December 2005/2

AIG restates again after $500mn discovery ; Quanta woes continue ; Hannover profits blown out by storms ; French riots cost AXA EUR50mn ; Ex-HIH finance chief faces criminal charges ; Loss record broken, says ISO ; Segal sentenced to ten years et al...

Despite the perception that hedge funds currently possess an unalloyed enthusiasm for all things reinsurance, the sponsors of the new sidecar arrangements are not being overwhelmed with interest from the cash-rich funds. These so-called sidecars are...

Lloyd’s heavyweights chose November to hint at a three-year plan which the Society will look to implement from next year. In a lecture, Chairman Lord Levene talked of the tasks ahead and said: “Nick [Prettejohn, Lloyd’s retiring CEO] and his team...

Lloyd’s to pioneer Islamic (re)insurance ; Beazley forms new £200mn Syndicate ; Alea winds down London arm ; Brit commits to dividend and raises £150mn in debt issue ; Lloyd’s and Willis get Chinese approval ; Agnew Higgins wins International et al...

Creditors of KWELM are set to receive payments of $770mn this month, as the average payout from the run-offs rises to 88.7 percent.

There were further developments at failed (re)insurer GoshawK last month as the London Stock Exchange-listed company continued to restructure to run-off, with a number of management changes, the announcement of a possible rights issue...

One of the largest, and most complicated, pool schemes of arrangements is in the offing after the manager of the London-based WFUM pools has written to policyholders to give them early notice of plans to propose a unified series of schemes...

The 23rd of November saw a gala night of charity white collar boxing as The Insurance Insider, hosted “A Hard Market?” on behalf of the London insurance industry.

Analysts have reacted negatively to the Turner Report’s proposal for a National Pensions Plan (NPP), calling the scheme a “white elephant” and predicting a negative effect on life insurers.

Reinsurance specialist broker, JK Buckenham Ltd (JKB) has announced the creation of JKB USA, which has been formed in partnership with US broker Performance Insurance Services.

UK listed broker Jardine Lloyd Thompson Group plc (JLT) has ended its year-long search for a new group chief executive with the internal appointment of chief operating officer Dominic Burke to the position.

Much has happened to the (re)insurance industry in the aftermath of this year’s record-breaking hurricane season. One area where Katrina and her stormy siblings have made an impact is in the CAT bond market, with the launch of two new bonds and...