October 2003/1

$550mn start-up hit by breach of contract ruling The Quanta start-up story took a new turn last month when it emerged that Thomas F. Taylor, the former CNA executive vice president, who was to head up the E&O operation at Bermudian headquartered start

'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

Silverstein and Swiss Re posturing continues but patience wears thin The war of words between parties in the World Trade Center (WTC) insurance dispute continues to rage, despite the growing clamour for resolution of costly legal proceedings that conti

ACE's Syndicate 2488 underwriter Andrew Kendrick has been promoted to the role of president and chief executive officer of ACE Bermuda, replacing the current incumbent Mark Herman. Currently president of ACE Global Markets and a director of ACE INA UK

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

Defunct Australian insurer HIH has won partial access to pleadings and legal information from AIG subsidiary Lexington Insurance Company to help advance possible fraud allegations against the broker JLT. HIH applied to the High Court following the Ju

Personal accident specialist Jonathan Thomas is set to become the active underwriter of Creechurch's merged syndicates, if Lloyd's franchise performance director Rolf Tolle approves the move.

Heath's has settled much of its film finance exposures following the opening submissions in a critical High Court trial this month. The so-called "Phoenix" trial promised to set a marker for a series of multi-million dollar disputes involving insurance ba

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.

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