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September 2000/1

  • Munich Re Like most other players in the market it's been a lousy year for Munich Re; in fact in 1999 the company suffered its worst year in reinsurance since being founded in 1880. A string of natural disasters have pushed claims to record levels and
  • Apart from in isolated sectors, improving reinsurance rates have yet to make a meaningful impact at a direct level "This is not the end; this is not even the beginning of the end, but merely the end of the beginning," pronounced a defiant Winston Chur
  • For the first time the prospect of people power has emerged at Lloyd’s following the proposed merger of Sedgwick Oakwood with Hampden; and Christie Brockbank Shipton(CBS) with the Amlin Members’ Agency. There are now 17 syndicates trading at Lloyd’s wh
  • Auction 3 of Lloyd’s capacity brought little cheer as prices drop back to auction 1. In the third auction of the season, the amount of capacity traded remained roughly in line with auction two, but the average price fell back to the auction one price
  • On August 14, Reliance Group Holdings announced a second quarter loss of $504.5mn, reducing the company’s reported shareholders’ equity to $455mn (down from $1.03bn at year end). As of June 30, 2000, Reliance Group had $735.1mn of debt, including $237.5mn
  • Scotch mist descends on agents One may expect that among the dwindling breed of Lloyd’s members’ agents a spirit of co-operation and goodwill would triumph over the divisive edge of corporate egos. But not so. Agents’ futures lie in persuading Lloyd’s
  • Struggling reinsurer puts Lime Street at centre of revival strategy European Specialty Group Re Ltd, the Bermudian based, NASDAQ quoted accident and health and medical reinsurer, is looking to Lloyd’s as it attempts to reinvent itself after a successi
  • AHP new treaty division Agnew, Higgins & Pickering, the natural resources Lloyd’s broker created two years ago, is forming a treaty reinsurance division. Simon Samson has been recruited from AHP’s parent company Jardine Lloyd Thompson to head the ne