September 2003/2
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Like its slightly larger German rival Munich Re, Swiss Re has been recently downgraded by S&P. But at least the reinsurer has reported improved half-year results, returning earnings of SFr691mn up from SFr118mn for the first six months of 2002.
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Germany’s Hannover Re announced a largely unchanged set of interim results for the first half of 2003.
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French reinsurer SCOR has booked 18 percent less in gross written premiums in the first half of 2003 compared to the comparable period last year.
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HLF Group is continuing to attract senior new executives and expand overseas despite the recent uncertainties caused by take-over talks with Marsh.
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Lloyd’s insurer Wellington Underwriting restored its dividend to shareholders last week following a sharp rise in interim profits.
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City stockbrokers Collins Stewart has threatened legal action against the Financial Times after the newspaper printed allegations of unsavoury business practices.
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There was increased speculation over the weekend that the UK’s second largest domestic non-life insurer, Royal & Sun Alliance (R&SA), will launch a rights issue later this week.
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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).
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A US Federal Jury has at long last issued an ultimatum to the parties that controversially purchased the assets of Executive Life, the Californian insurer that collapsed in 1991.
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Lloyd’s insurer Omega Underwriting Agents hopes of expansion have hit a stumbling block after seven weeks of negotiations with members’ agents proved inconclusive.
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Illium Insurance Group Ltd, the UK liability start-up headed by former Limit underwriter Denis Burniston and Russell Benzies, the former chief executive of Euler Trade Indemnity plc, is set to begin trading via a new Lloyd’s Syndicate 4040 next year.
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Giant German reinsurer Munich Re has rallied against rating agency Standard & Poor’s (S&P) after being downgraded from AA- to A+ with a stable outlook. In a statement, the world’s largest reinsurer by premium described the move as “unjustified” and founde
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