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.

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.

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 -

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

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

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...

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.

As the revelations into AIG’s past practices continue to mount, David Schiff looks at the insurance giant and the Art of Financial Prestidigitation.

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.

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

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 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.

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

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

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.

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