innovative scheme which involves a compulsory three-year rolling loan from all of its
    01 April 2004
  • WTC update: Silverstein shenanigans earn court ban but contempt motion dropped
    WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building's insurance cover. This phase of the trial, which began on 9 February,
    01 April 2004
  • Listed Lloyd's insurers show strength
    2003 preliminary results reflect excellent underwriting conditions Amlin posts 83% combined ratio Amlin announced a combined ratio of 83 percent (against 95 percent in 2002) and a 31 percent increase in gross written premium to £937.4mn for its 2003 y
    01 April 2004
  • Markel's praise tempered by concern
    Markel CEO and President Tony Markel has praised Lloyd's for reforms carried out since 2002, but has warned of the need for further change. Markel's comments came in a speech to a crowded Lloyd's library on 16 March, 2004, when he said he was encourage
    01 April 2004
  • HLF recruits new blood but sells US arm
    Buffeted by a draconian restructuring programme and the departure of senior executives, UK broker Heath Lambert had some good news last month - in the shape of a number of new appointments and promotions to its regional and head offices. On 9 March Hea
    01 April 2004
  • Promina thrives as share price climbs
    Australasian general insurer Promina announced last Thursday (25 March) its first set of annual results since being spun off from Royal & Sun Alliance (R&SA) in an IPO last May.
    29 March 2004
  • Hopes not dead for asbestos trust
    Reports from the US suggest that hopes for meaningful reform to the asbestos litigation system may be alive and kicking, with a new bill based on proposals tabled last year to be put to the floor on 19 April.
    29 March 2004
  • $750mn credit agreement for Axis Capital
    Bermudian (re)insurer Axis Capital Holdings has secured a $750mn credit agreement with a syndicate of lenders. In a press release dated 25 March, the company said the agreement was for an unsecured three-year facility that allows it to issue up to $750mn
    29 March 2004
  • WTC update: Silverstein avoids contempt ruling; defence witnesses take the stand
    WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building’s insurance cover.
    29 March 2004
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