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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
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
Fitch downgrades Employers Re to ‘AA-’
Rating Agency Fitch Ratings downgraded its financial strength rating on Employers Re to “AA-” last week, citing concerns over the reinsurer’s reserves.
26 July 2004
Converium’s shares in freefall after profit warning; questions over management
The market’s negative response to last Tuesday’s (20 July) shock profit warning and announced reserve boosting by Swiss reinsurer Converium shows no sign of abating, as the company’s share price continues its slide to less than half its value one week ago
26 July 2004
US backing key for Capital IPO
Capital Insurance Holdings, the Berkshire Hathaway backed Lloyd’s consolidation vehicle, is on schedule to float on the Alternative Investment Market next month after raising its target funding.
26 July 2004
News in brief
Anglo-American scheme increase The joint scheme administrators of Anglo American Insurance Company, KPMG partners Tony McMahon and John Wardrop, revealed that the payout percentage has climbed yet further from 85 percent to 90 percent.
19 July 2004
Hannover Life Re in for ING Re?
According to reports, world’s fourth largest reinsurer and third largest life reinsurer Hannover Re is carrying out due diligence on the US life reinsurance business of Dutch financial services outfit ING.
19 July 2004
FSA climb down on risk manager regulation
UK risk managers’ representative body AIRMIC has welcomed a statement from the Financial Services Authority (FSA) that many group risk managers will be spared from regulation imposed by the Insurance Mediation Directive when it comes into force at the sta
19 July 2004
Fortress Re settles Japanese 9/11 claims
Aioi Insurance, Sompo Insurance and Taisei Reinsurance announced last week that they had settled claims against US reinsurance agent Fortress Re over losses related to the 9/11 terrorist attacks.
19 July 2004
More disposals at R&SA
UK insurance group Royal & Sun Alliance (R&SA) has announced the sale of its Pakistan based business to the International General Insurance Company of Pakistan Limited for a consideration of around £700,000 to be paid in cash.
19 July 2004
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