May 2005/3

Lloyd's CEO Nick Prettejohn has called on London Market brokers and underwriters to voluntarily embrace contract certainty initiatives ahead of the FSA's 2006 deadline.

The fall out from the $500mn transaction between AIG and Berkshire Hathaway subsidiary General Re (Gen Re) that brought down Greenberg continues, with reports in the Wall Street Journal that the US Securities and Exchange Commission...

ACE reported first quarter net profits marginally down, making $433mn or $1.46 a share compared to the $447mn or $1.53 a share it recorded in the first three months of 2004.

Marsh & McLennan Companies (MMC), the parent of world's largest broker Marsh, reported first quarter net income of $134mn, or $0.25 a share, well down on the $446mn or $0.83 a share booked in the first three months of 2004.

Privately owned Lloyd's broker FirstCity Partnership has parted company with senior executive Roddy Graham only days after promoting Stephen Burnhope to the head of its financial institutions and professional lines, The Insurance Insider understands.

Marsh UK is set to join rival Aon in formally agreeing a proposed framework for its new broking model with the Beazley Working Party, The Insurance Insider can reveal.

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

Led by campaigning New York attorney general Eliot Spitzer, the regulatory investigation into the use of non-traditional or finite-style reinsurance gathered pace once more this month with a raft of subpoenas dished out to buyers and sellers of the...

Financial impact worse than feared as beleagured insurer battles its past. Bitter recriminations between the current and former management of American International Group (AIG) hotted up this month, almost overshadowing the revelation by the embattled.

Advent Capital Holdings Ltd have appointed the stockbroking firm Numis Securities to float the Lloyd's reinsurer on the Alternative Investment Market (AIM) next month, The Insurance Insider can reveal.

Lloyd's insurer Heritage Underwriting Agency Ltd has urged its shareholders to reject an offer for 7.4 percent of the company's stock because it undervalues the company.

Steve McGill, the former chief executive of Jardine Lloyd Thompson Group plc, has left his short consultancy role at Benfield Group to join Aon Corp.