March 2002/1

A further sign that rate increases is not a universal panacea for the industry's ills occurred with the announcement that German industrial insurer and reinsurer has been put up for sale by its owners Deutsche Bank and Rolf Gerling. The move followed two

AIG has lashed out at one of its reinsurers in a strongly worded complaint filed in the US District Court of the Southern District of New York.

A legal dispute between Westfield, owners of the retail area of the World Trade Centre, and Zurich Insurance over supplementary cover has been voluntarily dismissed with both sides agreeing to resolve their differences in a mandatory arbitration hearing.

The 11 September terrorist attacks pushed QBE, one of Australia's few surviving international insurance companies, into an A$25mn loss for the 2001 year.

Dramatic testimony at the Royal Commission hearing into the collapse of Australian insurance company HIH has exposed the "accounting shortcomings" of HIH surrounding its 1998 acquisition of FAI Insurance.

Canada Life, one of the leading Canadian life insurers, has taken a provision of $70mn, net of tax, related to expected claims arising from the September 11 terror attacks. The company's gross exposure to Sept. 11 claims are estimated at $606mn. This prov

Rating agency Standard and Poor's has placed the triple-A ratings of all State Farm operating entities on CreditWatch with negative implications.

Berkshire Hathaway's insurance operations violated the ‘Noah’ rule in losing $4.1bn in 2001, according to Warren Buffet's typically folksy letter to Berkshire Hathaway's shareholders.

Lloyd's chairmen to leave early? With the Lloyd’s chairman taking a month-long honeymoon in New Zealand, there are plans at foot to replace him by the Summer.

Wellington plans to offer Lloyd's Names shares in the insurer to persuade them to agree to the formation of a new FSA regulated insurance company.

Pessimism mounts with further deterioration on back years and rumours that Lloyd's big guns plan to exit market Some of Lloyd's largest capital providers are planning to leave the market after losing patience with the perceived underwriting indisciplin

If one was to produce a table of those Lloyd’s insurers “doing well” after the misery of the 11 September attacks and appalling drain of Lloyd’s losses it would be a short one, but Amlin would be up there along with the likes of Kiln and perhaps Hiscox.