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April 2002/1

  • Despite a disturbing lack of debate, Lloyd's involvement in the Cox rescue package is a victory for common sense and pragmatism, says The Insider Despite setting an extraordinary precedent, Lloyd's ring-fencing of loss-struck insurer Cox Insurance is r
  • Wintherthur International America Insurance Co, a subsidiary of XL Capital, has filed a suit against aviation parts manufacturer Goodrich Corp after it claimed for lost revenues due to the 11 September attacks.
  • St Paul, one of the giant corporate capital providers to Lloyd's thought to be cooling about its involvement in the market, will not renew its reinsurance of the Central Fund when the policy expires next year.
  • Fitch, the ratings agency, has removed Lloyd's from Ratings Watch and has affirmed its financial strength rating as A-. Lloyd's was double downgraded by Fitch on 21 September 2001 from A+ following uncertainties over “Lloyd's poor earnings performance in
  • An arbitration panel has ruled in favour of Realm National, Stirling Cooke Brown's C++ rated property and casualty reinsurer, in its dispute with John Hancock over a workers' compensation carve out reinsurance.
  • The cost of buying Errors and Omissions coverage for insurance brokers has spiralled in recent months, due to significant exposures and claims arising in particular from the larger broking houses.
  • One of the few remaining independent Lloyd’s insurers plans to raise private equity capital in expansion drive The largest independent Lloyd’s agency Beazley is planning to raise capital from a consortium of private equity firms as part of a fund raisi
  • Flaky Insurer in London It appears to be de riguer these days for the respectable managing general agency/reinsurance company to have a Belgian on board. In fact, Aim Underwriting Ltd, a London based mga, has three.
  • Canada Life has issued a claim for relief and damages against French reinsurer Caisse Centrale de Reassurance (CCR) alleging that CCR has reneged “on four quota share agreements with Canada Life” and is therefore “irresponsibly and in bad faith underminin
  • The Insider's exclusive coverage of the Sphere Drake arbitrage trial continues with the revelation of SCB's supposed win-win scheme for PA LMX reinsurers Stirling Cooke Brown devised an intricate business plan guaranteeing net profits for insurers who
  • Enron's new directors will be able to purchase directors and officers insurance, after the US bankruptcy court gave permission for funds to be released to pay the premium earlier this month.
  • US insurer John Hancock has filed a class-action complaint against 27 Enron directors and officers and auditor Arthur Andersen in a Houston Federal Court.