September 2003/4

Bermudian reinsurer Partner Re faces “only modest” claims from Hurricane Fabian, the category 3 storm which struck the island on 5 September.

Senator Orrin Hatch has not given up on his asbestos reform proposals and believes the measure may still make it to the Senate floor this year, despite being overshadowed by Iraqi funding, energy policy and Medicare concerns.

Lloyd’s insurer Advent Capital (Holdings) plc revealed a welcome return to profit after the devastations of the 2001 underwriting year.

The $10mn fine handed to AIG last week was a further sign that US regulators are scrutinising the industry’s penchant for complicated financial instruments.