September 2005/2

Shares decline as H1 profit slump unveiled...

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.

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

Bob Clements' fast growing start-up looks to make London breakthrough with its debut acquisition...

In the aftermath of the terrorist attacks on the World Trade Center, The Insurance Insider’s lead editorial quoted the following exchange from Hemingway’s The Sun Also Rises:

French reinsurer SCOR continued its return to profitability as it announced an 18 percent rise in net income to EUR72mn in its first half results for 2005 at the beginning of the month.

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...

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.

(Re)insurers reluctant to estimate losses in the face of continuing confusion...

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...

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.