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Ren Re: management mea culpa over Inter-Ocean reinsurance contract
Bermuda’s Renaissance Re, one of the industry’s most admired reinsurance companies, has admitted its senior management made mistakes in accounting for a finite reinsurance transaction in its delayed Securities & Exchange Commission 10-K filing.
04 April 2005
Libor scandal banks face billions in settlements and fines: Morgan Stanley
Eleven global banks linked to the Libor rate-fixing scandal could face more than $15bn in aggregate regulatory fines and settlement of litigation brought by investors and counterparties, according to estimates from Morgan Stanley.
14 July 2012
UK-based auditors take comfort in Moore Stephens judgment
The UK House of Lords struck out a claim that accountancy firm Moore Stephens was liable for a failure to unearth an $89mn fraud at a commodity trader that it audited.
11 August 2009
Broker cost cutting takes gloss of revenue growth
Giant Marsh & McLennan Companies, which was due to report as The Insurance Insider goes to press, has a tough act to follow with its two main broking rivals Aon Corp and Willis Group booking Q1 revenue growth despite...
06 May 2008
Aon PA WTC dispute settled in favour of London Market reinsurers
Case turns on definition of "authorised business trip" clause. The Aon WTC personal accident dispute has been settled in favour of the London Market reinsurers, according to a judgement released this morning.
22 April 2005
The Hartford beats analysts’ consensus
US property casualty giant The Hartford preannounced a higher than expected set of fourth quarter results last Wednesday (14 January) with an 8-K SEC filing.
19 January 2004
Cox paints rosy picture
After rival specialist motor insurer Highway painted a gloomy picture of underwriting prospects, along came Cox with an upbeat message, consensus beating interims and a combined ratio of only 86 percent.
22 September 2003
Alea CEO to step down
Alea Group chief executive Mark Cloutier will step down next year, the run-off (re)insurer confirmed last week (24 April).
27 April 2009
Hardy boosts 2005 forecast
Lloyd’s insurer Hardy Underwriting announced an improved forecast for the 2005 year of account of its managed Syndicate 382 on 29 November.
04 December 2006
Munich Re sees more hardening, to avoid recession-exposed classes
Global reinsurer Munich Re has said it sees the reinsurance market continuing to harden, but will lower exposure to business segments that were “particularly exposed to the recession”.
03 March 2009
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