Company Example A

Garamendi to file fresh law suits over contingent commissions; investigations widen

California’s insurance commissioner John Garamendi is set to follow NY attorney-general Eliot Spitzer by filing civil complaints this week.

25 October 2004

Atrium forecasts improve

Lloyd’s insurer Atrium announced improvements in its latest syndicate forecast updates last Tuesday (7 December), along with a fall in estimates for losses from the hurricane season.

13 December 2004

Faraday team start new life at Oxygen

Oxygen, the London market intermediary start-up formed this year, (see Insider Week No 142), last week announced the first team to join its Sian Fisher headed agency business.

13 December 2004

Frankel gets reduced sentence on co-operation pledge

Insurance fraudster Martin Frankel was sentenced to a reduced 17 years imprisonment last week after he promised to help the US authorities track down the $200mn he stole from a series of insurance companies.

13 December 2004

Spitzer admits to political ambitions

One of the world’s worst kept secrets finally became public last week when New York attorney general Eliot Spitzer announced plans to run for state governor.

13 December 2004

Heritage raises funds to grow capacity to 50 percent

Heritage Underwriting Agency plc, one of the select band of insurers formed by a Lloyd’s members’ agency, will own 50 percent of its own capacity next year following a successful equity/debt fund raising.

06 December 2004

Illium heads north

Specialist Lloyd’s liability insurer, Illium syndicate 4040 is set to launch a dedicated underwriting operation in the North of England.

06 December 2004

Aon denies complacency

World's second largest broker Aon has made public efforts this month to clear up comments attributed to outgoing CEO Pat Ryan that he was "not fazed" by the Spitzer and other investigations into the industry, and that he was "very comfortable" with the be

01 December 2004

Lloyd's 2005 capacity to fall below £14bn?

Preliminary estimates show 7 percent fall in capacity, as aligned capital hits record levels Early estimates of Lloyd's market capacity for 2005 point to a drop of about 7 percent, as syndicates adjust to the changing cycle, and the Franchise Performa

01 December 2004

Marsh cleans out insiders

The beleaguered broking giant MMC took further steps to improve its corporate governance rating last month by firing five senior executives from its board of directors last week.

01 December 2004

Company Example A

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Miscellaneous

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