April 2005/4

RK Carvill acted swiftly to replace the departed Ron Carlier by promoting John Cavanagh and David Thomas as joint chief executives of the reinsurance broker last week.

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

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

World's oldest insurance market Lloyd's announced annual profits for 2004 of £1.36bn, 28 percent down on the £1.89bn it booked in 2003. But in the light of net claims of £1.2bn from the devastating US hurricanes that hit the Caribbean and Florida last

Steve McGill, the former chief executive of Jardine Lloyd Thompson group, has joined Benfield to drive the reinsurance broker's expansion into the primary markets.

With capital raising on track, the challenge for broker start-up is to build traction quickly... The veteran industry financier Bob Clements is close to raising an estimated $200mn-$300mn to form Integro, the start-up broker which plans to provide

In a torturous month for the insurer, we examine the difficulties facing Martin Sullivan As the weeks pass since the departure of the patriarchal Maurice "Hank" Greenberg from the company he built into the world's largest insurer, so the size of the...

Spitzer says Buffett not a target as Greenberg pleads the Fifth. Ousted American International Group (AIG) boss Maurice "Hank" Greenberg was advised to plead the Fifth Amendment as he and Berkshire Hathaway founder Warren Buffett were interviewed by re

Maurice "Hank" Greenberg was effected forced to resign as chairman of American International Group after the New York Attorney General gave an ultimatum to the company, The Insurance Insider understands.

Bermudian reinsurers were "stirred, but not shaken" by 2004's unprecedented hurricane and typhoon season, with return on equity down just 5.8 percent on 2003's figure, according to the latest Bermuda Quarterly report from broker Benfield.

Following in the footsteps of its larger rivals Marsh Inc and Aon Corp, Willis has settled investigations into its business practices by New York attorney general Eliot Spitzer, the State's acting insurance superintendent Howard Mills and Minnesota's atto

Munich Re profit built on primary turnaround World's largest reinsurer Munich Re made a solid start to its 125th anniversary year with the announcement of EUR1.8bn 2004 profit, marking the mid-point of its own projected range of EUR1.7bn to EUR1.9bn -