September 2003/1

XL Capital’s ELU transfers prime treaty account to rival Benfield Reinsurance brokers RK Carvill is in dispute with a division of XL Capital after the Bermudian insurance giant transferred its prime directors and officers reinsurance treaty to rival in

New entrant with an interesting past offers EL insurance to the London Market... After the demise of the likes of Independent and The Underwriter, it was inevitable that soaring professional indemnity rates would attract new players into a market where

With the majority of interims published, Lloyd’s insurers are prospering as they unveil “market leading” combined ratios. Despite stiff competition, the current winner is Kiln Amlin: beats consensus with strong interims The second largest quoted Llo

Crédit Lyonnais has announced that it has reached agreement with the United States Attorney's Office to settle a long running investigation into the French bank's 1991 acquisition of Los Angeles-based Executive Life Insurance Company. In a statement po

Against the backdrop of US tort reform, some US insurers are lobbying to increase Equitas' burden of asbestos claims, warned Equitas’ new chief executive Scott Moser this month. Speaking at Equitas' annual meeting on 12 September, Moser applauded the

Lowered LSAs reflect poor performance and pipeline losses In the second yearly review of its Lloyds Syndicates Assessments (LSAs), rating agency Standard & Poor's has lowered its assessments on 10 syndicates and raised two, reflecting on the “poor oper

The expansion of Omega Underwriting Agents from a small Lloyd's managing agency into an insurance group that could even consider an IPO remains on a knife-edge. Omega has submitted to Lloyd's and had initial approval for plans which would see the Agenc

The $10mn fine handed to AIG this month (11 September) was a further sign that US regulators are scrutinising the industry's penchant for complicated financial instruments. The world's most valuable insurance company agreed to settle an investigation b

A new $550mn capitalised (re)insurer is set to be launched later this year with backing from US private equity houses and management shipped in from Swiss Re, The Insider can reveal. Bermudian based Quanta Capital Holdings Ltd will provide fresh (re)i

Lloyd's insurer Advent Capital (Holdings) plc revealed a welcome return to profit after the devastations of the 2001 underwriting year. The former BF Caudle agency is forecasting a strong profit of 25 percent on the 2002 year of its Syndicate 780, but

Lloyd’s specialist insurer Hardy Underwriting Group announced on Monday 22 September that it will begin underwriting financial institutions for the 2004 year of account. The account, which will be accommodated within the 2004 stamp capacity of £115mn,

Lloyd's insurer Brit is considering legal action against rival Abacus Syndicates Management over the recruitment of former PRI Ltd staff, the liability insurer acquired by Brit earlier this year for around £173mn. As first revealed in issue 81 of The I