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  • CSG reforms update
    Lloyd's chairmen to leave early? With the Lloyd’s chairman taking a month-long honeymoon in New Zealand, there are plans at foot to replace him by the Summer.
    01 March 2002
  • HIH subsidiary's LMX exposures
    As the Royal Commission in Sydney Australia continues to take evidence in to the collapse of the 2nd largest domestic Australian insurance company HIH, The Insurance Insider can reveal that its subsidiary FAI was writing PA LMX business via a quota share
    01 March 2002
  • Wellington Names to be offered shares to "sweeten the pill"
    Wellington plans to offer Lloyd's Names shares in the insurer to persuade them to agree to the formation of a new FSA regulated insurance company.
    01 March 2002
  • Aon's clients hit by laddering litigation
    Over 100 of Aon clients face laddering suits that could hit directors and officers and financial institutions insurers Aon’s enthusiasm for US financial institutions cover in the late nineties is reflected by their clients exposure to the morass of lad
    01 March 2002
  • Markel's International's downgrade
    Markel International was downgraded by rating agency Fitch after its parent posted a $70mn charge. Fitch Ratings commented, "Markel International's operating performance and capitalization do not support the current ratings." The agency subsequently lower
    01 March 2002
  • MRM assisted by $100m sell-off
    Embattled programme and captive manager Mutual Risk Management Ltd has raised $100mn in its fight for survival. The Bermuda based company's share price has collapsed from $5.42 to stand at 96 cents (7 March) after first delaying its 2001 results "to compl
    01 March 2002
  • AIG: American National a "disgrace"
    AIG has lashed out at one of its reinsurers in a strongly worded complaint filed in the US District Court of the Southern District of New York.
    01 March 2002
  • Canada Life takes knock on A&H exposures
    Canada Life, one of the leading Canadian life insurers, has taken a provision of $70mn, net of tax, related to expected claims arising from the September 11 terror attacks. The company's gross exposure to Sept. 11 claims are estimated at $606mn. This prov
    01 March 2002
  • Zurich and Westfield go to mandatory arbitration
    A legal dispute between Westfield, owners of the retail area of the World Trade Centre, and Zurich Insurance over supplementary cover has been voluntarily dismissed with both sides agreeing to resolve their differences in a mandatory arbitration hearing.
    01 March 2002
  • Deteriorating Lloyd's results spark downgrade fears
    Pessimism mounts with further deterioration on back years and rumours that Lloyd's big guns plan to exit market Some of Lloyd's largest capital providers are planning to leave the market after losing patience with the perceived underwriting indisciplin
    01 March 2002
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