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  • AXA downgraded over difficulties with corporate solutions
    Rating agency A.M. Best Co. has downgraded the financial strength ratings to A (Excellent) from A+ (Superior) of the members of AXA Corporate Solutions (AXACS), France.
    01 June 2002
  • US Senate passes terrorism Bill
    The United States Senate has passed legislation by an 84 to 18 vote that will assist insurers in the event of a catastrophic terrorist attack.
    01 June 2002
  • Insolvent corporate capital costs Lloyd's over £400mn
    The collapse of capital providers such as HIH will cost Lloyd's more than £400mn, the market's latest annual report reveals.
    01 June 2002
  • Is AIG being re-rated?
    While analysts react positively to AIG’s charm offensive, investors are continuing to sell Maurice “Hank” Greenberg has been described, with good reason, as the greatest man in insurance. He didn't form AIG, the world's largest insurance company by mar
    01 June 2002
  • Lloyd's reduces california earthquake exposure
    New Bermudians take up some of the departing capacity as CEA prefers reinsurance over Cat bonds.
    01 June 2002
  • WorldCom borker Marsh gets liability blues
    Marsh, the world's largest insurance broker, has been sensationally dumped by Aetna on placing its own liability cover.
    01 June 2002
  • Lloyd's appoint new Chairman
    Lloyd's have confirmed the appointment of Lord Levene of Portsoken as the long-awaited successor to the chairmanship of Lloyd's.
    01 June 2002
  • Nissan takes $1bn in Fortress Re losses
    Nissan Fire & Marine now estimated its aviation losses in connection with reinsurance contracts written by managing agent Fortress Re now total 128.8bn yen ($1.035bn).
    01 June 2002
  • £140mn PRI start-up boosts London morale
    The morale of the London market - which has come up second best against Bermuda in the post 11 September capital raising stakes - was improved with the announced £139mn AIM float of Professional Risk Insurance Ltd.
    01 June 2002
  • Improving Lloyd's reporting
    The reporting standards of Lloyd’s syndicates need improving if spread capital is to get a full picture of its exposures, claims Laptop Earlier this year the EU Commission surprised observers by demanding the UK government provide information concernin
    01 June 2002
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