September 2004/2

Lloyd’s insurer SVB saw its share price fall by 25 percent last week as it revealed further deterioration from its run-off US legacy exposures.

On the eve of the Lloyd’s insurers’ interim financial results, a leading insurance analyst has reminded investors that there is still merit in investing in the stocks for both capital gains and income.

The investigation by New York attorney general Eliot Spitzer into the use of Placement Service Agreements (PSAs) shows no sign of coming to an end, with the latest development being a subpoena issued against Bermuda based AXIS Capital Holdings Limited on

Lloyd’s vehicle Amlin revealed healthy results for the first half of the year in its latest interims. Among the highlights was a 17.2 percent increase in pre-tax profits to £74.2mn; a 10-point combined ratio improvement to just 73 percent and gross premiu

The Barbados headquartered reinsurer Imagine Group has increased its capital base to over $500mn with a $100mn private placement to institutional investors.

An attempt to overhaul the US’ state-by-state based insurance regulation is gaining pace with the publication of a discussion draft of an Act which will give insurers far more freedom to set their own rates.

Bermuda’s (re)insurers continued to build their balance sheets in the second quarter on the back of another strong earnings period.

Bermudian (re)insurer has announced its intention to enter aviation insurance from 2005.

Ratings agencies wasted little time in responding to last Tuesday’s (31 August) announcement by Converium of further reserving deficiencies following an independent actuarial review, casting a further shadow over the troubled reinsurer as it heads into th

Florida’s second major hurricane of the season, Hurricane Frances, caused less damage than predicted over the weekend after it weakened to a category 2 storm prior to making landfall 30 miles north of West Palm Beach near the town of Stuart at around 1am

John Charman, the former Lloyd’s deputy chairman and founding president of fast expanding Bermudian (re)insurer AXIS Capital, has praised the UK outsourcing firm Xchanging after agreeing a five year deal to manage AXIS’ back office functions in the United

The reinsurance intermediary Benfield Group is set to reverse the trend of staff departures by revealing that it has recruited a four strong, London based international casualty team from rival Aon Re.