November 2006/4

Industry legend Hank Greenberg and his Starr companies have sold over 27 million shares in his former company, American International Group (AIG), since May.

Insurance giant Zurich Financial Services revealed a near trebling of its third quarter profit last week but analysts were surprised by a $500mn UK asbestos reserves boost with the firm blaming an "uptick" in claims trend.

Bids are being lined up for Marsh & McLennan's Boston-based Putnam Investments, according to reports in the Wall Street Journal (WSJ).

The Corporation's chief executive Richard Ward is understood to be close to ordering a restructuring of its senior management and reporting structures, according to sources.

Stephen Way has become the latest "A list" US insurance executive to suddenly resign from his company following regulatory scrutiny into its activities.

RK Harrison Insurance Brokers Ltd, the independent London market brokers, will appoint the former Jardine Lloyd Thompson Group executive Dominic Collins to replace its retiring executive chairman, Richard Corfield.

Trading by Wellington Underwriting plc in this year's Lloyd's syndicate auctions is being scrutinised following revelations that the company bought capacity on its own syndicate at a fraction of the price now being offered as part of the Catlin Group take

Tsunami warnings were issued last week following a large earthquake off northwest Japan but the subsequent waves were less damaging than initially feared.

The CV Starr & Co controlled managing agency American International Marine Agency of New York (AIMA) changed its name to Starr Marine Agency on 13 November.

The London market's first fully paperless claim settlement has been completed between reinsurance broker Guy Carpenter and Lloyd’s insurer Amlin.

Fittingly, on the day Guy Carpenter and Amlin announced the completion of the London market’s first paperless claim (see story 18), Lloyd’s CEO Richard Ward reaffirmed his commitment to seeing all claims transacted electronically by the end of 2007.

Oxygen Holdings plc, the London market intermediary backed by high profile figures such as ICAP founder Michael Spencer and former Marsh president Bob Clements...