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Levene calls for a refocus on underwriting
As delegates gathered in Monte Carlo last Tuesday (9 September), Lord Levene, Chairman of Lloyds called for a return to underwriting for profit to stabilise and strengthen the international insurance industry.
15 September 2003
Endurance continues commitment with permanent UK headquarters
Post-9/11 start-up Endurance officially opened the new offices of its FSA licensed London subsidiary on Friday morning (12 September).
15 September 2003
Partner Re unscathed by Fabian
Bermudian reinsurer Partner Re faces “only modest” claims from Hurricane Fabian, the category 3 storm which struck the island on 5 September.
15 September 2003
Asbestos reform struggles for centre stage
Senator Orrin Hatch has not given up on his asbestos reform proposals and believes the measure may still make it to the Senate floor this year, despite being overshadowed by Iraqi funding, energy policy and Medicare concerns.
15 September 2003
Advent continues to cut back but profits return
Lloyd’s insurer Advent Capital (Holdings) plc revealed a welcome return to profit after the devastations of the 2001 underwriting year.
15 September 2003
AIG $10mn fine sign of regulatory clampdown
The $10mn fine handed to AIG last week was a further sign that US regulators are scrutinising the industry’s penchant for complicated financial instruments.
15 September 2003
GoshawK bolsters management
Two months after its shock profits warning, listed Lloyd's insurer GoshawK has bolstered its management team by recruiting former ACE Tempest chief underwriting officer Russell Brooke to head up its Bermudian arm GoshawK Re.
08 September 2003
Highway disappoints
UK motor insurer Highway Insurance Holdings plc unveiled below expectation 2003 interims last Friday (5 September) which included a dividend of 0.8p and a combined ratio of 99.5 percent.
08 September 2003
Benfield’s solid first interims
Newly floated reinsurance broker Benfield unveiled solid interim results last Wednesday (3 September) with profit before tax and exceptional items increasing from £8.9mn to £28.1mn.
08 September 2003
Aspen IPO makes Altium positive on Wellington
A"medium term" IPO for reinsurance spin-off Aspen Re has inspired London Stockbrokers Altium Capital to upgrade sister company Wellington Insurance Holdings from a hold to a buy recommendation.
08 September 2003
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