March 2004/3

Lloyd’s insurer Brit announced bumper results for 2003 last week, with profits increasing seven-fold on the back of a more than 50 percent rise in gross written premiums.

In his much-anticipated annual letter to shareholders, the world’s second richest man Warren Buffett railed against scandal-struck mutual fund companies and corporate greed, as his investment company Berkshire Hathaway unveiled profits that nearly doubled

The turmoil caused by a morass of US corporate scandals and the subsequent litigation that has followed, has led to insurers attempting to rescind Directors and Officers (D&O) cover, a London seminar heard last week.