September 2004/1

London MGA Hogarth Underwriting has hit back at the FSA over the authority's plans to take it to court for placing business in the UK on behalf of unauthorised insurer CIC. Greek domiciled CIC, which started to target distressed UK liability sectors su

The long-established practice of issuing "Tonners" - policies that can pay out even though there is no insurable interest - was banned by legislation nearly 100 years ago. Now that the Lloyd’s market is more familiar with Alternative Risk Transfer techniq

Japanese insurance giant Mitsui Sumitomo has issued a warning that it has no connection with obscure UK managing agency AP Underwriting Ltd after discovering the company was allegedly offering false Mitsui security. On 26 August, Mitsui announced that

QBE, the second largest Lloyd's insurer with capacity of almost £1bn, has streamlined its London based operations by appointing Limit chief Stephen Burns to become the head of its newly unified European arm.

Lloyd's insurer SVB suffered a 25 percent share price fall as it revealed further deterioration from its US legacy exposures. But the company responded by creating a £103mn plc level reserve fund which, it hopes, will reassure the City of its reserve a

Reinsurance brokers are often wont to compare themselves to investment bankers and, in London this year, they have been performing one of the favoured banking traits of financiers - transferring from one employer to another. In particular, it seems the

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

Devastating S&P downgrade has compounded the troubles for Swiss reinsurer following under-reserving revelations and share price collapse... As the great and the good from the reinsurance industry converge at the annual Monte Carlo Reinsurance Rendez-Vo

The London headquartered outsourcing firm Xchanging has been chosen by Arch Insurance Company (Europe) Ltd to run the company's back office requirements. Xchanging has signed a six-year deal with the firm which, earlier this year, received approval fro

Lower than predicted wind speeds and a benign track appear to have mitigated the loss scenario of Hurricane Frances, the second major hurricane to hit the state of Florida in a month. The hurricane, which had been billed as the most powerful and potent

Interim profits up for Continental giants as recent troubles turned around... SCOR shows further improvement French reinsurer SCOR appears to be making some progress along the path of recovery as it reported improved half-year figures on 26 August and

Specialist Lloyd’s insurer Kiln has announced that it will withdraw from Syndicate 557 under its 2005 business plan, allowing the syndicate to become, in its words, “entirely Names-owned”.