February 2005/3

Former XL Capital Ltd’s chief financial officer Robert Lusardi is to join White Mountains’ senior management team as executive vice-president and managing director.

The world’s largest reinsurance company Munich Re AG has further reduced its stake in the German insurer Allianz AG, according to a report in the Dow Jones newswires.

The controversial and politically sensitive dispute over the illegal acquisition of US insurer Executive Life by French bank Credit Lyonnais in 1991 is due to begin this week, barring a last minute settlement.

Bermudian giant XL Capital had its positive fourth quarter and year-end earnings release marred last week by an announcement from rating agency Fitch that it may slash the company’s debt ratings.

Fallout from WTC litigation continued apace last week when a federal appeals court ruled that the janitorial service for the buildings destroyed in the 9/11 attacks could claim as much as $127mn from Zurich American Insurance Co on its business interrupti

Later this week, the reinsurance industry will finally discover the impact last year’s reserving woes have had on Converium’s business.

Both Aon Corporation and Willis Group Holding Ltd – the second and third largest global brokers respectively – demonstrated the ongoing cost of the investigations into broker compensation practices when announcing their 2004 financial results last week.

2004’s status as a record year for catastrophe losses was underlined last week when figures released by ISO’s Property Claim Services (PCS) unit revealed that US P&C insurers paid out $27.3bn in claims to homeowners and businesses over the course of the y

Broker Monument Limited has announced the appointment of David Campbell as chief operating officer.

Argenta Private Capital Ltd has formally taken over the ongoing business of Anton Private Capital leaving only three remaining Lloyd’s members’ agencies.

Bermuda headquartered (re)insurer PartnerRe has reported net income of $143.7mn, or $2.54 per share on a fully diluted basis, for the fourth quarter of 2004.

French reinsurer SCOR has revealed the extent to which its business declined in 2004. In its full year earnings release the company unveiled a litany of decreases in the amount of business written since its financial strength ratings were slashed in 20