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  • 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
  • AXA criticised in film finance dispute
    The long awaited judgement in the AXA/George Litto film finance case was handed down last month and, as the insurer feared, the presiding Judge has shown himself almost contemptuous of the insurer's arguments. AXA alleged that its former employee Jean Mic
    01 June 2002
  • E&O insurers get tough with HLF
    Soon-to-be floated broker admits errors and omissions exposures are “unsustainable” after its insurers demand a leap in rates and conditions Investors in HLF, which is due to float on the London Stock Exchange this summer, will be backing a company tha
    01 June 2002
  • CIGNA gets an attack of the VADBEs
    The health insurer has washed its hands of reinsurance, but its exposures to variable annuity death benefits or VADBE's remain a concern
    01 June 2002
  • Willis facing WTC backlash
    Joe Plumeri’s arrival has coincided with the return of prosperous times. But the broker’s role in placing the WTC lineslip is an unwelcome cloud on the horizon In May Willis' majority owner, the US private equity firm KKR, took advantage of the broker
    01 June 2002
  • ACE and Aon settle Australian reinsurance dispute
    Agreement ends years of dispute over John Charman’s reinsurance programme After a month of proceedings in the High court, lawyers from ACE, Aon and Gordian - the run-off company for Australian reinsurer GIO - have entered into a confidential settlement
    01 June 2002
  • Amlin plans to buy out 2001 Names
    Amlin, the largest independent Lloyd’s insurer, has announced plans to raise £80mn from a rights issue to fund a buy-out offer to Names on its flagship Syndicate 2001.
    01 June 2002
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