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$3bn estimate for California wildfire losses
The California Insurance Commission has confirmed that losses from the California wildfires could exceed $3bn.
24 November 2003
Rising UK D&O rates forces search for alternatives
The steep rise in directors and officers insurance is forcing UK companies to seek alternative cover, according to a survey from the Association of Insurance and Risk Managers (AIRMIC).
24 November 2003
WTC trial set for February 2004
The multibillion dollar coverage dispute between World Trade Center leaseholder Larry Silverstein and the building’s insurers is set for a 9 February 2004 trial date.
24 November 2003
Lloyd’s, Munich Re say exposure to Istanbul blasts limited
There will be no significant insurance losses as a result of the terrorist attacks on the British Consulate and HSBC offices in Istanbul, Lloyd’s announced last week.
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
SCOR strikes back at Fitch downgrade
Acrimony between reinsurers and rating agencies flared again last week when embattled French reinsurer SCOR commented that its latest downgrade by Fitch Rating was “unfounded, ill-timed and causes serious damage to the Company”.
24 November 2003
Travelers asbestos settlement continues positive trend
Travelers Property Casualty Corporation became the latest insurer to announce positive news regarding a section of asbestos claims relating to statutory direct actions.
24 November 2003
Everest Re, Odyssey Re announce dividends
Bermudian reinsurer Everest Re has announced dividends of nine cents per share. The dividend will be paid on or before 19 December to all shareholders of record as of November 26, 2003.
24 November 2003
ZFS in profits turnaround
Zurich Financial Services (ZFS) has posted Q3 2003 profits of $701mn, compared with a net loss of $763mn for the same period in 2002.
24 November 2003
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