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September 2004/1

  • Agency issues wake-up call and raises fears of a looming liquidity crisis... Questions have again been raised over the liquidity of Fairfax Holdings after ratings agency Fitch placed the Canadian financial services holding company on a negative rating
  • 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”.
  • 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
  • Snide was amazed that allegations of anti-semitism were recently levelled at the Bunteresque Conservative MP Nicholas Soames. The grandson of Churchill is known for his politically incorrect gaffes, but was quick to deny there was anything sinister in the
  • 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
  • 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
  • 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.
  • Despite sluggish share prices, Lloyd’s quoted insurers are unveiling impressive interims... Amlin's strong posting kicks off Lloyd's reporting season Amlin began the Lloyd’s results season by posting exceptionally impressive results - including a 17.2
  • 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
  • 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
  • US reinsurance exposures remain a potent threat after 2Q activity As the global reinsurance industry convenes at the annual Monte Carlo Rendez-Vous de Septembre they will be unable to avoid a depressing reality - under-reserving of US reinsurance busin
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.