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UIC scheme offers unique return
Provisional liquidator Grant Thornton last month announced creditor approval for its proposed UIC Insurance Company Limited scheme of arrangement that looks set to boast the rare distinction of paying out more than 100p in the £1.
11 October 2006
Post-Spitzer scene tough for big three, says S&P
Despite paying over $1bn in settlements and foregoing contingent commissions, the post-Spitzer picture is still not “rosy” for the big three brokers, according to a report by ratings agency Standard & Poor’s (S&P).
11 October 2006
Price Forbes confirms MBO
Price Forbes Ltd, the London-based international wholesale operation owned by Marsh & McLennan Companies Inc, has been spun-out of the broking giant via a management buy-out, The Insurance Insider revealed on 21 September.
11 October 2006
Low sidecar appeal, but ART popular with London insurers, says PwC survey
Despite the growing popularity of sidecars, executives in the London market are not convinced about their merits, according to findings by PricewaterhouseCoopers (PwC) for its 2006 London Insurance Market survey.
11 October 2006
Lloyd’s proposes annual venture overhaul
Review recommends freeing up of agency agreement and sidecar-style Names’ syndicates Lloyd’s has unveiled plans to overhaul its annual venture in a bid to tackle complaints that its current structure adds costs and restricts management flexibility.
11 October 2006
Lloyd's insurers profit on underwriting
But dollar fluctuations continue to deliver mixed results to bottom line figures
11 October 2006
Brokers warn on stability of solicitors PI market
Leading brokers Marsh and Aon have highlighted concerns over a rapidly softening UK professional indemnity (PI) market.
11 October 2006
Swiss Re withdraws $500mn of retro capacity
Up to $500mn of retrocessional capacity will be withdrawn from the market following the completion of Swiss Re’s acquisition of GE Insurance Solutions earlier this year.
11 October 2006
IXIS aims to float $1bn (re)insurance fund
The French investment bank IXIS is raising funds to float a new $1bn company on London’s Alternative Investment Market (AIM) to invest in the burgeoning insurance-linked securities sector.
11 October 2006
100 not out...
This month, The Insurance Insider has two reasons to celebrate. It is not only our 100th issue – a feat in itself – but also ten years since the publication was born.
11 October 2006
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