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June 2002/1

  • The health insurer has washed its hands of reinsurance, but its exposures to variable annuity death benefits or VADBE's remain a concern
  • The long awaited judgement in the AXA/George Litto film finance case was handed down last month and, as the insurer feared, the presiding Judge has shown himself almost contemptuous of the insurer's arguments. AXA alleged that its former employee Jean Mic
  • While analysts react positively to AIG’s charm offensive, investors are continuing to sell Maurice “Hank” Greenberg has been described, with good reason, as the greatest man in insurance. He didn't form AIG, the world's largest insurance company by mar
  • New Bermudians take up some of the departing capacity as CEA prefers reinsurance over Cat bonds.
  • The United States Senate has passed legislation by an 84 to 18 vote that will assist insurers in the event of a catastrophic terrorist attack.
  • The morale of the London market - which has come up second best against Bermuda in the post 11 September capital raising stakes - was improved with the announced £139mn AIM float of Professional Risk Insurance Ltd.
  • Agreement ends years of dispute over John Charman’s reinsurance programme After a month of proceedings in the High court, lawyers from ACE, Aon and Gordian - the run-off company for Australian reinsurer GIO - have entered into a confidential settlement
  • Joe Plumeri’s arrival has coincided with the return of prosperous times. But the broker’s role in placing the WTC lineslip is an unwelcome cloud on the horizon In May Willis' majority owner, the US private equity firm KKR, took advantage of the broker
  • Soon-to-be floated broker admits errors and omissions exposures are “unsustainable” after its insurers demand a leap in rates and conditions Investors in HLF, which is due to float on the London Stock Exchange this summer, will be backing a company tha
  • Marsh, the world's largest insurance broker, has been sensationally dumped by Aetna on placing its own liability cover.
  • Lloyd's have confirmed the appointment of Lord Levene of Portsoken as the long-awaited successor to the chairmanship of Lloyd's.
  • Nissan Fire & Marine now estimated its aviation losses in connection with reinsurance contracts written by managing agent Fortress Re now total 128.8bn yen ($1.035bn).