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S&P negative on Aon after interims
Rating agency Standard & Poor’s last week revised its outlook to negative on Aon after the broker’s latest interims showed the firm’s margins continue to lag behind its peers.
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
HLF loses International team
Pension deficit deteriorates; film finance exposures could cost £200mn+ HLF Group plc was hit by a further wave of resignations last week as its 12 strong International Facilities and Binders team handed in their notices.
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
HCC unveils strong 2Q results and Rockwood acquisition
Houston Casualty Company Insurance Holdings Inc, the US based specialty insurer, unveiled strong earnings for the second quarter with net earnings increasing 29 percent to $34.7mn.
18 August 2003
C.N.A. boosts reserves by $308mn and sounds warning
US insurer C.N.A became the latest carrier to reveal sizable additions to loss developments last week when announcing a $308mn after-tax charge to second quarter earnings.
18 August 2003
AXIS powers ahead with rapid US growth
Hot on the heels of its successful float on the New York Stock Exchange, Bermudian AXIS Holdings has reported continued strong performance for the first six months of the year.
18 August 2003
Arch set for key appointment
Ralph Jones, the newly recruited president and chief executive of Arch Insurance Group, is set to be reunited with former Chubb colleague Bob Van Gieson later this year.
18 August 2003
Energised Glencairn keeps growing
In its first year as an independent entity, the London market broker Glencairn Ltd unveiled a 47 percent increase in operating income to £14.575mn for 2002.
04 August 2003
Markel continues improvement
US insurer Markel Corporation has reported strong second quarter results, returning net income of $5.97 per diluted share for the period, against $2.36 per share for the equivalent period last year.
04 August 2003
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