Lloyd's 2002 profit
Moody's forecast Lloyd's will make a total profit of £3bn in 2002 and 2003. This is against predicted total losses of £4.5bn for 2000 and 2001.
The ratings agency has forecast Lloyd's will make profits of £1.6bn and £1.4bn in 2002 and 2003 respectively.
Loss improvement
Claims People Group's pretax losses were £304,032 for the year ending 31 December 2002 against £934,186 in the previous year.
Wellington name
Wellington Re has changed its name to Aspen Insurance UK Ltd, trading in the London market as Aspen Re and Aspen Insurance.
Ascot best rating
Ascot Underwriting, the Lloyd's managing agency backed by AIG, was given an A+ (Superior) rating for its Syndicate 1414 by AM Best. It is the only syndicate to receive such a high rating from AM Best.
Hardy 7% profit
Hardy's Syndicate 382 made a profit equivalent to 7% of its capacity of £50.3m in the 2000 year of account, the company reported.
The result was at the upper end of forecasts, having previously been expected in the range of 2.5% to 7.5% of capacity.
Hardy also issued an unchanged forecast for the syndicate's performance in 2001, putting its result between 6.5% and 11.5% of its capacity.
US insurer for UK
US insurance holding company WR Berkley Corporation plans to launch a London-based operation specialising in domestic UK casualty business. The insurer will start work in the third quarter.
