January 2004/1

Japanese backer Sompo establishes fraud at controversial US aviation reinsurance The three Japanese insurers who discovered they owed more than $3bn after backing a North Carolina managing agency won a significant victory in the United States last mo

Another loss struck year for the troubled space insurance sector was rounded off in farcical fashion with the revelation that a Loral-built SPAINSAT satellite was “dropped” during testing, leading to a potential $95mn claim on the London cargo market.

Insurance analysts are taking mixed positions on the industry’s fortunes with Europeans seemingly less confident on prospects, The Insurance Insider discovers 2004 is likely to be marked by premium growth in the high single digits, with a continuing bu

US giant property casualty insurer The Hartford announced on 19 December that it had agreed a $1.15bn global claims settlement for asbestos exposures to MacArthur Company and its Western MacArthur subsidiary. In a statement, the insurer said the agreem

The parent of disgraced broker Stirling Cooke Brown has applied for Chapter 11 bankruptcy protection while revealing that its largest creditor is London law firm Richards Butler. Richards Butler advised Stirling Cooke Brown in the marathon legal battle

Over 2000 policies have been issued from dubious insurer, despite warnings from The Insurance Insider last year, principally for employers’ liability. The UK regulator, the Financial Services Authority, (FSA) has warned the industry about CIC - the dub

Disagreements between Lloyd's underwriting supremo Rolf Tolle and Berkshire Hathaway led to the latter slashing the size of its Lloyd's subsidiary Marlborough, The Insider can reveal.

New Bermudian based (re) insurance group Quanta Capital is set to raise over $600mn in an initial public offering, despite being in existence for only matter of months. On the 24 December 2003, Quanta filed a Form S-1 registration with the US Securiti

Cavell Management services Ltd, the Norwich based run-off company recently acquired by former Eastgate duo Ken Randall and Alan Quilter, is set to win the contract to run-off GoshawK’s Syndicate 102. According to sources, after final presentations from a

Swiss Re's decision to stop writing a significant amount of Lloyd's reinsurance business is unrelated to the Central Fund coverage dispute, the Zurich headquartered reinsurer said last month. As revealed in the December edition of Insider Week's siste

Despite a growing trend to avoid the vulgarity of contested seats by pre-selecting suitable candidates, the annual Lloyd's Council election often fires up a controversy or two and this year is no exception.

Average syndicate grows to record size as Lloyd’s insurers get bigger. The trend for ever-larger trading units at Lloyd’s has continued with the average syndicate capacity size now £227mn, up from the previous record of £203mn last year. According