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TRIA extension approved by Senate
US politicians brought some relief to the (re)insurance industry on Friday (18 November) with the news that the US Senate had approved a bill to extend the Terrorism Risk Insurance Act (TRIA) for a further two years until the end of 2007.
21 November 2005
Rise in revenue pushes Aon’s profits
A significant rise in revenues boosted Aon Corp’s first quarter 2008 profits, the broker revealed yesterday (1May).
02 May 2008
London market welcomes contract documentation initiative
Key parties in the London market, including the London Market Association (LMA), and the G6 have welcomed Lloyd's CEO Richard Ward's contract documentation initiative, which was announced on 22 May.
12 June 2006
Swiss Re stock stumbles on health and life figures
Shares in Swiss Re fell today after the reinsurer failed to meet analysts’ forecasts in its 2003 life and health results.
17 May 2004
White Mountains forms latest Bermudian sidecar Helicon
White Mountains Insurance Group has become the fourth (re)insurer to announce the formation of a Bermudian sidecar vehicle following last year’s US storm losses. Helicon will sit alongside the Bermudian reinsurer Olympus Re in writing up to...
17 February 2006
Wellington armed with new £120mn credit facility
Ten days after Lloyd’s insurer SVB announced a £50mn convertible bond and a shift away from Letter of Credit (LOC) financing, rival Wellington Underwriting said it had secured a new credit facility of £120mn with a group of banks.
01 December 2003
Argo to buy Heritage in £136mn deal
Bermudian Argo Group International Holdings Ltd has agreed a 154p a share cash offer to buy Heritage Underwriting Agency plc in a deal that values the Lloyd’s insurer at £136mn on an ex-dividend basis.
02 April 2008
New York AG sues E&Y over Lehman audits
New York Attorney General Andrew Cuomo has filed a suit against Ernst & Young (E&Y) alleging that the "big four" accountancy firm assisted collapsed bank Lehman Brothers in defrauding its shareholders.
05 January 2011
Ohio sues MMC and insurers in Spitzer fallout
The Spitzer fallout continues for Marsh & McLennan Cos (MMC) with the filing of an anti-trust lawsuit by the state of Ohio against the world's largest broker, along with American International Group and three other insurers.
28 August 2007
Allianz projects 40 percent drop in Q1 operating profit
German insurance giant Allianz says it expects to post a drop in first quarter operating profit of EUR900mn to EUR1.3bn compared to the same period in 2008.
01 May 2009
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