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February 2005/2

  • 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 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.
  • Lloyd’s run-off vehicle Equitas continued its strategy of commuting its policies by announcing two significant agreements in recent days.
  • US reinsurance broker John P Woods Co has seen its founder defect to rival Towers Perrin only days after parent AJ Gallagher & Co announced it was rebranding its reinsurance operations as Gallagher RE.