February 2005/2

Lloyd’s CEO Nick Prettejohn issued a stringent call for the UK’s Financial Services Authority (FSA) to take a more active role in preventing conflicts of interest caused by undisclosed broker commissions.

Despite the growing suggestions from reinsurance brokers that rates are under pressure, SCOR became the latest reinsurer to issue a relatively upbeat assessment of market conditions when it described its renewals as “satisfactory”.

Lloyd’s was one of a host of (re)insurers to reveal their loss exposures to the recent catastrophes that have struck the industry.

Lloyd’s run-off vehicle Equitas continued its strategy of commuting its policies by announcing two significant agreements in recent days.