MGAs/MGUs [DEMO]

US terror bill causes confusion

US Government terrorism insurance backstop causes concern for non-US carriers Insurance and reinsurance companies face a period of uncertainty as they try to understand the implications of the US Terrorism Risk Insurance Act 2002, announced on 26 Nove

01 December 2002

ESG Re's fight for survival gets tougher

ESG Re, the Bermuda based Life, Accident and Health reinsurer, has seen its problems multiply after a disastrous fortnight that included another downgrade, the resignation of its auditors and a threatened de-listing from Nasdaq.

01 December 2002

BMS win fight over discreditable conduct charge

Ballantyne McKean & Sullivan has put up a tough fight to successfully rebut Lloyd's charges of discreditable conduct in relation to the administration of a South African account.

01 December 2002

Asbestos strikes back

R&SA and Syndicate 45 sued by T&N; Hartford sued by Western MacArthur; and Chubb takes $625mn hit as claimants target non-product liability coverage.

01 November 2002

Aon raises $1bn to restructure debt

Aon reports impressive 18 percent organic growth but cuts dividend, cancels Combined spin-off and reveals $500mn pension short-fall Aon's recent predilection for the dramatic continued last week when it revealed better than expected third quarter resu

01 November 2002

Deloitte & Touche in Fortress Re battle

In a further development in the legacy of Fortress Re, Deloitte & Touche, the auditors of their Bermudian registered reinsurer Carolina Re, are attempting to prevent the liquidators from deposing five of their staff, including two based in Bermuda.

01 November 2002

Sirius - to be spun-off?

The future of (re)insurer Sirius International is uncertain after its parent revealed its 2002 earnings will be less than expected.

01 November 2002

Barton still committed to reforms

A Serb and two Germans reflect the international flavour of Faraday's senior management, after the departure of the group's former chief executive Nigel Barton last month.

01 November 2002

Central Fund exposed to giant Aon energy claim

Losses from the collapsed Aon 77 energy lineslip to be contested in the High Court with the Central Fund and Aon’s E&O insurers exposed to outcome Lloyd's Central Fund may be forced to pick up the losses from Aon's collapsed energy lineslip regardless

01 November 2002

Arbitration at Lloyd's

Laptop examines an under-used section of the Lloyd’s Act that could give capital providers redress against mismanagement and negligence

01 November 2002

Hardy takes 13% stake in Atrium

Hardy Underwriting Group (HUG) has acquired a 13.3 percent share in fellow Lloyd's listed vehicle Atrium Underwriting. HUG paid £4.85mn cash for 6.47mn ordinary Atrium shares.

01 November 2002

Berkshire: New support for Trenwick at Lloyd's

The future of Trenwick's Lloyd's operations was given a boost by the news that Berkshire Hathaway will increase its support for the 2003 year.

01 November 2002