MGAs/MGUs [DEMO]

AIG's 'Hostile' Takeover Attempt for American General - Is AIG’s Stock Too High? Ask’s David Schiff

On 3 April 2001, after the market had closed, AIG announced an unsolicited $46-per share offer to acquire American General in a $23bn stock transaction - a 25 percent premium over the closing price. One wouldn't go so far as to call Hank Greenberg a co

01 May 2001

Lloyd's Market Results 1998

Continued poor forecasting adds to dismal performance of Syndicates In February 2000 Douglas Morton joined the Corporation of Lloyd's as Chief Analyst, reporting directly to Pat Hakong in the Market reporting and Solvency Department. His appointment ha

01 May 2001

Willis Seeks Place in the Sun

Willis relocates to Bermuda; proposes a partial offering of its stock in the United States; and Kohlberg, Kravis Roberts announce that they're not quite ready to sell their shares just yet etc.

01 May 2001

Salem to face witch hunt

Norman Salem, the former Reliance underwriter and manager of US mga Global Managers, has upset various Lloyd's syndicates including Alleghany after large losses on his Legion fronted US energy and engineering account.

01 May 2001

Stirling Cooke renames as Atlantic Star

Stirling Cooke Brown's path towards redemption has taken a further step with the announcement of a re-branding exercise and the appointment of Tony McCallum as the new managing director of the Company's London operations. As a result of the re-branding SC

01 May 2001

Zurich's 'Unicover' Headache

Proposed spin-off troubled by disputed workers’ compensation carve out losses Zurich Financial Services’ ability to spin-off its reinsurance division will depend upon persuading investors that a series of losses, including ongoing exposures arising fro

01 May 2001

Independent for How Much Longer?

On 6 March Independent Insurance Company ceo Michael Bright made the following upbeat statement about Independent's 42 percent fall (from £69.8mn in 1999 to £40.1mn for 2000) in anticipated profits:

01 May 2001

Trenwick International

Michael Watson, the former Chief Executive of Unicover afflicted Odyssey Re, is to replace Pierre Croizat as the new Chief Executive of Trenwick International, the London arm of Bermuda-based insurer Trenwick Group Ltd. Watson is joined by James Giordano,

01 May 2001

FINPRO team to join First City

First City, the independent Broker specialising in insurance for financial institutions, will recruit the five strong FinPro team that resigned from Marsh's Financial and Professional Indemnity division (FINPRO) subsidiary last month. The move will contin

01 May 2001

Can Independent recover it's shine?

The former darling of the city is looking lonely after under-reserving When even the house broker is forced to reduce its recommendation to a neutral, you know you are in trouble. Michael Bright, the outgoing chief executive of Independent Insurance P

01 March 2001

Was Flashpoint the victim of fraud?

Flashpoint’s sister company British International Group claims to be a victim of forged Far East binders. In an exclusive investigation, The Insurance Insider investigates David Forrest’s unhappy involvement with the murky world of insurance con-men and c

01 March 2001

Reinsurers Victorious on Film Claims

Controversial film financier Flashpoint calls in administrators and admits to misusing insurers’ monies. S&P react with largest single downgrade of a European bond

01 March 2001