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  • Following his targeting of uber broker Marsh for its use of PSAs (see Insider Week passim), New York attorney-general Eliot Spitzer has now set his sights on another Marsh & McLennan (MMC) subsidiary, namely Mercer Human Resource Consulting.
  • Quoted Lloyd’s insurer Hardy has announced that it will form a new non-marine syndicate for 2007, which will be led by Clal Insurance Syndicate 1301 underwriter Patrick Gage.
  • Troubled Australian insurance group IAG has confirmed it is placing its Singapore-based Lloyd’s Syndicate 4455 into run-off and will also close its London-based Lloyd’s managing agent Diagonal.
  • Lloyd’s insurer SVB continued its upbeat recovery message last Wednesday (24 March) as it reported 2003 pre-tax profits of £17.8mn, or 3.8p a share, up from £10.1mn in 2002.
  • AIG will book a technical loss of $1.4bn on the sale of its 97.57 percent share in leading Taiwanese life insurer Nan Shan Life Insurance Compan, it unveiled on 12 October.
  • UK insurer Brit last week laid out the timetable for its redomicile to the Netherlands - a reorganisation that is expected to see a new holding company listed on the London Stock Exchange on 21 December.
  • The UK P&I Club, which is a member of the International Group of marine liability mutuals, has announced a restructure in advance of Solvency II that will establish its European subsidiary as the sole provider of direct insurance to UK Club members.
  • Warren Buffett's Berkshire Hathaway may sue former executive David Sokol for failing to disclose his financial interest in Lubrizol before recommending the firm bought it.
  • Ratings agency Standard & Poor's has put a negative outlook on Japan's long-term credit rating due to concerns about rebuilding costs after the March 11 earthquake and tsunami.
  • Jardine Lloyd Thomson Group plc is in talks to buy its smaller rival, the resurgent Heath Lambert Group, in a move which might spark another round of broker consolidation fever, according to sources.