October 2004/4

UK headquartered broker JLT Risk Solutions has opened an office in Dubai’s International Financial Centre.

Reinsurance broker Benfield launched a new report devoted to the global D&O and Financial Lines last Wednesday (13 October).

Everest Re’s UK head Mark de Saram is to become the managing director and chief executive of the reinsurer’s Bermudian arm, Everest Bermuda.

UK general insurer Royal & Sun Alliance (R&SA) had its Standard & Poor’s (S&P) ratings outlook upgraded from negative to stable last week (12 October) as the agency recognised the company’s continued turnaround progress.

Risk-based capital allocation models and better risk modelling techniques, together with improved underwriting discipline, have put the London market in a better position than ever before to counter the destabilising effects of the underwriting cycle, acc

Lloyd’s insurer Ascot announced plans last Wednesday (13 October) to set up a Paris operation to tap into continental catastrophe and risk business.

Fearsome foursome hit bottom line but Market still on track for estimated £1bn profit in 2004 Lloyd's this week confirmed that it was estimating a net loss of £1.3bn as a result of the four hurricanes to make US landfall this season.

Swiss Re’s landmark London offices – affectionately known as The (Erotic) Gherkin – has been awarded the UK’s premier architectural award, the Stirling Prize.

Dutch-based insurer ING Group today (18 October) announced that it is exiting its individual life reinsurance business in the US as it continues its strategy to focus on core business, and has signed a co-insurance agreement with Scottish Re to take on th

After several weeks of indifferent news, troubled Swiss reinsurer Converium received a welcome boost last Friday (15 October) with the announcement from Standard & Poor’s (S&P) that it was upgrading its insurer financial strength rating from “BBB” to “BBB

Marsh has submitted to Eliot Spitzer’s shock 14 October allegations of price-fixing by replacing its chief executive Ray Groves and revealing that it will no longer charge insurers contingent commissions, often known as Placement Service Agreements (PSAs)

As predicted by Insider Week two weeks ago (see Insider Week No.142), the campaigning New York attorney-general Eliot Spitzer is suing Marsh over its long-established practice of charging insurers commissions in return for placing business with