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QBE set for acquisition expansion after bullish interims
QBE boss Frank O’Halloran is confident his Australian based (re)insurer can exceed 2003 forecasts after delivering upbeat interims last week.
26 August 2003
Trenwick International sold to former Lloyd’s debt collector
Litigation Control Group Ltd, the insurance services company formed by ex-Lloyd’s debt collector Philip Holden, has acquired Trenwick Group’s run-off insurer Trenwick International Ltd.
26 August 2003
BRIT sees further improvement for 2002
Lloyd’s insurer Brit Insurance Holdings Plc revealed that 2002 forecasts for its flagship Syndicate 2987 have improved, leading to the possibility of a return equivalent to 15 percent on its £450mn capacity.
26 August 2003
Reserving problems at Centre hold back Zurich
Despite recording healthy half yearlies significantly outpacing analysts’ expectations, Zurich Financial Services (ZFS) continues to be clouded by concerns over its loss-making finite reinsurance arm Centre.
26 August 2003
Berkshire Hathaway more than doubles profits
Berkshire Hathaway, the holding company run by billionaire investment guru Warren Buffett, announced last Friday that profits had more than doubled in the second quarter of 2003.
18 August 2003
The Hartford outperforms after rocky Q1
US (re)insurance group The Hartford Financial Services announced last Wednesday that profits for the second quarter increased nearly threefold on the same period last year.
18 August 2003
Partner Re outperforms expectations
Bermudian reinsurer Partner Re has followed a solid first quarter with a stronger second quarter performance, comfortably beating analysts’ expectations.
18 August 2003
New UK fraud figures show alarming increase
In the wake of alleged dubious selling practices from the notorious claims manager The Accident Group, a recent study has concluded that at least a third of all claims against local councils may be fraudulent or exaggerated.
18 August 2003
China cracks down on “illegal” foreign insurers
The Chinese authorities are targeting illegal operations of foreign insurers, according to the official Xinhua News Agency.
18 August 2003
Franchise board will be flexible
Lloyd’s franchise performance director Rolf Tolle wrote to Lloyd’s insurers last week explaining he will use his discretion in implementing the franchise performance guidelines.
18 August 2003
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