March 2005/3

MMC Capital's chief executive Charles Davis is to lead a management buy-out of the private equity firm from its parent, the broking giant Marsh & McLennan Companies.

Spitzer pursues a 'bottom upwards' strategy with bid-rigging investigations Kathryn Winter, a former Marsh managing director, became the 10th member of the US property & casualty industry to plead guilty to a criminal charge in connection with the New

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

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

Benfield thought to be leading the pack as they announce strategy to expand primary operations Benfield Group Ltd is in talks with the former Jardine Lloyd Thompson Group Plc chief executive Steve McGill to drive the reinsurance broker's expansion into

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. The agreement follows the damaging arbitration decision in the first phase of the tribunal which

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.

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

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.

Broking giants count cost of Spitzer JLT blames Risk Solutions for sluggish performance Benfield posts flat profits but sees growth in primary markets MMC culls a further 2500 jobs to cut costs

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

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