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MMC rewards senior staff
Steering Marsh and McLennan Companies (MMC) through the difficult post-Spitzer years has led to rich rewards for the company's president and chief executive Michael Cherkasky, who received total compensation valued at $8.65mn last year.
05 April 2007
Hannover Re to grow on large Praetorian windfall
Hannover Re is planning growth in US property catastrophe business as it builds on record 2006 profits and redeploys capital freed up by the $800mn sale of its Praetorian subsidiary to QBE Insurance Group Ltd.
05 April 2007
QBE bond ‘fraud’ trial set for November
QBE Limit and Markel are set for a November High Court showdown with broker Surety Guarantee Consultants Ltd (SGC) over allegations of fraud in connection with construction bonds it issued as a coverholder.
05 April 2007
Lloyd’s closes on S&P upgrade
Following Fitch Ratings' move to upgrade its insurance financial rating on Lloyd's to A+ as the first phase of the Equitas deal closed, industry-watchers will be waiting to see if rival Standard & Poor’s (S&P) follows suit.
05 April 2007
Guy Carpenter looks to ‘rationalise’ pricing with Select Cat
Last month's SelectCat launch by Guy Carpenter was the latest in a line of index-based offerings to hit the market as brokers look to create alternative capacity for property catastrophe reinsurance risk.
05 April 2007
Trading high: London out trades Bermuda
As the exodus of Lloyd's insurers to Bermuda has gathered pace, anecdotal evidence continues to suggest interest from Bermudians in making the opposite journey across the Atlantic.
05 April 2007
PXRE: questions remain despite new dawn
If, as expected, its proposed reverse merger deal with Argonaut Group successfully concludes this summer, Bermudian reinsurer PXRE will have completed a remarkable turnaround.
05 April 2007
Lloyd’s set to unveil new China platform
An opening ceremony, hosted by the Lloyd's chairman Lord Levene, will be held in Shanghai on 16 April to launch the Society's new Chinese onshore reinsurance operation.
05 April 2007
Comment: Replacing Rolf
In 2003, when Rolf Tolle joined Lloyd's as its first Franchise Performance director, the market was still in remission following the devastation of the World Trade Center losses and the enervating casualty losses of the late nineties.
05 April 2007
LEGAL BRIEFINGS
Our monthly column keeping check on US and EU legal and regulatory developments, in association with Sidley Austin LLP
05 April 2007
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