Reinsurance
RMS issues Dennis damages estimate
Risk Management Solutions (RMS) has announced that insured losses from Hurricane Dennis are likely to be between $1bn and $5bn.
Hardy stresses Omega will have to up offer
Hardy Underwriting has welcolmed the Takeover Panel’s deadline for Omega to make a formal offer for the company.
Omega welcomes Hardy deadline, claims to have shareholder support in principle
Omega has responded to the ‘put up or shut up’ deadline by the Takeover Panel by admitting it is still holding “informative and positive dialogue with Hardy shareholders”.
Regulator tells Omega to 'put up or shut up' over Hardy approach
Lloyd’s insurer Omega has been given just over a fortnight to either ‘put up or shut up’ with regards to its proposed acquisition of larger rival Hardy.
AIR releases first estimate of Dennis damage
AIR Worldwide has announced that it estimates insured losses in the United States from Hurricane Dennis will be between $1bn to $2.5bn.
AM Best rates Alliance Re
AM Best has affirmed the financial strength rating of B++ (Very Good) and assigned an issuer credit rating of “bbb” to Alliance International Reinsurance Public Company (Alliance Re) (Cyprus). The outlook for both ratings is stable.
Phoenix leads London unrest
Shareholder unrest grew in the London market this week, with complaints over boardroom pay and block...
CIAT calls for TRIA action
The Coalition to Insure Against Terrorism (CIAT) has attacked the recent statement by the US Treasury on the state of the terrorism insurance marketplace and the Terrorism Risk Insurance Act of 2002.
Hardy shareholders dismiss Omega's offer as "potentially damaging"
Lloyd’s insurer Hardy has revealed that its shareholders were against a takeover by Omega because it would have resulted in a “potentially damaging period of uncertainty for the company”.
Omega not given up on Hardy deal
Lloyd’s insurer Omega has not given up on a potential merger with larger rival Hardy despite the latter announcing talks between boths parties have terminated.
Atrium planning up to 20% capacity reduction
Lloyd's insurer Atrium is giving its trading update this afternoon, and has confirmed a reduction in capacity for 2006.
US Treasury issues TRIA comments
The US Treasury has released a new report on the Terrorism Risk Insurance Act (TRIA) that does not support its extension beyond the December 31 2005 deadline without significant amendments.
AM Best affirms Mapfre Re ratings
AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of the US-based Mapfre Reinsurance Corporation (Mapfre Reinsurance). Both ratings have a stable outlook.
Winners and Losers: Post Magazine's monthly round-up of job cuts and gains
WINNERS Heath Lambert admits its position prior to closing its pension fund was so precarious that ...
Thatcham gets cash injection
Thatcham's apprentice training programme has been awarded interim Centre of Vocational Excellence st...
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Munich Re releases risk model details
Munich Re has publishes detailed information on its internal risk model, showing that the Group's available financial resources rose by €1.9bn to €22.6bn in the business year 2004.
Connecticut AG confirms finite risk subpoenas
Connecticut’s State Attorney General Richard Blumenthal has said he has issued subpoenas to 18 companies in recent months in a widening investigation into whether a type of insurance was used to manipulate earnings.
Superjumbo bumps up Lloyd's
London Market News
Hardy awaits price hike
London Market News
Lloyd's gets cosy on consolidation
The consolidation of Lloyd's' quoted companies, known as Integrated Lloyd's Vehicles, has long been ...