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Ex-Marsh duo guilty of bid-rigging
Two of the leading enforcers of Marsh's contingent commissions during the heyday of so-called Placement Service Agreements (PSAs) were found guilty last week of taking part in bid-rigging.
25 February 2008
Lloyd's start-up in XL reinsurance deal
Start-up Lloyd's Syndicate 2008 has completed its first reinsurance to close (RITC) deal with the closure of the notorious 2001 account on XL Insurance syndicates 861 and 588.
25 February 2008
Fears grow over further Swiss Re credit exposures
After last year's SFr1.2bn write down of credit swaps, analysts have speculated that Swiss Re could face further losses from sub-prime and credit market exposure ahead of the group’s results due out this Friday.
25 February 2008
Aon takes Gallagher Re business in $38mn+ deal; Singapore MBO
Aon Corp has bought Chicago neighbour AJ Gallagher & Co's (AJG) reinsurance arm Gallagher Re - in a move first predicted by The Insurance Insider.
25 February 2008
Levene looks to Parliament for third term
The Council of Lloyd's has invited chairman Lord Peter Levene to remain at the Corporation for an unprecedented third term.
25 February 2008
Munich Re beats profit target despite higher combined ratio
Munich Re beat its increased profit projections for 2007 as it booked a consolidated result of EUR3.9bn for the year, up 11.9 percent on 2006.
25 February 2008
Jury change delays Gen Re verdict
A change to the jury last week has caused a delay in reaching a verdict in the trial of Gen Re and American International Group (AIG) executives over an allegedly sham finite reinsurance contract.
25 February 2008
Record profit for 'conservative' HCC
US insurer HCC Insurance Holdings Inc's conservative business plan and investment strategy saw it reach a record profit for 2007 while steering clear of sub-prime woes.
25 February 2008
Groupama prepares for IPO
French mutual Groupama SA has completed its preparations for an initial public offering (IPO), which would take place if an opportunity to make a major acquisition should arise, it revealed in its 2007 results.
25 February 2008
Low cat claims boost FM Global's results
Commercial property insurer FM Global has seen 2007 net income jump by 26 percent to $928mn defying increased competition in the market.
25 February 2008
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