April 2004/1

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

Despite the recent change of ownership, run-off specialists Cavell Management Services Ltd will continue to focus on their growing annual commutations events. Alan Quilter, Director of Cavell, told The Insurance Insider: “Bringing finality to books of

Ex-Faraday CEO Nigel Barton and former Xchanging In-sure Services MD John Benjamin have announced the formation of a new brokerage for the London market. The new company, named Oxygen, will place specialty risks such as yacht cover, employers' liabilit

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

Buffeted by a draconian restructuring programme and the departure of senior executives, UK broker Heath Lambert had some good news last month - in the shape of a number of new appointments and promotions to its regional and head offices. On 9 March Hea

Radical proposals designed to boost regulatory capital and improve financial strength ratings Lloyd's is planning to treble the size of the Central Fund to £2bn in an innovative scheme which involves a compulsory three-year rolling loan from all of its

WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building's insurance cover. This phase of the trial, which began on 9 February,

David Schiff looks at legal reform... You've heard it before. The legal system is out of control. The plaintiff's bar is ruining America. If we don't get legal reform, terrible things will happen: businesses will go bust or go elsewhere; jobs will be l

Allianz back in profit but fails to convince A turnaround from 2002's record EUR1.2bn loss to a healthy net profit of EUR1.6bn for 2003 failed to convince the markets as German insurer Allianz admitted it still had some way to go in the struggle to rever

US life insurer Lincoln National reduced its exposures to workers' compensation carve-out losses written by Sun Life and Phoenix after successfully appealing part of an arbitration decision that ruled it was exposed to losses emanating from the notorious

2003 preliminary results reflect excellent underwriting conditions Amlin posts 83% combined ratio Amlin announced a combined ratio of 83 percent (against 95 percent in 2002) and a 31 percent increase in gross written premium to £937.4mn for its 2003 y

New run-off appointment, but 2001 loss uncertainty leaves 20 syndicates open Lloyd's is understood to be attempting to address the issue of run-off for open year accounts with the appointment of Stephen McCann as head of run-off for the Lloyd's market.