March 2005/2

Insider Week’s sister publication The Insurance Insider is sponsoring a series of free briefings on the UK regulatory compliance landscape during April.

Lloyd’s (re)insurer Wellington has announced that it will sell off more of its shares of Aspen Re, the Bermudian former subsidiary it helped found. On 8 March, the company issued a press statement in which it said it was willing to sell 10 percent of i

The sentencing of flamboyant insurance executive Michael Segal was postponed from 6 April to 29 June last week under a motion approved by the US District Court for the Northern District of Illinois.

US reinsurer Odyssey Re Holdings Corp has announced the retirement of its executive vice-president and chief financial officer Charles Troiano. In his stead comes Robert Giammarco, currently the managing director in the Financial Institutions Investment B

Marsh & McLennan Risk Capital Holdings has agreed to sell around half of its share in AXIS Capital, the Bermudian (re)insurer it helped found in the wake of 9/11.

FSA chief executive John Tiner may turn the regulatory spotlight on finite reinsurance in the UK, it emerged last week.

Robert Hiscox, the forthright chairman of Lloyd’s insurer Hiscox plc, has slammed the “petty rules” culture of the UK regulator Financial Services Authority (FSA) while unveiling a slight fall in trading profits at the eponymous insurer.

Benfield Group Ltd posted flat trading profits and a slide in revenue last week while outlining a strategy to grow its primary operations in response to the turmoil facing the US insurance industry.

Despite closing the 2002-year of account on its Syndicate 1200 with a 38 percent profit on capacity, claiming the third best result in the market, listed Lloyd’s managing agency Heritage has been forced to leave the year open on Syndicate 1245 due to unce

Mark Hewlett, the former Sedgwick broker and European insurance managing director of Moody’s, has left the rating agency, Insider Week can reveal.

Lloyd's has settled its £500mn Central Fund dispute with its six reinsurers, following the second phase of its arbitration tribunal, for a total of £152mn.

Insider Publishing Ltd, the publisher of Insider Week and The Insurance Insider, has launched a new publication that focuses on the life insurance, investment and pension industries.