May 2005/3

In the week that MMC had to reveal a 70 percent cut in first quarter earnings, more bad news arrived in the form of a legal action against the broker from Fortune Brands - the former Marsh client who was an apparent victim of bid-rigging.

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...

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.

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.

Run-off reinsurer CX Reinsurance Company Ltd saw its surplus fall by a third last year as losses from its US professional liability exposures continued to hit the company hard.

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.

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.

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

Start-up broker Integro Ltd will pursue a policy of strictly limited acquisition as it attempts to crack the hegemony enjoyed by Marsh and Aon in the US commercial risks market, The Insurance Insider can reveal.

UK broker Heath Lambert Group is set to undergo another capital restructuring only 18 months after a debt-for-equity deal with its bankers.