MGAs/MGUs [DEMO]

Lloyd's: Search for the Underwriting 'Tsar'

Finding a good franchise performance director will not be easy Lloyd’s search for its Underwriting Tsar steps up a gear with the recent unveiling of its franchise proposals. Containing few surprises, the 56 page consultation document published by the C

01 July 2002

Munich Re's WTC reserve boost sparks share falls

Munich Re, the world's second largest reinsurer, increased its WTC loss reserves by a further $500mn to €2.7bn sparking a collapse in the value of European stocks.

01 July 2002

NM Rothschild planning £500mn Lloyd’s vehicle

One of the UK’s oldest banks, NM Rothschild & Sons, is planning a new Lloyd’s investment vehicle with Sax Riley, the Society’s retiring chairman, and the Lloyd’s Members Agency Sedgwick Oakwood Capital Ltd.

01 July 2002

Chicago brokers battle over stamping ground

The rivalry between Aon and its Chicago neighbour Near North is becoming increasingly vicious with allegations of theft, blackmail, and industrial espionage. It's unlikely that Pat Ryan, the impeccably groomed head of Aon, was upset by the arrest of...

01 July 2002

HLF Group pulls planned float

London based broker HLF was forced to pull its planned float after twice extending the pricing deadline to continue discussions with potential investors.

01 July 2002

Hayes to settle with ACE over sex discrimination allegations

ACE is poised to announce a settlement with Jane Hayes, the former ACE underwriter who earlier this year appealed after her Court failure to prove sexual discrimination and unfair dismissal against ACE’s Charman Underwriting.

01 July 2002

The corporate cuckoos

The withdrawal of capacity, a plethora of reinsurance disputes and departing corporate capital has left a vast number of open syndicates. Laptop analyses what went wrong The proposed Lloyd’s franchise reforms are partly justified as a way of preventing

01 July 2002

Jaffray Names lose 'fraud'case appeal

The Court of Appeal unanimously rejected the case brought by the so called Jaffray Names against Lloyd's, and upheld the earlier High Court ruling that Lloyd's had not committed fraud.

01 July 2002

Corporate America revelations hit insurers

D&O insurers take the strain as the examples of numerical innovations and accounting irregularities mount. The Insider analyses the high-profile corporate losses which could impact the sector. On announcing their 2nd quarter results on 23 July, St Paul

01 July 2002

OAMPS' bitter past

OAMPS is Australia’s first accredited Lloyd’s broker - but its recent successes hide a bitter boardroom battle that ended with the disqualification of its former Chairman. One of the largest shareholders of Lloyd's only accredited Australian broking ho

01 July 2002

XL takes unexpected $200mn WTC charge

XL Capital’s share price fell 12 percent after the insurer announced an unexpected $200 mn charge for additions to its 11 September reserves and a $120 million charge for bond writedowns for WorldCom, Adelphia and other telecommunications companies.

01 July 2002

ACE to reduce Lloyd's involvement

Bermudian insurer plans to reduce its Lloyd’s capacity by almost a third to £652mn. ACE, one of the largest capital providers in Lloyd’s, is considering reducing its 2003 capacity by almost £300mn to £652mn.

01 July 2002