July 2003/5

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.

Marsh, Willis and JLT continue to grow healthy brokerage revenues… Despite growing evidence that non-casualty pricing levels have plateaued, strong half-year results from Marsh, Willis and JLT show brokerage revenues continuing to grow.

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.