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Asbestos reform passes first test of trust
The drive for meaningful asbestos reform in the US took a big step forward last Thursday as the Senate Judiciary Committee marginally voted in favour of Senator Orrin Hatch’s Fairness in Asbestos Resolution Act.
14 July 2003
Time runs out as The Underwriter goes into run-off after less than four years
Troubled UK liability insurer The Underwriter has announced that it has gone into “solvent run-off” and, as of last Friday (11 July), will no longer write new business. The decision comes as a result of an FSA review into the company’s parlous capital sit
14 July 2003
Montpelier to raise $200mn
Bermudian (re)insurer Montpelier Re filed last Thursday with the Securities and Exchange Commission to sell $200mn in senior notes.
14 July 2003
Munich Re takes Chinese bow
Giant German Munich Re has become the first international reinsurer to receive a nationwide composite operating license in China as penetration into the tightly controlled domestic market gathers pace.
14 July 2003
Best downgrades GoshawK Syndicate
In the wake of GoshawK’s 3 July mea culpa profits warning, the rating agency AM Best have downgraded the Lloyd’s insurer’s Syndicate 102 from A (excellent) to A- (excellent).
14 July 2003
General insurers less pessimistic says CBI/PWC survey
General insurers are less pessimistic than they were in the first three months of 2003, according to today’s latest quarterly financial services survey by the CBI and PricewaterhouseCoopers (PWC).
07 July 2003
Axco upbeat on London Market
Insurance information service provider Axco has offered an upbeat assessment in its inaugural report on the London Market.
07 July 2003
Markel Intl receives AM Best boost
Markel International, the London based arm of US insurer Markel Corporation, received a boost last week from rating agency AM Best when its financial strength rating was upgraded to A-.
07 July 2003
Montpelier maintains momentum with $450mn funding
Bermudian post 9/11 start-up Montpelier Re has tied up a $450mn funding arrangement to support its letter of credit needs.
07 July 2003
Blow for airline passengers as DVT ruling upheld
Victims of deep vein thrombosis (DVT) lost a landmark appeal last Thursday as a December 2002 High Court ruling was upheld, preventing claimants from suing airlines for compensation.
07 July 2003
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