September 2005/3

On 12 September, Insider Week stated that Equitas' insolvency margin had increased. This was incorrect. The opening paragraph of the story should have read: Equitas announced its annual results for the year ended 31 March 2005 last week, revealing...

Lloyd’s has issued an estimate of £1.4bn net loss due to Hurricane Katrina, stating that the London market is in a strong enough position to absorb the loss.

Bermudian (re)insurers have begun to release their estimates of the financial impact of Hurricane Katrina. Meanwhile, following a mandated 12 September deadline to provide loss estimates, Lloyd's vehicles have continued paint a picture of the scale of th

Morgan Stanley analyst William Wilt has advised investors to remain selective as new capital opportunities arise with (re)insurers in the wake of Hurricane Katrina.

Lloyd's has confirmed today (14 September) the resignation of Toby Davies and Iain Saville as CEO and executive chairman of Kinnect respectively.

Equitas announced its annual results for the year ended 31 March 2005 last week, revealing a rise of 2.4 percent in its insolvency margin.

Marsh & McLennan Companies Inc (MMC) announced last Wednesday (7 September) that is to sell Crump Group Inc. wholesale broking business of its Marsh Inc unit to a of J.C. Flowers & Co affiliate.

Reinsurance broker Benfield announced a 10.5 percent drop in pre-tax profits when it revealed its first-half results last Thursday (8 September).

French reinsurer SCOR group received a welcome boost on 9 September when international rating agency Fitch Ratings upgraded its Insurer Financial Strength (IFS) from ‘BBB’ to ‘BBB+’.

Marsh & McLennan Companies Inc (MMC) announced today (9 September) that president and CEO Michael Cherkasky will hand over the reins of broking subsidiary Marsh Inc to Brian M Storms with immediate effect.

Pressure from US regulators over finite reinsurance continues unabated, with the revelation that Joseph Brandon, chief executive of Berkshire Hathaway’s General Reinsurance unit, has received a Wells notice from the US Securities & Exchange Commission...

Clement Booth has joined the management board of Allianz AG where he will be responsible for the UK insurance markets on the board.