November 2004/4

Lloyd’s listed vehicle Kiln plc announced last week that Professor Ian Percy will retire as chairman with effect from 4 March 2005 and as a director from 31 March 2005.

Bermudian (re)insurer AXIS has announced the realignment of its organisational structure to, in its own words, “enhance the brand and operations of its insurance businesses and its reinsurance businesses globally”.

Germany’s Hannover Re reported third quarter figures stung by the recent catastrophic windstorms in the US and Japan, with operating profit of just €32.6mn for the quarter, compared to €216mn for the same period last year. The group’s quarterly €20.4mn ne

Another difficult week for Marsh and its parent company MMC, as it announced falling profits and 3,000 job losses.

As the fallout of New York attorney general Eliot Spitzer’s investigation into contingent commissions gathers pace, it emerged last Friday (12 November) that Connecticut’s attorney general Richard Blumenthal has now issued subpoenas to 42 insurers and ins

New York attorney general Eliot Spitzer said last Friday (12 November) that he expects the federal government to supercede states in the regulation of insurance companies, as he dismissed the current system as a failure.