April 2004/2

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.

Quoted Lloyd’s insurer Chaucer Holdings has announced an eightfold increase in profits, helped by supercharged premiums on the back of the hard market.

Munich Re is restructuring its struggling primary insurance subsidiary Ergo after it contributed to the reinsurer’s first loss for 98 years.