July 2003/5

Marsh has missed key deadlines in its acquisition talks with HLF Group Plc, leading to speculation that the world’s largest insurance broker may withdraw from the proposed £350mn takeover.

US giant insurer AIG has announced sturdy second quarter 2003 figures with profits up 26.4 percent to $2.28bn, against $1.80bn for the same period last year. The six monthly showing saw net income totalling $4.23bn, up from $3.78bn last year.

Ernst & Young, the big four accountant facing a £2.6bn claim from Equitable Life, has only limited professional indemnity protection from Swiss Re, one of the world’s largest reinsurance companies.