November 2004/4

Embattled superbroker Marsh was given a minor fillip last week (11 November) as it received, along with world and UK numbers two and three Aon and Willis, notice that UK regulator the Financial Services Authority (FSA) is “Minded to Authorise” (MTA) the b

ACE announced today a reshuffle of senior executives at its Bermudian and European operations, with current ACE Bermuda president and CEO Andrew Kendrick moving back to London to take on the role of chairman and CEO of ACE European Group.

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

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.

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

After several months of speculation, Berkshire Hathaway backed insurance company Euclidian will announce tomorrow (16 November) that its Lloyd’s Syndicate 1243 is to be placed into run-off and will not take on any new business for the 2005 year.