November 2003/5

The multibillion dollar coverage dispute between World Trade Center leaseholder Larry Silverstein and the building’s insurers is set for a 9 February 2004 trial date.

AM Best has downgraded the financial strength rating of Paris-based reinsurer AXA Re and its subsidiaries from “A” (excellent) to “A-“ (excellent) with a stable outlook.

Zurich Financial Services (ZFS) has posted Q3 2003 profits of $701mn, compared with a net loss of $763mn for the same period in 2002.