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Company Example A

Overview
Content
Data

Company type

Insurance-Linked Securities (ILS) and Investment Managers

Miscellaneous

Founded
1896

Major offices

Zurich, CH (headquarters)
Nassau, BS

Officers

Smedley MacGuffin (CEO)

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  • The morale of the London market - which has come up second best against Bermuda in the post 11 September capital raising stakes - was improved with the announced £139mn AIM float of Professional Risk Insurance Ltd.
  • Agreement ends years of dispute over John Charman’s reinsurance programme After a month of proceedings in the High court, lawyers from ACE, Aon and Gordian - the run-off company for Australian reinsurer GIO - have entered into a confidential settlement
  • The market's tale of woe continues with further loss deterioration overshadowing proposed reforms and increasing premium incomes Lloyd's long awaited 1999 results were published last week accompanied by a pro-forma estimate for the first time of the 20
  • The front page of the business section of yesterday's (20 March) New York Times carried the following headline: “Credit Raters to Explain Enron Role.” The rating agencies' explanations took place yesterday before the Senate Governmental Affairs Committee,
  • The Insider's exclusive coverage of the Sphere Drake arbitrage trial continues with the revelation of SCB's supposed win-win scheme for PA LMX reinsurers Stirling Cooke Brown devised an intricate business plan guaranteeing net profits for insurers who
  • Fitch, the ratings agency, has removed Lloyd's from Ratings Watch and has affirmed its financial strength rating as A-. Lloyd's was double downgraded by Fitch on 21 September 2001 from A+ following uncertainties over “Lloyd's poor earnings performance in
  • The cost of buying Errors and Omissions coverage for insurance brokers has spiralled in recent months, due to significant exposures and claims arising in particular from the larger broking houses.
  • A legal dispute between Westfield, owners of the retail area of the World Trade Centre, and Zurich Insurance over supplementary cover has been voluntarily dismissed with both sides agreeing to resolve their differences in a mandatory arbitration hearing.
  • The 11 September terrorist attacks pushed QBE, one of Australia's few surviving international insurance companies, into an A$25mn loss for the 2001 year.
  • Dramatic testimony at the Royal Commission hearing into the collapse of Australian insurance company HIH has exposed the "accounting shortcomings" of HIH surrounding its 1998 acquisition of FAI Insurance.