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  • Lloyd’s CEO Nick Prettejohn issued a stringent call for the UK’s Financial Services Authority (FSA) to take a more active role in preventing conflicts of interest caused by undisclosed broker commissions.
  • The future of Trenwick's Lloyd's operations was given a boost by the news that Berkshire Hathaway will increase its support for the 2003 year.
  • World’s largest reinsurer Munich Re made a solid if unspectacular start to its 125th anniversary year with the announcement of EUR1.8bn 2004 profit, marking the mid-point of its own projected range of EUR1.7bn to EUR1.9bn – lowered after an associated com
  • Faced by a softening product market, US retail brokers are increasingly turning to aggressive acquisition strategies to achieve revenue and profit goals, according to the latest report from investment banking firm WFG Capital Advisors.
  • Confirmation of the steep rise in catastrophe exposed reinsurance came from Guy Carpenter & Co which revealed that rates have increased this year by 76 percent in the US and 129 percent in Mexico.
  • US regulator the Securities and Exchange Commission (SEC) has dropped its federal probe into Joseph Cassano, the former head of American International Group (AIG)'s blighted London-based Financial Products division (AIGFP), it emerged last week.
  • American International Group chairman Hank Greenberg will formally part company with the insurance giant this week – only two weeks after agreeing to step down as the company chief executive.
  • Europe's largest insurer, Allianz, has added to the flurry of first quarter cat bonds after combining with Aon Benfield and Goldman Sachs to issue the $150mn US wind and quake bond Blue Fin II.
  • Michael Wade is raising capital for a new reinsurance venture that, if successful, would see the veteran Lloyd's figure return once again to the London market. Wade is working in conjunction with UBS - the investment bank which is currently...
  • Followers of US tort reform developments were teased last week with the prospect of a real breakthrough, as Republican Senator Bill Frist stepped in to rescue stalling asbestos talks, negotiating a new deal between insurers and industrial defendants over