December 2004/4

Switzerland got a new reinsurer last week with the launch of Glacier Re, a niche, global specialty reinsurer backed by money from legendary investment guru George Soros.

The chief executive of Aspen Insurance Holdings’ US specialty insurer Aspen Specialty Insurance Company has resigned after admitting he supplied false information about his “educational credentials” in regulatory submissions.

Fast-growing Bermudian post-9/11 start-up Endurance Specialty saw it’s A- Standard & Poor’s ratings outlook updated from stable to positive last week (13 December) on the back of its “strong competitive position, which is supported by a diversified busine

Canadian holding company Fairfax Financial Holdings has announced the closure of its issuance of $300mn of subordinate voting shares (2,406,741 shares) to a number of institutional investors, including Markel Corporation ($100mn) and Southeastern Asset Ma

A recent decision by the US Supreme Court on environmental liabilities could have profound consequences for the insurance industry, analysts at Morgan Stanley have warned.

Nine months into its merged existence, US insurer The St Paul Travelers revealed last week (16 December) that it plans to slash the size of its board from 23 to a proposed 13 members.

With the renewal season in full fling, Marsh’s reinsurance arm Guy Carpenter has committed itself to providing full disclosure to the fees it earns on reinsurance placements.

John Tiner, CEO of UK regulator the Financial Services Authority (FSA) has challenged the London Market to improve contract certainty and to move to a more transparent and efficient business model.