• X
  • LinkedIn
  • Email
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Email
  • Free Trial
  • Log in

September 2006/2

  • Lloyd’s this morning announced half-year pre-tax profits of £1.35bn – marginally down on the £1.38bn booked at the same stage last year – as strong underwriting results in benign conditions were offset by a fall in investment income.
  • If Converium can sell-off its discontinued US arm, Converium North America, then it may spark an upgrade by Standard & Poor’s back to the longed-for A- territory.
  • Levene makes tax call for London’s competitiveness; Beazley boosts cat capability with Berkshire Hathaway tie-up; Gibson returns to Highway; LMA launches wordings repository; Fitch affirms Lloyd’s A rating; et al
  • Highfields continues SCOR sidecar dispute; Spitzer drops key Greenberg charges; Fairfax restates; ACE acquires minority stake in Russian Re; AM Best removes Hannover Re from review; Greenlight Re receives Best rating; et al
  • With the limitations of traditional reinsurance pushing cedants to look for other options they must get comfortable with their understanding of the basis risk associated with the alternatives, according to Rolf Tolle...
  • The growing interest in acquiring non-life insurance businesses in run-off was demonstrated by two major sales last month coupled with the emergence of a new corporate investor looking to profit from parent companies keen to offload unwanted subsidiaries.
  • Bookmakers will rarely accept bets once the race has started which explains why – halfway through the Atlantic hurricane season – there have not been any recent US windstorm catastrophe (cat) bonds.
  • Insurance giant Zurich Financial Services (ZFS) reported half-year net profits of $1.96bn, up 9 percent on the first six months of 2005, and ahead of analysts’ consensus of $1.8bn.
  • Reinsurers who fail to meet the challenge of cycle management risk being downgraded, said rating agency Fitch as it released its report on the sector at the beginning of September.
  • Lloyd’s insurers saw half-year profits dented by the impact of foreign exchange adjustments, with the effect on the bottom line partially influenced by the hedging strategy company's employed.
  • Marsh & McLennan and Willis Corp revealed last month that US regulators have eased restrictions on them charging contingent commissions, or Placement Service Agreements, when the broker is acting as agent of the (re)insurance seller, rather than as a repr