MGAs/MGUs [DEMO]

Willis joins Stirling Cooke Brown in "Unicover writ"

Potential ‘spiral’ exposures force Willis to join SCB in fighting Odyssey Re's claims Recently floated broker Willis has made a late application to join Stirling Cooke Brown in fighting allegations that the broker deliberately conspired to place under

01 July 2001

Inside News

R&SA and Heath’s sued over $160mn film finance dispute US entertainment company Artisan Entertainment is suing R&SA and insurance broker Heath Insurance Broking Ltd for fraud and deceit over a complicated $160 mn insurance backed financing deal.

01 June 2001

Inside Film Finance

AIG throws blame onto financiers in the wake of Flashpoint Court of Appeal decision. We re-publish the release in full.

01 June 2001

Inside Letters

Flashpoint $1 million fraud victim

01 June 2001

User-Pays revisted

User-pays was heavily criticised. Lloyd’s insists that the process has been reformed but Laptop argues there is still much to be done In December 1997 Lloyd's announced the introduction of “User Pays”. One of the aims was to remove “the subsidisation

01 June 2001

The Insurance Company Stock Option Bazaar

CEOs get cheap options Stock options may be a good form of compensation for start-up companies, but they aren’t appropriate for CEO's at most insurance companies. From a shareholder’s perspective, they have several drawbacks. They don’t align the C

01 June 2001

PA: Lloyd's loses $1bn a year

Gross results demonstrate sectors dependence on cheap reinsurance, and highlight concerns over expected recovery in the light of continuing stiff competition. Personal Accident: "An insurance policy which, in return for regular premiums, pays a specif

01 June 2001

AIG Attacks Credit Suisse Over Film Finances Losses

Insurer’s refusal leads to default on up to $183mn of CSFB Flashpoint bonds, but will the tactic backfire? According to the industry quip, AIG's unofficial motto is “make a claim, and we'll sue you”; a cheap shot at the world's largest insurance compa

01 June 2001

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

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

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