November 2004/1

Lloyd's insurer Beazley announced a £105mn Rights Issue on 1 November with the lion's share directed to support the additional risk-based capital requirement fuelled by its increased participation on its Lloyd's Syndicates for the 2005 year. The insure

Besieged Swiss reinsurer Converium revealed on 4 November that Group CFO Martin Kauer had handed in his resignation and would be leaving the company in early 2005.

As third quarter results filter through from US and Bermudian property casualty (re)insurers, the full impact of the season's quartet of hurricanes is becoming clearer, with interim results hit hard across the board. Hurricanes Charley, Frances, Ivan a

Marsh UK sacking 'tip of the iceberg'? Last year, UK Broker Heath Lambert lost a lucrative reinsurance account with the Australian Federal government after it admitted receiving "unauthorized commissions". It was an offence apparently similar to th

MMC to lose thousands of staff In late September, senior Marsh executives from the broker's executive liability arm FINPRO met at a restaurant in New York to be told the broker would be making over a thousand redundancies which would include losses fro

Companies rarely volunteer to forego a lucrative proportion of their revenue streams but that is exactly what the industry's international brokers and large US retail brokers have been doing in the wake of Spitzer's allegations of price-fixing at Marsh.

MMC’s difficulties extend overseas with financial irregularities in Marsh Ireland and the sacking of a senior employee in Marsh Ltd for “misconduct” Marsh's Irish subsidiary Marsh Ireland has revealed that it has a EUR6.7mn hole in its accounts - more