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  • PA: Lloyd's loses $1bn a year
    Gross results demonstrate sectors dependence on cheap reinsurance, and highlight concerns over expected recovery in the light of continuing stiff competition. Personal Accident: "An insurance policy which, in return for regular premiums, pays a specif
    01 June 2001
  • In the Limelight - Snide casts his caustic eye over the market
    HIH - Spreading the Blame The Australians are not allowing the embarrassing collapse of HIH to go quietly - but then again they are desperately searching for people to blame in what threatens to become the country’s worst corporate collapse with fears
    01 June 2001
  • User-Pays revisted
    User-pays was heavily criticised. Lloyd’s insists that the process has been reformed but Laptop argues there is still much to be done In December 1997 Lloyd's announced the introduction of “User Pays”. One of the aims was to remove “the subsidisation
    01 June 2001
  • AIG Attacks Credit Suisse Over Film Finances Losses
    Insurer’s refusal leads to default on up to $183mn of CSFB Flashpoint bonds, but will the tactic backfire? According to the industry quip, AIG's unofficial motto is “make a claim, and we'll sue you”; a cheap shot at the world's largest insurance compa
    01 June 2001
  • FINPRO team to join First City
    First City, the independent Broker specialising in insurance for financial institutions, will recruit the five strong FinPro team that resigned from Marsh's Financial and Professional Indemnity division (FINPRO) subsidiary last month. The move will contin
    01 May 2001
  • Willis Seeks Place in the Sun
    Willis relocates to Bermuda; proposes a partial offering of its stock in the United States; and Kohlberg, Kravis Roberts announce that they're not quite ready to sell their shares just yet etc.
    01 May 2001
  • In the Limelight - Snide casts his caustic eye over the market
    There’s Always a Way In... Snide was concerned to hear the other day that the evergreen Ken Barrett, the former Zurich underwriter, has found a clever way to keep his book of business together since the collapse of his HIH led consortium. Good for him
    01 May 2001
  • Independent for How Much Longer?
    On 6 March Independent Insurance Company ceo Michael Bright made the following upbeat statement about Independent's 42 percent fall (from £69.8mn in 1999 to £40.1mn for 2000) in anticipated profits:
    01 May 2001
  • Stirling Cooke renames as Atlantic Star
    Stirling Cooke Brown's path towards redemption has taken a further step with the announcement of a re-branding exercise and the appointment of Tony McCallum as the new managing director of the Company's London operations. As a result of the re-branding SC
    01 May 2001
  • Zurich's 'Unicover' Headache
    Proposed spin-off troubled by disputed workers’ compensation carve out losses Zurich Financial Services’ ability to spin-off its reinsurance division will depend upon persuading investors that a series of losses, including ongoing exposures arising fro
    01 May 2001
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