March 2004/4

Lloyd’s Insurer Cox is in takeover talks with rival motor insurer Highway, it has emerged.

Judgment to examine whether excess of loss reinsurers can expect a 'duty of care' from direct insurers

Dutch insurer Aegon has announced a 16 percent increase in net profits for 2003 - the result, it said, of better performing stock markets and fewer bond defaults.

Nine intense typhoons and 17 typhoons are predicted for the forthcoming Northwest Pacific typhoon season according to the latest forecasts from the Tropical Storm Risk (TSR) consortium.

Reinsurance broker Benfield has announced the sale of 2,390,785 shares in Bermudan reinsurer Montpelier Re, with effect from 15 March.

Straight talking Willis supremo Joe Plumeri warned the London market that it must change its outlook to achieve consistency of returns, growth and earnings, as he enthralled his Lloyd’s library audience in last Wednesday’s (10 March, 2004) Insurance Insti

Bermudian insurer PXRE announced last week (10 March) a strategic reorganisation of its underwriting and support operations which will see a 10 percent reduction in staff and estimated cost savings of some $2.7mn for the remainder of 2004 and some $4mn in

Bermudian insurer ACE last week announced that Evan Greenberg would assume the role of CEO as of 27 May 2004. The move will see the replacement of current ACE chief Brian Duperreault, who, ACE said, will remain as chairman.