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  • 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.
  • Lloyd’s insurer Amlin plc has revealed that the 9 months claims ratio is even lower for 2003 than last year – indicating a minimum of two years of strong underwriting returns.
  • 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.
  • Liability start-up Illium announced last Friday a significant capital investment from Barbadian Imagine Group, and confirmed that FSA approval to underwrite through Syndicate 4040 at Lloyd’s had been granted.
  • The California Insurance Commission has confirmed that losses from the California wildfires could exceed $3bn.
  • 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).
  • 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.
  • 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.
  • 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.
  • 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.