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Hardy improves 2001 profit forecasts
Releases from prior year loss reserves have helped Hardy Underwriting Ltd improve its profit estimates on the 2001 year of its Lloyd’s Syndicate 382.
26 August 2003
Reserving problems at Centre hold back Zurich
Despite recording healthy half yearlies significantly outpacing analysts’ expectations, Zurich Financial Services (ZFS) continues to be clouded by concerns over its loss-making finite reinsurance arm Centre.
26 August 2003
Trenwick International sold to former Lloyd’s debt collector
Litigation Control Group Ltd, the insurance services company formed by ex-Lloyd’s debt collector Philip Holden, has acquired Trenwick Group’s run-off insurer Trenwick International Ltd.
26 August 2003
Insurers lose marathon breast implant case
After an eight-year dispute with claimant Minnesota Mining & Manufacturing (3M), insurers lost a $250mn legal battle over liability associated with silicone gel breast implants.
26 August 2003
Sovereign positive despite Argentinian claims
Sovereign Risk Insurance Ltd, the political risk insurer set up as a joint venture between Bermudian giants ACE Ltd and XL Capital Ltd, revealed net written premiums of $48.6mn (GWP $60.5mn) for the year ending 30 June 2003.
26 August 2003
The Hartford outperforms after rocky Q1
US (re)insurance group The Hartford Financial Services announced last Wednesday that profits for the second quarter increased nearly threefold on the same period last year.
18 August 2003
Partner Re outperforms expectations
Bermudian reinsurer Partner Re has followed a solid first quarter with a stronger second quarter performance, comfortably beating analysts’ expectations.
18 August 2003
Watson leads Trenwick MBO; parent files for chapter 11
The future of Trenwick Managing Agents Ltd was secured last week, after the Lloyd’s insurer’s management agreed a buy-out from its distressed parent, Trenwick Group Ltd.
18 August 2003
New UK fraud figures show alarming increase
In the wake of alleged dubious selling practices from the notorious claims manager The Accident Group, a recent study has concluded that at least a third of all claims against local councils may be fraudulent or exaggerated.
18 August 2003
Inflation remains a threat – The Hartford
In a report last week, Hartford Investment Management Company – a subsidiary of US insurer The Hartford Financial Services Group – counselled against complacency over inflation.
18 August 2003
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