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Equitas boosts asbestos reserves by £400mn
Total payouts fall, but shrinking surplus and deteriorating solvency margin as balance sheet weakens
16 June 2003
Endurance enjoys another endorsement
Endurance received its second ratings endorsement in as many weeks last Thursday, as the Bermudian (re)insurer was granted an A- rating from Standard & Poor’s.
09 June 2003
Fitch assigns A+ for QBE
The rating agency Fitch is bullish on the Australian insurer QBE insurance Group’s prospects as it assigned an A+ long term rating, outlook stable.
09 June 2003
Members’ agents cold on proposed Chaucer merger
Lloyd’s (re)insurer Chaucer’s plans to merge its syndicates 587, 1084 and 1096 into one have met with a mixed reception.
09 June 2003
Trust fund flounders on Senate floor
Divided House likely to call time on Hatch plans as “best opportunity in a decade” slips away
09 June 2003
PartnerRe dividend keeps on rising
Bermuda’s PartnerRe announced it was increasing its dividend to shareholders last week. The reinsurer has increased dividend payments every year since it was founded in 1983.
09 June 2003
Weather forecast good
Despite recent warnings from some quarters over the wisdom of dabbling in credit derivatives, a report last week indicated a trebling of transactions for another area of risk transfer – weather derivatives.
09 June 2003
Cathedral inspired by AM Best rating
Catastrophe specialist Cathedral Underwriting Ltd received an inaugural Best syndicate rating of A- (Excellent) last week as the rating agency paid tribute to the Lloyd’s insurer’s “excellent prospective operating performance and business profile.”
09 June 2003
Lloyd’s bolsters franchise with Pinchin appointment
Lloyd’s have appointed barrister Jeremy Pinchin to the new post of Head, Reinsurance and Claims reporting to the Franchise Performance Director, Rolf Tolle.
09 June 2003
Royal restructuring on track with RSUI sale
UK insurer Royal & Sun Alliance (R&SA) announced today the sale of its US surplus lines unit, RSUI, for £72mn cash to Alleghany Insurance.
09 June 2003
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