International News
News for September 2002
September 30, 2002
- Benfield Blanch To Participate in Program Administrators Target Markets Program
- Hard Market Conditions Can Reward Good Risk Management Says Lloyd's Chairman
- SCOR Plans 400 Million Euro Capital Increase
September 27, 2002
- Zurich Sells Stake in Endurance Specialty
- A.M. Best Affirms SCOR's 'A' (Excellent) Ratings
- Hiscox Criticizes Chubb as Shareholders Approve Rights Issue
- Standard & Poor's Launches New Lloyd's Syndicate Analysis
September 26, 2002
- Court Rejects Generali, Zurich Life Contentions in Holocaust Claims Lawsuit
- European Airlines, Airports Warn of Risks If Govt. Coverage Is Ended
- R&SA, CATEX Launch "efacRe" for Facultative Reinsurance
- Hurricane Update – Isidore, Lili and Kyle
September 25, 2002
- Isidore Turns North, Threatens U.S. Gulf Coast
- Trade Associations Offer IASB Assistance on Contract Disclosure Rules
- Chubb to Vote Against Hiscox Rights Issue
- XL Capital Renames Aerospace Operations
September 24, 2002
- EU, China Plan to End Airline Insurance Next Month
- More Lloyd's Investment, BRIT to Raise £204 Million in Rights Offering
- S&P Stands Pat on SCOR, Gerling Ratings
September 23, 2002
- A.M. Best Affirms Allianz 'A++' (Superior) Ratings, Puts U.S. Subs "Under Review"
- Hurricane Isidore Hits Yucatan, Killing 4, May Move North
- RenRe to Buy Nearly 4 million Shares of Platinum Underwriters
- SCOR Terminates Talks with Gerling
September 20, 2002
- SAI Shareholders Approve La Fondiaria Merger
- AXIS Specialty Elects New Board Members
- Moody's Downgrades Munich Re's Ratings to 'Aa1'
- Trenwick in Deal with Berkshire Hathaway to Increase Syndicate Capacity
- Shake-Up at Credit Suisse, Mühlemann Out, Keilholz New Board Chairman
September 19, 2002
- Bill Bradley to Join Willis Board of Directors
- ACE Q3 Earnings Hit by $90 Million in European Flood Losses
- Agreement Reached on Holocaust Settlement Figures
- A.M. Best Affirms Hiscox 'A-' (Excellent) Rating
- BRIEFLY NOTED:
September 18, 2002
- S&P Keeps Zurich on CreditWatch, Outlook Still Negative
- AEGON Places 350 Million Shares for Sale at €10
September 16, 2002
- Swiss Re to Host NY Conference on ART Market
- Aegon Agrees on Plan to Raise £2 Billion Through Share Sale
September 14, 2002
September 13, 2002
- BRIEFLY NOTED: EQECAT; Skandia; Zurich/Generali; Endurance Specialty
- PartnerRe Updates 1997 Flood Study
- Allianz Will Strengthen Fireman's Fund A&E Reserves by $750 Million
September 12, 2002
- ACE CEO Criticizes Offshore Tax Avoidance Schemes
- SAI Exercises La Fondiaria Option; S&P Lowers Ratings
- £150 Million Preliminary Estimate of Insured Losses in French Floods
- Mendelsohn Out as R&SA CEO
September 11, 2002
September 10, 2002
- AXA Receives Approval to Issue New Shares to Employees
- So. Korea Insurers Estimate Typhoon Claims at $130 Million
- Allied World Names Sr. Underwriter, Asst. VP
- 16 Dead, 18 Missing as Storms Hit Southern France
September 9, 2002
September 6, 2002
- FINEOS to Supply Aviva's Delta Lloyd with Claims Management System
- Inreon Offers Facultative Liability Reinsurance, Demand and Capacity Set to Grow
September 5, 2002
- S&P Lowers Gerling Global Re's Ratings to 'BBB'
- Zurich Posts Huge 1st Half Net Loss, Slightly Over $2 Billion
September 4, 2002
- German Insurers Set Up Terror Risk Vehicle
- AGF 1st Half Net Up Slightly, Despite Fall in Equity Values
- SCOR 1st Half Net Profit Down 58% to €21 Million - In Talks with Gerling
- AIR Releases Terrorism Loss Estimation Model
September 3, 2002
- AXA Confirms 17% Increase in 1st Half Operating Earnings to €1.02 Billion
- Munich Re May Have Less Than $2.55 Billion in WTC Claims
September 2, 2002