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There are 68,798 results that match your search.68,798 results
  • 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
  • $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
  • 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
  • Converium comeback continues with profitable 2005
    Swiss reinsurer Converium announced on 15 March net income of $68.7mn for 2005, with $34.2mn added to the total during the final quarter. The fourth quarter figure beat some analyst’s forecasts by close to $30mn, and provided a solid start for the...
    20 March 2006
  • Independent due in court
    A preliminary hearing at Southwark Crown Court on Friday 24 March is expected to set the trial date for three former directors Independent Insurance who are charged with conspiracy to defraud. As stated by the Serious Fraud Office, former chairman...
    20 March 2006
  • HIH fails in film finance trial
    Defunct Australian insurer HIH’s film finance action against its broker JLT Risk Solutions has ended with its claim being dismissed on 15 March. Despite Mr Justice Langley finding that JLT was in breach of its duty as a broker, he concluded...
    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
  • Brit parts company with adviser; reserve release allow 2005 profit
    UK Insurer Brit Insurance Holdings plc has replaced house broker Cenkos Securities Ltd with Citigroup while unveiling a 2005 profit created by an unexpectedly high release from prior-year reserves. In an eventful 15 March announcement, the insurer...
    20 March 2006
  • Charges hit AIG’s fourth quarter profits
    The weight of over $2bn in two major fourth quarter charges sent American International Group’s (AIG) net income plummeting by 72 percent, it reported on 16 March. AIG reported net income of $444mn for the quarter after it settled with regulators for..
    20 March 2006
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