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June 2006/2

  • Although the pace of business process reform has picked up in London, with initiatives from Lloyd's, the Lloyd's Market Association and the G6 moving forward, Bronek Masojada, chief executive of UK insurer Hiscox, challenged the market...
  • Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.
  • The Financial Services Authority (FSA) is set to implement rules that will enable sidecar-style securitisation transactions to be formed in the UK.
  • In an exclusive interview with our sister publication IQ, Sue Langley, chair of the G6 and chief operating officer of UK insurer Hiscox, confirmed the group would pilot a new approach to contract checking, to which the new Lloyd's CEO Richard Ward...
  • Giant reinsurer Swiss Re has announced the issue of Successor, the latest in its series of cat bond programmes, as it continues to utilise the capital markets to offset risk.
  • Shares in American International Group (AIG) fell last month as investors sold stakes following a 16 percent drop in first quarter net income to $3.2bn.
  • Bermudian reinsurer Max Re filed its first quarter results late May in a move that should avert its delisting from the Nasdaq trading exchange.
  • The proposed WFUM pool scheme of arrangement, involving 16 different insurance companies, was granted leave to convene creditors' meetings by the UK High Court on 9 June.
  • The High Court has sanctioned the first transfer of business out of a Lloyd's syndicate since the formation of Equitas ten years ago, opening the prospect of a new method to obtain finality for non-trading syndicates.
  • Lloyd's has added Steve McCann, its head of open years, to a special working party to manage its application for a permanent Chinese licence as the deadline for regulatory approval fast approaches.
  • RMS learns Katrina lessons with new model; Buffett points to son as non-executive chairman; WTC insurers in fees victory; Imagine appoints ex-Platinum executive as CEO; Sompo Japan suspended by regulator; et al...
  • Equitas boosts asbestos reserves; Creechurch parts company with chief executive; Monument in disarray as chief executive quits; Novae enters energy as start-up gets A- rating; Lloyd's warns insurers on climate change; et al...
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