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Carter leaves Dex
Weeks after marine insurer Dex left Lloyd’s following disagreements with the Society’s underwriting watchdog, the Lloyd’s franchise board, chief executive Mark Carter has parted company with the organisation.
15 December 2003
AM Best boost for Amlin and Omega
The Christmas season started on a bright note for both Omega and Amlin with the news that AM Best had affirmed its ratings for Omega’s Syndicate 958 while granting Amlin’s Syndicate 2001 an inaugural A rating.
15 December 2003
QBE the latest to withdraw from troubled space sector
QBE International has become the latest insurer to withdraw from the loss struck space insurance sector.
15 December 2003
Cox takes ÂŁ4.5mn hit on collapse of Tribune
Lloyd’s underwriter Cox has admitted liabilities of up to £4.5mn in relation to the failure of Scottish insurer Tribune on 10 December.
15 December 2003
Xchanging focuses on market reform
Business outsourcing specialist Xchanging has announced the creation of a London Market Executive Group, with the aim of delivering market initiatives in 2004 and aligning business processes to support market reform.
15 December 2003
R&SA on verge of selling its UK life business
UK insurer Royal and Sun Alliance (R&SA) has secretly appointed Goldman Sachs and Lehman Brothers to sell its UK life business, the Sunday Times reported yesterday (14 December).
15 December 2003
Catlin appoints bankers for potential IPO
London based insurer Catlin Group has appointed JP Morgan, Goldman Sachs and UBS to advise on a 2004 IPO, according to reports last week.
08 December 2003
ACE to spin off financial guaranty business
Bermudian giant ACE last week announced plans to spin off its financial guaranty business next year in a New York IPO. ACE said it will offer 65-75 percent of its interest in the new company.
08 December 2003
Aspen beats expectations on IPO, Names keep options open
Aspen Re – the spun-off Bermudian arm of Wellington Underwriting – announced last Wednesday (3 December) that it had exceeded expectations in achieving a $22.50 price for its New York IPO.
08 December 2003
Willis announces $600mn loan facility
Willis – the world’s third largest broker – announced last Thursday (4 December) it had successfully completed a finance deal providing it with $600mn unsecured credit facilities, made up of a $450mn term loan and a $150mn revolving facility.
08 December 2003
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