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2001 year sees only limited deterioration
Despite the old saw that bad years get worse, latest estimates from Lloyd’s syndicates showed only limited deterioration on the dreadful 2001 underwriting year.
01 December 2003
Wellington armed with new £120mn credit facility
Ten days after Lloyd’s insurer SVB announced a £50mn convertible bond and a shift away from Letter of Credit (LOC) financing, rival Wellington Underwriting said it had secured a new credit facility of £120mn with a group of banks.
01 December 2003
Hannover Re performs and sees end to write downs
Germany’s Hannover Re followed up solid half year figures with a “highly gratifying” third quarter result as it reported operating profit for the year to date 41 percent higher than at the same stage last year and upped year end profit forecasts from EUR3
01 December 2003
Aon 77 returns to centre stage with debate over Elk exposures
Royal Courts of Justice Court 22 was packed today (1 December) with representatives of no less than five legal teams to hear the opening arguments of the Aon 77 trial.
01 December 2003
JLT acquires 60 strong aviation team from HLF
Jardine Lloyd Thompson Group plc has agreed to pay £9.4mn to acquire much of the aviation business and personnel from fellow London based broker, Heath Lambert.
01 December 2003
S&P still negative on reinsurance ‘old guard’
Standard & Poor’s negative stance on the reinsurance industry was confirmed last week at the ratings agency’s European Insurance Seminar, held at London’s Gibson Hall on 20 November.
24 November 2003
GoshawK concludes strategic review
The “for sale” sign hoisted above GoshawK has been taken down, as the insurer revealed it has concluded the strategic review which began in July.
24 November 2003
AXA Re falls to 'A-'
AM Best has downgraded the financial strength rating of Paris-based reinsurer AXA Re and its subsidiaries from “A” (excellent) to “A-“ (excellent) with a stable outlook.
24 November 2003
Wellington expands US accident and health account
Lloyd’s insurer Wellington has expanded its US operations with the recruitment of a ten strong accident and health underwriting team from Reinsurance Management Group.
24 November 2003
Collins Stewart employee arrested on suspicion of currency fraud
London securities house Collins Stewart Tullett has confirmed that one of its US employees was arrested by the FBI last week on suspicion of currency fraud.
24 November 2003
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