March 2005/3

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

Aspen profits up AWAC positive result despite storms IPCRe hurricane losses grow Platinum profits down Quanta makes maiden year loss

The widening scope of schemes of arrangement was extended further last month as a Canadian court upheld its approval of a scheme promoted by run-off manager Cavell, despite last minute attempts to derail the process by Canadian policyholders.

Reinsurers seek to avoid liability on WTC claim The legal repercussions of the 9/11 Twin Towers attack continue to resonate - with a dispute appearing in court this month between Aon subsidiary Combined Insurance Company of America and its reinsurers o

Friction between Manning Williams Ltd founder John Manning and co-director Colin Spreckley contributed to the decline of the Lloyd's broker, according to the director's report to the creditors meeting earlier this year. On 9 December 2004, the broker

Agency relationship is at the heart of the dispute London market underwriters and brokers remain at loggerheads over new proposals for charging broker commissions, The Insurance Insider understands, with negotiations set to reach a critical stage in co

In our regular monthly News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.

Until Enron changed the rules, AIG's habit of revealing unrelentingly smooth earnings tailored to the needs of Wall Street was widely acknowledged to be unremarkable.

Potential new addition to quoted Lloyd's company sector Lloyd's insurer Omega Underwriting Holdings Ltd is planning an IPO, two years after it postponed a possible flotation, in a bid to build a platform to grow its permanent capital base and provide g

Hank Greenberg’s replacement needs to prove the AIG chalice is not poisonous Even an industry legend can only suffer so many regulatory black eyes, and so it proved for American International Group's Maurice "Hank" Greenberg. Greenberg finally thre

MMC chief executive Michael Cherkasky vowed the broker will keep its wholesale operations despite concerns that they can lead to conflicts of interest.

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.