News
Moody’s downgrades Kiln syndicate 557
Moody's has downgraded the ‘A’ (very good) performance rating of Lloyd’s syndicate 557, owned by R J Kiln & Co, to ‘A-’ (good)
Aviva group sees net income slip 28%
Aviva has recorded a fall in net income of 28% in the first six months of 2004 as a result of a fall in investment income. However, operatoing profit increased on the back of earnings from its general insurance business.
Aspen reports Q2 growth
Aspen Insurance Holdings has reported net income of $80.9m for the three months ended 30 June 2004, bring the company to net income of $165.9m for the first half of 2004.
NU sees 19% growth in net written premiums
In the UK Norwich Union has recorded a 7% increase in net written premiums to £2.7bn and a 19% growth in net written premiums from its direct operation to £434m in the first six months of the year. The company said that better than expected weather…
Aviva's worldwide GI business sees improved operating ratio
Aviva’s worldwide general insurance operations had an excellent start to 2004, according to chief executive officer Richard Harvey, with total operating profit of £613m (2003: £387m) and a combined operating ratio of 97% (2003: 101%) across the group.
New brokers join John B. Collins
Reinsurance intermediary John B. Collins Associates has announced the addition of four property casualty reinsurance brokers to its Minneapolis office.
S&P issues ratings for Arch Capital
Standard & Poor's Ratings Services (S&P) has assigned its preliminary 'BBB-' senior debt, 'BB+' subordinated debt, and 'BB' preferred stock ratings to Arch Capital’s recently filed $650m universal shelf.
Fitch switches to stable outlook on Generali
Fitch Ratings has changed Assicurazioni Generali SpA's ("Generali") outlook from negative to stable. At the same time, it has affirmed Generali's insurer financial strength (IFS) and the long-term ratings at 'AA' and 'AA-', respectively.
Quanta Capital posts Q2 profit
Bermuda-based Quanta Capital Holdings has reported that its net income for the second quarter of 2004 was $1.8m, the first quarter that the company has reported a profit since it was founded in May 2003.
IIB urges brokers not to sign RSA TOBA
The Institute of Insurance Brokers has now officially recommended that brokers do not sign the Royal & Sun Alliance Terms of Business Agreement as currently issued .
Max Re Capital publishes Q2 figures
Max Re Capital has reported net income for the three months ended June 30, 2004 of $12.6m, down on the $30.8 million it made on the three months ended June 30, 2003.
RBSI reports improved ratio for first six months of 2004
Royal Bank of Scotland Insurance today reported total income was up 89% or £1.1bn to £2.4bn for the first six months of 2004, following the acquisition of Churchill. However, excluding Churchill, RBSI said total income grew by 17%.
Chambers replaces Miller at RSA
Royal & Sun Alliance has appointed Mark Chambers as general counsel and group company secretary with effect from October this year.
Minton joins Max Re Capital directors
Max Re Capital has announced the appointment of Peter Minton to its board of directors.
Folgate acquires new central hub
The Folgate Partnership has acquired Adams Tingle (Insurances) based in Kettering, Northamptonshire. The business is the Folgate’s thirty sixth acquisition, and brings the total premium controlled by Folgate to £505m.
BMA publishes final captive rulebook
The Bahrain Monetary Agency (BMA) has published the final draft version of its Rulebook Module for captive insurers.
S&P report looks at Q2 credit rating situation
The negative bias of rated financial and nonfinancial companies in Europe continues to decline, suggesting continued credit quality moderation, according to a new report from Standard & Poor's Ratings Services (S&P).
Trio bolster Aon's sports division
Aon has announced three new appointments to accelerate its growing presence in sports insurance.
UKI Partnerships in Lloyds TSB motor insurance deal
UKI Partnerships will be the principle provider of motor insurance for Lloyds TSB General Insurance for the next three years.
JLT appoints new Latin America COO
Jardine Lloyd Thompson (JLT) Group has announced the appointment of Margo Black as chief operating officer of JLT Latin America.
Broker Network swoops for member
The network organization for independent community insurance brokers, Broker Network Holdings, has today announced the acquisition of Mid–Pennine Insurance Services.
Appointment at Atlantic Benefit Services
Atlantic Benefit Services, part of The Atlantic Insurance Group has hired Michael J. Rodgers, Jr. as...
Appointment at Marsh
Marsh has promoted John Nicholson to the newly created position of managing director of UK regional ...
IIS survey shows market optimism
A new survey of international insurance executives carried out by the International Insurance Societ...