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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
Lloyd’s to reduce levies
2004 costs reduced as 2 percent premium levy ends Capital providers at Lloyd's will see their fees reduced next year as the Society restructured the levies charged on each underwriting member.
08 September 2003
Tryg Vesta leaves London
Nordic insurer Tryg Vesta formally withdrew from the London market last week after announcing that its subsidiary Tryg-Baltica International (UK) Ltd has been placed into run-off.
08 September 2003
S&P: Start-up reinsurers prospering
Despite the industry's difficult operating environment, many of the post 9/11 start up reinsurers are prospering, observed the rating agency Standard & Poor's today (9 September).
08 September 2003
Moody’s: reinsurance outlook negative
Despite favourable conditions in the hard market, the outlook for the reinsurance industry remains negative as reinsurers continue to count the costs of pricing and underwriting strategies in the last soft market, says Moody's.
08 September 2003
US deterioration continues to blight R&SA
Despite unveiling interim results that continue to show improving underwriting performance, Royal & Sun Alliance (R&SA) disappointed analysts and rating agencies last week with news of further deterioration of its US business and a potential £800mn to sho
08 September 2003
Trenwick Lloyd’s rebrands
The albatross that was the "Trenwick" brand name was lifted last week, as the Lloyd's based Trenwick Managing Agency (TMA) announced it was rebranding as Talisman.
08 September 2003
Wellington restores dividend on profits upturn
Lloyd’s insurer Wellington Underwriting restored its dividend to shareholders last week following a sharp rise in interim profits.
01 September 2003
Indemnity costs hover higher for legal eagles
Premiums increases for professional indemnity for solicitors and law firms are beginning to level out over the past year, according to Aon Professional Risks (APR).
01 September 2003
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