September 2006/1

Lloyd's insurer Kiln updated its syndicate forecasts last week lowering the profit range on three of the four open years on its two major syndicates, 510 and 557.

Two months after Jardine Lloyd Thompson's (JLT) proposed takeover of rival Heath Lambert fell through, analysts have turned their attention to the quoted UK broker's prospects as an independent entity.

Lloyd's insurer Beazley Group plc shrugged off fears of declining liability rates, by saying it had benefited from a 3 percent average rate rises in its casualty book in the first half of the year.

Rating agency Standard & Poor's (S&P) has praised the operations of Equitas, the reinsurance vehicle set up in 1996 to reinsure Lloyd's 1993 and prior year exposures, on its 10th anniversary but also warned about the ongoing threat to the Society.

Willis Corp revealed last week that US regulators have also eased its restrictions on charging contingent commissions, or Placement Service Agreements, when the broker is acting as agent of the (re)insurance seller...

Despite acknowledging the intrinsic value of Marsh & McLennan Inc and the fact that its shares are undervalued, investors lack faith in the company's management, according to investment bank Morgan Stanley.

American International Group (AIG) has confirmed its sidecar Concord Re Ltd will have an initial capital of $730mn with equity funding provided by the US investor Chris Flower's firm JC Flowers & Co LLC.

August saw little let up in the industry's enthusiasm for non-traditional reinsurance vehicles so The Insurance Insider's forthcoming Contingent Capital & Securitisation event is perfectly timed.

Lloyd's insurer Hiscox plc revealed on 1 September that it is close to setting up a Bermudian sidecar operation to reinsure its Lloyd's Syndicate 33.

If 2006 proves - as it has thus far - to be a benign natural catastrophe year, then Amlin's management duo of chief executive Charles Philipps and underwriting director Tony Holt will have again called the right numbers.