R&SA gets £10m
Royal & SunAlliance is to sell Tyndall Investment Management (Australia) to James Fielding Holdings for around £10m.
D&G shares sold
Prudential and the Prudential Assurance Company have acquired 1.5 million shares of Domestic & General.
L&G buys shares
Legal & General has bought 500,000 more shares in Wellington Underwriting, increasing its stake to 17.5m shares.
Ace back in black
Ace pulled into profit last year with a net operating income of $511m (£315.7m) compared to a $69m (£42.6m) loss the year before.
The company's gross written premiums rose to $12.8bn (£7.9bn) from $10.2bn (£6.3bn) in 2001. Underwriting income stayed negative at a loss of $138m (£85.2m) for 2002 compared to a loss of $645m (£398.7m) in 2001.
Ace put $354m aside as extra reserves against asbestos losses, which made a fourth quarter loss inevitable. Ace reported a net loss of $168m (£103.8m) for the quarter compared to $46m (£28.4m) in the same period the year before.
Ace's investment income increased to $802m (£495.8m) for 2002 from $785m (£485.3m) the year before.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
