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  • Sirius - to be spun-off?
    The future of (re)insurer Sirius International is uncertain after its parent revealed its 2002 earnings will be less than expected.
    01 November 2002
  • SCOR's Blondeau falls on sword
    SCOR’s longstanding chairman and ceo Jacques Blondeau has paid the price for the reinsurer’s miserable results and rating downgrades by resigning from the group. Last month SCOR, the world’s 8th largest reinsurer, issued a profits warning and predicted
    01 November 2002
  • Near North consolidates Aon allegations
    The feud between Aon and its Chicago rival Near North Insurance Brokerage reached a new intensity last month when Near North consolidated its allegations against Aon and some of its employers for civil conspiracy, cyber crimes and breaches of trade secret
    01 November 2002
  • London withdraws further from US D&O
    London's rapid retreat from US Directors’ & Officers’ coverage has begun to look like total capitulation after the withdrawal of Faraday and the departure of a leading AIG underwriter within days of each other.
    01 November 2002
  • Barton still committed to reforms
    A Serb and two Germans reflect the international flavour of Faraday's senior management, after the departure of the group's former chief executive Nigel Barton last month.
    01 November 2002
  • Lloyd's broker rejects Aon bid
    Newman, Martin & Buchan Ltd, the Lloyd's energy reinsurance broker, has rejected a surprise takeover bid from Aon. According to market sources, NMB's chairman and cofounder Gordan Newman flew to Aon's Chicago headquarters recently to meet with Pat Ryan, t
    01 November 2002
  • Central Fund exposed to giant Aon energy claim
    Losses from the collapsed Aon 77 energy lineslip to be contested in the High Court with the Central Fund and Aon’s E&O insurers exposed to outcome Lloyd's Central Fund may be forced to pick up the losses from Aon's collapsed energy lineslip regardless
    01 November 2002
  • Unicover strikes back
    CIGNA & Lincoln National take charges after arbitration ruling hits pool members The long awaited outcome of the arbitration between Unicover pool participants and their retrocessionaires ended on the 9 October 2002 with a settlement in favour of the
    01 November 2002
  • Aon raises $1bn to restructure debt
    Aon reports impressive 18 percent organic growth but cuts dividend, cancels Combined spin-off and reveals $500mn pension short-fall Aon's recent predilection for the dramatic continued last week when it revealed better than expected third quarter resu
    01 November 2002
  • Beazley goes public to fund expansion change
    The Lloyd's insurer plans to raise £150mn when it goes public on the 12 November Beazley, the Lloyd's insurer, has abandoned plans to form a Bermudian operation when the company goes public next week in a £150mn issue.
    01 November 2002
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