September 2005/3
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Lloyd's has confirmed today (14 September) the resignation of Toby Davies and Iain Saville as CEO and executive chairman of Kinnect respectively.
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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.
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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.
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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...
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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
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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.
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Reinsurance broker Benfield announced a 10.5 percent drop in pre-tax profits when it revealed its first-half results last Thursday (8 September).
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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+’.
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Clement Booth has joined the management board of Allianz AG where he will be responsible for the UK insurance markets on the board.
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Swiss insurer Zurich Financial Services (ZFS) has released its preliminary estimates of losses resulting from the recent flooding in Switzerland, southern Germany and Austria.
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On the eve of the key Monte Carlo reinsurance Rendez-Vous event, Standard & Poor’s (S&P) again downgraded a troubled reinsurer below its pivotal ‘A-’ rating.
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As Monte Carlo gets underway, a consensus is beginning to emerge that Hurricane Katrina is an industry changing event, with profound implications for balance sheets, rates and capitalization.
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