MGAs/MGUs [DEMO]

Rutter leaves the Underwriter

Founder departs; but all is well, liability insurer insists The chief executive of the commercial liability insurer The Underwriter Insurance Company Ltd has parted company with the firm he helped form. Keith Rutter resigned from The Underwriter last

01 March 2003

Names canvassed by Integer Action Group

Lloyd's Names are being asked to pay £75.00 to join an action group that will investigate the possibility of alleged mis-selling by Names' stop loss mutual Integer. The newly formed Stop Loss Recovery Group is canvassing Names who purchased stop loss i

01 March 2003

Buffett - don't mention the Gerling

Insurance stocks on both sides of the Atlantic wobbled on 10 March as investors nervously digested Warren Buffett's remarks in his annual letter to Berkshire shareholders. In contrast to his remarkably bullish comments on Berkshire Hathaway, he lashed

01 March 2003

Why can't an insurer be more like a broker?

Insurers need to think more like brokers or derivative traders if they are to get away from the culture of underwriting losses, which has become engrained within significant parts of the industry. This was the message of US insurance analyst Alice Schr

01 March 2003

Arbitrage market on tenterhooks

Participants anxiously await verdict in mammoth Sphere Drake/SCB “arbitrage” trial "There is no way that I can reach a judgement that will not result in the finding of the gravest dishonesty against someone. But so be it." This chilling phrase was

01 March 2003

Insider Shorts - Silverstein "undermined" by City Hall

Larry Silverstein, the World Trade Center leaseholder, has complained that New York City officials are undermining his position as he campaigns for a $7bn settlement from his insurers.

01 February 2003

Insider Shorts - UBS Warburg bullish on reinsurance rates

As we approach the heart of the European reporting season, UBS Warburg has warned that investors will have to wait another year before reinsurers' results properly reflect the improved rating environment.

01 February 2003

Calls grow for US tort reform

Pressure for comprehensive legal reform in the US has grown with the American Bar Association (ABA) voting to back asbestos limit caps and the asbestos reform bill was introduced in the US Senate. This after President Bush called for changes to medical ma

01 February 2003

Fitch mixed on Lloyd's

Fitch, the rating agency, has affirmed the 'A-' financial strength rating of Lloyd's, but has retained the market's negative outlook. While Lloyd's capacity might have leapt to a record high of £14.4bn there are still some problems ahead, argues the ag

01 February 2003

Calling in the cash - Laptop scrutinises the cash call system as Lloyd’s managing agents send out their latest demands

It has become customary to add to the woes of syndicate members by declaring losses not only when an account is due to close after 36 months; but also at quarterly intervals at any point in the normal three-year life of an account, or thereafter during th

01 February 2003

2002 results - Analysis on the big brokers’ 2002 year-ends; plus exclusive results coverage including ACE,Wellington, Chubb and Axis

Marsh turns on the pressure As one of the first brokers to reveal their 2002 results, Marsh's 16 percent increase in organic growth put the pressure on its broker rivals who didn’t always measure up when they followed. Overall the results of Marsh's

01 February 2003

More losses at troubled Trenwick

Embattled insurer Trenwick Group posted devastating fourth quarterlies to unveil a $386.1mn loss for the year. A loss was inevitable even before the insurer announced a $107mn boost to its reserves for the fourth quarter. The reserve boost, which followed

01 February 2003