Company Example A

Fairfax ‘overstates’ Watsa ownership in SEC filings

Q3 results ‘raise more questions than answers’, according to analyst More questions have been raised about the accuracy of financial reporting at Canadian holding company Fairfax.

08 November 2004

Bush victory opens door to TRIA extension and Tort reform

Analysts and lobbyists hail election result The re-election of George Bush in last week’s presidential elections will give added impetus to efforts to extend the Terrorism Risk Insurance Act (TRIA) in 2005, according to Charles Landgraf, a leading lob

08 November 2004

Marsh moves to collect $230mn in contingent commissions

Despite being characterised by Eliot Spitzer as a practice that “rigs bids, stifles competition and cheats customers,” Marsh confirmed last week that it is moving to collect up to $230mn in contingent commissions which it says it is owed by insurers.

08 November 2004

Spitzer sackings continue – ACE and Marsh commit to new standards

While MMC’s Jeffrey Greenberg and his Marsh Inc colleague Ray Groves were the first two casualties of Spitzer’s assault on practices in the P&C industry, they were followed last week by a wave of sackings among the companies implicated in the attorney gen

08 November 2004

Sigma study maps rising cost of liability

Liability claims costs the world-over are on the rise, according to the latest Sigma report from Swiss Re.

01 November 2004

Chaucer’s S&P fillip

Rating agency Standard & Poor's has raised its Lloyd's Syndicate Assessment (LSA) on Chaucer Syndicate 1084 to '3' from '3-'.

01 November 2004

BMS bolsters marine reinsurance arm

Independent broker BMS International Intermediaries Ltd revealed last month that it had bolstered their marine reinsurance operations with the capture of a four-strong team from Arthur J Gallagher UK Ltd.

01 November 2004

Softening rates force mid-market broker consolidation

Faced by a softening product market, US retail brokers are increasingly turning to aggressive acquisition strategies to achieve revenue and profit goals, according to the latest report from investment banking firm WFG Capital Advisors.

01 November 2004

Olympus rating affirmed

Rating agency AM Best has affirmed the “A-” (Excellent) financial strength rating of Olympus Re, and removed the rating from under review. In addition it assigned an issuer credit rating of "a-" to the (re)insurer, assigning both ratings a stable outlook.

01 November 2004

ISO releases Jeanne update

Hurricane Jeanne, the final major hurricane of the 2004 season to hit the State of Florida is expected to cost property/casualty insurers in the region of $3.245bn, according to the latest estimate from ISO’s Property Claim Services (PCS) unit.

01 November 2004

Company Example A

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Miscellaneous

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