September 2003/1

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

Rating agency Moody’s believes the current benign trading conditions will see Lloyd’s return a profit of £3.7bn for the 2002 and 2003 years of account. Moody’s has increased its forecast for 2002 to £1.9bn - the equivalent of 14.5 percent of capacity -

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

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,

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

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

Waning market share, slower premium rises and fiercer competition among smaller businesses: all are cited as catalysts for a mooted increase in broker M&A Consolidation among brokers is set to increase, according to new analysis by investment bank Morg

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

AIG backed ruling finds INA liable for Brandywine exposures, ACE to appeal The spectre of asbestos legacy issues hangs over Bermudian-based giant ACE Ltd, with the (re)insurer’s defeat in a landmark case involving Brandywine and ACE INA, inherited with

Laptop looks at Lloyd’s and ILV pension deficits and questions the increasing actuarial control... Actuaries Lane, Clark and Peacock estimate that, out of the 90 companies in the FTSE-100 index, only 13 showed a surplus of assets over liabilities in th

Under-reserved, GoshawK’s Syndicate 102’s future is on a knife-edge... Embattled Lloyd's insurer GoshawK saw its share price tumble for the second time in three months as the company admitted it was under-reserved by an undisclosed amount. Following

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