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Big Reform Needed If London To Stay Ahead
IT IS going to be far from plain sailing for the London insurance market over the coming years, as it fights off tough competition from rival insurance centres.
Amlin Sees Marine Rates Soften As Insurers' Q1 Risk Loss Estimates Climb
SOFTENING rates have set in for the marine arm of Amlin, as the group revealed it will emerge largely unscathed from an estimated $6bn first quarter surge in event losses.
Levene Tells Corporate America Lloyd's Can Overcome Credit Crunch
LLOYD'S chairman Lord Levene has told US business chiefs that London's strengths as a global financial centre remain undiminished by the credit crunch.
Levene Aims To Enlist Schwarzenegger In Collateral Bid
LLOYD'S is hoping to engage California's governor, Arnold Schwarzenegger (left), in its campaign against reinsurance collateral rules in the US.
Axis Net Profit In First Quarter Increases To Record $238m
THE NEW year started with a bang for Axis Capital as it reported record first-quarter net profit of $238m while many of its competitors saw figures fall.
Aspen Avoids Big Cat Losses In Q1
ASPEN has escaped major catastrophe losses in the first quarter of 2008 despite the unexpectedly high number of single-risk losses.
CNA Financial Q1operating Income Down $86m
US COMMERCIAL insurer CNA Financial was left reeling after lower investment income sent its first-quarter profit crashing 37% to $187m.
US Winter Storms And Credit Crunch Slash 11% Off Travelers' Q1 Earnings
TRAVELERS, the US's second-largest commercial underwriter, has revealed an 11% decline in first-quarter profit on the back of an active winter storm season and the much-publicised credit crunch.
Arch Hit By Higher Q1 Loss Ratio
A HIGHER first-quarter loss ratio in insurance business dented underwriting profit for Arch Capital, despite growth in reinsurance earnings.
PartnerRe Takes 24% Hit
BERMUDIAN reinsurer PartnerRe has announced a 24% fall in 2008 first-quarter earnings to $129m.
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