November 2004/3

David Mann, the founder of the eponymous Lloyd’s insurer, is to join the board of the specialist Lloyd’s based Hardy Underwriting Group later this month.

UK motor insurer Cox Insurance Holdings has received a number of bid approaches, the company confirmed yesterday.

Q3 results ‘raise more questions than answers’, according to analyst More questions have been raised about the accuracy of financial reporting at Canadian holding company Fairfax.

Analysts and lobbyists hail election result The re-election of George Bush in last week’s presidential elections will give added impetus to efforts to extend the Terrorism Risk Insurance Act (TRIA) in 2005, according to Charles Landgraf, a leading lob

Florida’s attorney general Charlie Crist became the latest US regulator to open an investigation into alleged bid rigging and insurance commission arrangements last week.

While MMC’s Jeffrey Greenberg and his Marsh Inc colleague Ray Groves were the first two casualties of Spitzer’s assault on practices in the P&C industry, they were followed last week by a wave of sackings among the companies implicated in the attorney gen

The French insurance market is maintaining its stability despite increased pressure on motor rates and a lacklustre economy, according to a report from rating agency Standard & Poor’s (S&P).

Independent London market broker Glencairn has announced the appointment of Kevin Hogan as chief operating officer.

New York attorney general Eliot Spitzer is continuing to broaden his probe into the insurance industry by opening an investigation into products such as finite reinsurance, which can help enhance financial statements.

Julian Taylor, the Marsh UK employee suspended for allegedly charging unauthorised commissions, has now been dismissed according to the broker.

Aon’s retiring chief executive Patrick Ryan has called upon the insurance industry to implement reform to reclaim the trust of its clients in the wake of New York attorney general Eliot Spitzer’s investigation into alleged price fixing.

There were more developments at besieged Swiss reinsurer Converium last week with the news that Group CFO Martin A Kauer had handed in his resignation and would be leaving the company early 2005.