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There are 68,797 results that match your search.68,797 results
  • FSA shows ‘good faith’ on contract certainty goal
    UK regulator the Financial Services Authority (FSA) has recognised progress in pursuit of contract certainty by putting on hold work to develop rules it threatened to impose if the London market failed to meet the deadline set for the end of the 2006.
    20 March 2006
  • AWAC files for $400mn IPO
    As predicted in the January issue of our sister title The Insurance Insider, Allied World Assurance Holdings Ltd (AWAC) is set to become the last of the so-called “Class of 2001” to go public after filing for an initial public offering (IPO) of up to...
    20 March 2006
  • Chinese bank signs up Willis as risk manager
    Willis has signed an agreement with the China Development Bank (CDB) that will see it become the bank’s global risk management and insurance consultant. The move is another big step for Willis as it moves into the Chinese insurance market. The firm...
    20 March 2006
  • US tort costs hit $260bn in 2004
    US tort costs reached a record level of $260bn during 2004 according to research by Tillinghast’s US Tort Costs and Cross-Border Perspectives: 2005 Update. The figure is up from the previous record of $244bn set in 2004 and averages out at...
    20 March 2006
  • Aon PLF: P&I renewal “successful”
    Despite fears of a difficult 2006 renewal for the International Group of P&I clubs with predicted 20 percent plus rises in reinsurance as the programme was hit by hurricanes and shipping accidents, the reality was much more benign, according to broker...
    20 March 2006
  • Tropical cyclone hits north-eastern Australia
    Tropical Cyclone Larry slammed into north-eastern Australia early today (20 March) causing damage to buildings and crops. Larry made landfall as Category 5 storm, the maximum grading, near the town of Innisfail, Queensland, and was downgraded to a...
    20 March 2006
  • $300mn credit for Validus
    Bermudian start-up reinsurer Validus has announced it is entering into a $300mn syndicated credit agreement. The transaction consists of a $100mn Senior Unsecured 364-Day Revolving Credit Facility and a $200mn Senior Secured Three-Year Letter of...
    20 March 2006
  • XL Re Life enters US
    XL Re Life, the life reinsurance arm of Bermudian XL Capital, is moving into the US market with the acquisition of Servus Life Insurance Company. The (re)insurer will operate in the States under the name XL Re Life America, offering reinsurance...
    20 March 2006
  • Duty of care under spotlight after Aon’s defeat
    Aon has lost its $80mn court case with oil company BP in a judgment that could have wider implications for sub-broking arrangements. Mr Justice Colman ruled in the case of BP v Aon and another that Aon had breached its duty of care to the oil company..
    20 March 2006
  • Investments keep Chaucer in the black
    Chaucer became the latest Lloyd’s insurer to make an underwriting loss because of last year’s storms, but post a profit thanks to its investments when it reported its 2005 results on 17 March. Hurricane losses of £68.5mn caused the insurer to fall to..
    20 March 2006
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