Company Example A

Converium’s CFO steps down

There were more developments at besieged Swiss reinsurer Converium last week with the news that Group CFO Martin A Kauer had handed in his resignation and would be leaving the company early 2005.

08 November 2004

Munich Re cuts back year-end target but posts strong 3Qs

Despite cutting back its full year profit target, the world’s largest reinsurer Munich Re saw its share price rise on the back of strong third quarter earnings.

08 November 2004

Levene warns against complacency

In a speech to the London Institute of Insurance last week, Lloyd’s chairman Lord Levene hammered home the importance of business process reform and sound underwriting as he warned that, despite the progress in turning the corporation around, complacency

08 November 2004

Suffering continues with third quarter results

Following last week’s early-announcers, Bermudian and US (re)insurers are continuing to unveil third quarter figures badly damaged by the quartet of hurricanes hitting the Caribbean and Florida in September and October.

08 November 2004

Taylor dismissed by Marsh

Julian Taylor, the Marsh UK employee suspended for allegedly charging unauthorised commissions, has now been dismissed according to the broker.

08 November 2004

Spitzer aims for disgorgement

Eliot Spitzer gave further indication last week that he is looking for Marsh to disgorge a significant proportion of its Placement Service Agreement revenues as settlement for the civil action filed against the broker on 14 October.

01 November 2004

Brokers count cost of contingent commissions

Companies rarely volunteer to forego a lucrative proportion of their revenue streams but that is exactly what the industry’s international brokers have been doing in the wake of Spitzer’s allegations of price-fixing at Marsh.

01 November 2004

Kiln to stay on Syndicate 557

Lloyd's insurer Kiln has reversed plans to withdraw its full participation on property catastrophe reinsurance Syndicate 557 following negotiations with Members' Agents. The Syndicate, which is de-empting for 2005 by nine percent on its 2004 stamp capa

01 November 2004

Converium's CFO steps down

Besieged Swiss reinsurer Converium revealed on 4 November that Group CFO Martin Kauer had handed in his resignation and would be leaving the company in early 2005.

01 November 2004

Brokers count heavy cost of contingent commissions

Companies rarely volunteer to forego a lucrative proportion of their revenue streams but that is exactly what the industry's international brokers and large US retail brokers have been doing in the wake of Spitzer's allegations of price-fixing at Marsh.

01 November 2004

Company Example A

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