January 2005/1

Fitch Ratings has found itself embroiled in a dispute with the German Insurance Industry Association GDV over its plans to publish unsolicited ratings on hundreds of European insurers. In a 7 January dated letter sent to Fitch Ratings' managing directo

Cover for up to $65bn of telecoms assets may have to be placed on the open market following the collapse in November 2004 of Pender Mutual Insurance Company (PMIC), the Isle of Man based insurer set up to provide cover for Cable & Wireless and other large

But uncertainty remains on how firm the company’s walk-away option is on remaining asbestos exposures... ACE Ltd has partially lifted the asbestos albatross which haunted the company's reserves ever since it acquired CIGNA Property & Casualty business

Brokers Aon and a host of Lloyd's syndicates were treated with a Christmas surprise after Justice Morison delivered his long awaited verdict against the reinsurers of the Aon 77 energy lineslip on 21 December. The verdict means that Cotesworth Syndicat

There is increasing evidence that energy renewals have been hard hit by Hurricane Ivan, the Category 5 hurricane that ripped through the Caribbean and Florida in September 2004.

Capital Bonding founder launches lawsuit despite regulatory actions The controversy over the threat of multi-million dollar US bail bond losses which loomed over various London market reinsurers last year took a new twist this month with news that the

A last-minute agreement was reached this month between the Lloyd's Market Association (LMA) and London Market Insurance Brokers' Committee (LMBC) on the form of the new Lloyd's terms of business agreements (TOBAS). The decision came on 13 January, 2005

ACE USA chief executive Susan Rivera became the second most high profile casualty from the investigations into insurance industry practices following the ousting of MMC chief executive Jeffrey Greenberg in October 2004 when ACE Ltd announced her resignati

Little over a week after receiving a request for information on the sale of its "non-traditional or loss mitigation insurance products" from the Securities and Exchange Commission (SEC), Berkshire Hathaway unit General Re revealed that it has been subpoen

The Securities and Exchange Commission formally opened an investigation into Marsh & McLennan Companies' relationship with its private equity arm, MMC Capital, and its managed Trident investment funds, last month.

Robert Stearns, a senior vice-president and excess casualty broker at Marsh's New York office, pleaded guilty to a felony fraud charge last week in relation to New York attorney general Eliot Spitzer's investigations into bid-rigging.

MMC is close to restructuring its relationship with its private equity arm, MMC Capital, less than a month after the Securities & Exchange Commission (SEC) requested information about the unit.