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September 2005/2

  • In our regular monthly International News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Lloyd’s insurer Amlin plc is planning to start a Bermudian (re)insurer next year, The Insurance Insider can reveal.
  • Shares decline as H1 profit slump unveiled...
  • The plane crash in Indonesia earlier this month, was the sixth aviation accident since the beginning of August. Six crashes in as many weeks may appear freakishly high frequency but industry experts are remaining calm as the figures balance out in the...
  • The Association of Run-Off Companies (ARC) and KPMG published their latest annual survey into the UK non-life insurance run-off sector earlier this month revealing a fall in total liabilities, driven by Equitas’ continued successes in shedding...
  • Supporters of UK solvent schemes of arrangement were encouraged by a Scottish Court’s decision to sanction the M&G Re scheme earlier this month.
  • In a surprise move, reinsurance giant Swiss Re announced on 25 August that Jacques Aigrain will succeed John Coomber as its chief executive.
  • Sector set for more woe; OIL mutual facing downgrade threat
  • (Re)insurers reluctant to estimate losses in the face of continuing confusion...
  • The head of General Electric’s (re)insurance arm confirmed last month that the giant conglomerate will probably sell or spin-off all its underwriting units in due course.
  • Pat Ryan, the founding chairman of broking giant Aon Corp, last month announced plans to sell five million shares in the company, equivalent to some $146mn, last month.
  • Rod Fox, the former chief executive of Benfield’s US arm, has returned to the broker to help develop its new Benfield Corporate Risks division.