June 2005/5

The extent of US regulatory interest into ACE Ltd was laid bare last week when the insurance group revealed it had handed over information on over a 100 different contracts.

Barbados-based Imagine has had its A- financial strength rating and a- credit rating put on negative outlook by AM Best following a review of the reinsurer’s acquisition of Danish Re and current uncertainty surrounding the finite reinsurance market.

US insurance giant St Paul Travelers revealed last week that it had entered into a settlement agreement with the Kemper Insurance Companies over a disastrous surety bond contract which has gone at least five times over its original estimates.

In a day of flux for the London Market insurance sector, Lloyd’s motor underwriter Cox has confirmed the appointment of Highway CEO Andrew Gibson as its new finance director.

UK broker Jardine Lloyd Thompson Group (JLT) plc is attempting to build bridges with the investment community by appointing former CAI Cheuvreux analyst Barrie Cornes as head of its investor relations team, Insider Week can reveal.