October 2003/1

Embattled UK insurer Royal & Sun Alliance breathed a corporate sigh of relief this month after its £1bn rights issue went through with 92 percent of the 1.3bn new shares subscribed for by existing shareholders at 70p each. Although heavily discounted

Followers of US tort reform developments were teased this month with the prospect of a real breakthrough, as Republican Senator Bill Frist stepped in to rescue stalling asbestos talks, negotiating a new deal between insurers and industrial defendants over

'Unreliable' evidence of veteran Lloyd’s underwriter ends accusations of negligence Coutts, the royal bankers, has been exonerated in a legal battle about whether it should have told a Lloyd's syndicate that its managing agents had not opened an Indepe

Quoted Lloyd's insurer SVB is considering a 2004 fund raising to capitalise a new FSA-authorised insurer that would lead its charge in writing D&O, medical malpractice and professional indemnity business - a model similar to UK start up PRI Ltd before its

Lloyd's insurer Omega Underwriting Agents was forced to scale back its 2004 expansion plans following the failure of some members agents to fully support its ambitions. Nevertheless, the manager of Syndicate 958 will still expand its 2004 capacity by

The world's largest insurance broker Marsh is embroiled in an awkward $250mn policy wordings dispute with the London market over the placing of Financial Institutions insurance cover for its long-time banking associate JP Morgan. Despite renewing a ble

The militant Lloyds Names Association (LNA) will attempt to recover up to £100mn from the Central Fund for what it describes as Lloyd's failure to adequately regulate the market, The Insider has learned. The move follows this summer’s landmark judgment

Mike Hammond the former chief executive of broker Marsh's UK operations is to join rival Jardine Lloyd Thompson, it was revealed last month. Staff at JLT were told of the move by senior management and the news ended months of speculation over Hammond's

Reinsurance spin-off Aspen Re is set to raise around $200mn if its NYSE IPO proceeds to plan next year, according to sources. Aspen Re, which specialises in property and casualty reinsurance in the UK, the US and Bermuda, has been seen as a prime IPO

Lloyd's personal accident market is braced for claims relating to the 3 October mauling of Roy Horn, one half of the stage act Siegfried & Roy, by a white tiger at the Mirage hotel, Las Vegas.

After a failed final attempt at mediation, the sides in the controversial Aon 77 dispute are readying their corners ahead of a UK High Court trial, due to begin on 27 October in Court Room 22. The trial is scheduled to last for 10-12 weeks, with a Christm

As long as average CEOs are paid as if they were superior CEOs, the issue of executive overcompensation won't go away. Where CEO pay is out of alignment with long-term corporate results, shareholders will not remain complacent. How, during the past two de