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California blues as State Fund sues Commissioner
The long-running acrimony between California’s insurance regulators and the State Compensation Insurance Fund (SCIF) took a turn for the worse last week when the Fund filed a lawsuit against the newly elected Commissioner John Garamendi to prevent his “il
02 June 2003
Storms rallies troops at broking giant following difficult year
Marsh Inc’s new chief executive Brian Storms will spend much of the next month on the road as he travels across the globe to meet his business heads and rally the broking giant’s troops. The former Mercer Human Resource Consulting chief executive...
23 January 2006
PXRE loses two-thirds of business
Besieged Bermudian reinsurer PXRE Group Ltd today (10 May) reported that it has lost two-thirds of its business following its recent troubles.
10 May 2006
Six charged on Executive Life fraud
Pinault receives fine in return for immunity; Peyrelevade and five others left out in the cold
22 December 2003
IUA members grow premiums
London’s company market insurers have expanded their underwriting exposures in the wake of the improved rating environment, according to figures released from the representative body, the International Underwriting Association.
18 August 2003
Halliburton and Equitas reach $575mn asbestos settlement
US engineering firm Halliburton has announced a $575mn (£317mn) settlement of its asbestos exposures with Equitas, the reinsurer established by Lloyd's in 1996 as a run-off vehicle for its pre-1993 liabilities.
02 February 2004
Hiscox shares up on bullish trading statement
UK insurer Hiscox has seen its share price rise by almost five percent this morning (28 July) on the back of a bullish trading statement.
28 July 2005
Fitch Affirms Brit rating
Ratings agency Fitch has affirmed insurer Brit’s “A” financial strength rating, with a positive outlook, after the firm announced a capital reorganisation.
26 January 2004
Levene announces 3yr strategic plan
Lord Levene used his ‘Chairman’s View’ lecture to the Insurance Institute of London speech at Lloyd’s on 24 November to announce a three-year strategic plan for market reform to be published next January. The chairman also used his lecture to warn the...
28 November 2005
Former HIH directors face prospect of criminal prosecutions
The scope of blame over HIH widened last week as lawyers for the Australian Royal Commission began their summing up into the insurer's collapse, outlining more than 1,000 alleged breaches of the law. Senior HIH executives face possible criminal charges
01 January 2003
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