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.

According to reports in the US, ousted American International Group (AIG) chief Maurice "Hank" Greenberg's "gift" of almost all of his $2.3bn stock in the company may not be enough to shield his investment from future lawsuits.

Bermudian finite reinsurer Inter-Ocean has become the first corporate casualty of New York attorney general Eliot Spitzer's probe into the use of finite reinsurance with the news that it has ceased writing new business and is now in run-off.

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

Troubled insurance giant American International Group (AIG) is facing a $400mn lawsuit from America's two largest public pension funds as they seek to reclaim money lost as the company's stock plummeted in the wake of accounting revelations, according to

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.

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 -

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.

Ron Carlier, the colourful group chief executive of RK Carvill & Co, has unexpectedly left the reinsurance broker, The Insurance Insider can reveal.

Marsh UK has published details of its new "model" designed to show greater transparency of its revenue structures after it abolished the controversial Placement Service Agreements (PSAs) last year.

A new survey of Lloyd's underwriters suggests that pricing rather regulation comes top of insurance buyers' list of concerns - and that the big issue in 2005 for the industry a whole will be management of the pricing cycle. The survey, which was commis