January 2005/4

The Munich Re Group now expects to see 2004 profits of between €1.7bn-€1.9bn after an associated company revealed write-downs of €2.5bn in its annual financial statements.

Figures released by the Minerals Management Service (MMS) have revealed the continuing impact of Hurricane Ivan on Gulf of Mexico oil and gas production.

XL Capital became one of the first insurers to provide specific guidance on the Boxing Day Indian Ocean tsunami when predicting a pre-tax net loss of $75mn last week.

Insurers AIG, ACE and Aegis have settled their share of energy losses claimed by oil giant BP.

‘Placement Model Proposal’ endorses transparency; suggests additional fees may be charged. Marsh’s UK retail operation plans to offer customers a 2-5 percent discount off the “nett” price of cover, and has not ruled out charging the market extra...

The Connecticut attorney general Richard Blumenthal vowed to launch a series of legal actions over alleged insurance industry abuses when he filed a lawsuit against Marsh and ACE Ltd last week.