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Willis looks to redomicile in Ireland
Global broker Willis has decided to change the domicile of its group holding company from Bermuda to Ireland.
21 September 2009
Levene attacks anti-competitive rhetoric
Lord Peter Levene, chairman of Lloyd's, has lambasted those who question whether the competitiveness of the City should take precedence in the UK, insisting it is "an absolute priority".
18 September 2009
Buffett declined to buy $25bn AIG P&C operation
Warren Buffett passed on the chance to buy a "very large" property and casualty (P&C) operation valued at some $25bn from AIG, just as the biggest waves of the financial crisis were breaking this time last year.
16 September 2009
Legacy industry debates ramifications of Scottish Lion ruling
Scottish judge Lord Glennie's comments on the fundamental issue of fairness effectively halted the Scottish Lion solvent scheme of arrangement and could block progress on schemes currently in the pipeline, according to industry experts.
16 September 2009
Willis to settle last PA spiral suit for $130mn
Global broker Willis has announced that its E&O insurers are to disburse $130mn to settle the last of the lawsuits arising from its involvement in the infamous London Market personal accident (PA) reinsurance spiral of the late 1990s.
15 September 2009
ABI survey pushes UK govt on tax
Eighty-one percent of UK insurance executives feel that if the UK Government fails to improve tax competitiveness, there will be a drop in the number of insurance firms based in Britain. This was the finding of a survey of 75 UK insurance industry leaders
15 September 2009
Final Finite Re scandal exec gets probation
The seventh and final executive convicted over a fraudulent $500mn reinsurance deal that misled investors about American International Group’s (AIG) financial health has been sentenced to two years probation and fined $10,000.
15 September 2009
Fitch goes negative on Novae subsidiary
Ratings agency Fitch has changed its outlook on Novae Group’s UK FSA authorised insurance subsidiary, Novae Insurance Company Limited (NICL), to negative from stable...
15 September 2009
Argo plans new MAT division at Lloyd's
Argo International is planning to launch a new Marine, Aviation and Transport (MAT) division at Lloyd's in the latter half of 2010, our sister publication Inside FAC revealed last week.
14 September 2009
D&O continues to defy rate hike expectations
A year ago there was a broad consensus within the industry that directors and officers (D&O) rates would stiffen this year, as recessionary and financial losses swept through the sector...
14 September 2009
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