June 2004/3
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Fulham Football Club has issued a High Court writ against a consortium of Lloyd’s syndicates for failing to pay personal accident (PA) claims on one of the club’s former players.
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Disgraced broking group Stirling Cooke Brown (SCB) – now renamed AlpahStar Insurance Group - is considering suing co-founder Nicholas Brown for his involvement in the group’s collapse.
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Marsh & McLennan chief executive Jeff Greenberg reassured investors that the group will continue to receive compensation for its broker services, despite New York attorney general Eliot Spitzer’s investigation into the practice.
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UK broker Jardine Lloyd Thompson (JLT) has been voted European Commercial Broker of the Year, in a poll of more than 2,000 UK and European risk managers.
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Reinsurer broker Benfield has appointed Chris Cook to its aviation insurance team, where he will focus on major aviation risks.
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Run-off specialist Omni Whittington has announced the appointment of Harry Whitcher as the new compliance and risk manager for Reliance National Insurance Company (Europe) Limited.
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US insurer Allmerica has announced the extent of likely incurred catastrophe losses following the recent spell of severe weather over the Michigan area.
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Bermuda’s Everest Re had its A+(Superior) financial strength rating affirmed by AM Best last Wednesday (2 June). The agency also affirmed Everest Re’s debt ratings and extended the group’s financial strength rating to a previously unrated subsidiary Evere
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Moody’s and AM Best have respectively assigned A3 and BBB+ ratings to ACE INA’s proposed $500mn senior unsecured debt issue, announced last Wednesday (3 June).
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Standard & Poor’s (S&P) announced Thursday (3 June) it had affirmed Swiss reinsurer Converium’s ‘A’ long-term counterparty credit and insurer financial strength ratings after conducting a review. The group’s US operation Converium Holdings (North America)
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Bermudian (re)insurer Arch Capital has announced that it will start to underwrite commercial business in the UK this week, after receiving a licence to do so from the Financial Services Authority (FSA).
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Specialty property and casualty insurer Markel International has announced the launch of a new insurance product to cover professional karting circuits.
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