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December 2004/1

  • Broker Aon has stated the potential impact of a mammoth round of energy litigation currently underway in the Royal Courts of Justice. As reported in the March edition of The Insurance Insider, the case was brought by oil giant BP against Swiss Re, AIG,
  • Lloyd's-backed platform side-lined as broker goes to market with its own connectivity Brokers Aon is set to shake up the London Market IT consensus by launching an alternative to Kinnect, the Lloyd's funded platform designed to allow electronic transf
  • In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • New evidence has come to light of the use of off-balance-sheet transactions by insurance giant AIG. The allegations, published in industry newsletter Inside Bermuda, relate to offshore structures in Barbados and Bermuda used by AIG in the 1980s to circ
  • The removal of Jardine Lloyd Thompson Group's chief executive Steve McGill following a profits warning on 26 November has again focused attention on the broker's US expansion strategy.
  • 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
  • Insurer-backed Willis plays aggressive independence card after winning Fortune Brands account Willis Group, the global insurance broker tipped by many to benefit from the Spitzer fall-out, has been aggressively marketing itself as a non-conflicted alte
  • 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
  • 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.
  • The decision by Marsh Ltd's chief executive Bruce Carnegie-Brown to commission an independent report into its activities proved to be inspired. At an apparent cost of £2mn, Marsh Ltd received "cleared of wrongdoing" headlines in all the UK newspapers read
  • The irascible former England Football manager Terry "El Tel" Venables once described mixed feelings as watching your mother-in-law drive over a cliff in your new car, and it is a sentiment which MMC shareholders might have some empathy. Although there
  • As recently as 19 November, more than 60 percent of Lloyd's brokers by number, and up to 90 percent in terms of 2003 sales, had yet to receive final authorisation from UK regulator the Final Services Authority (FSA) ahead of its takeover of watchdog duti
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