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Return of kidnap broker causes alarm
Andrew Askham, a colourful kidnap and ransom broker, is attempting a return into the London market The recent attempt by a colourful kidnap and ransom (K + R) broker to return to the London market has set alarm bells ringing on Lime Street.
15 March 2006
Xchanging alert to contract certainty with fresh initiatives
Despite the demise of Kinnect, London’s back-office provider Xchanging is continuing to develop initiatives to help the market’s insurers reach the contract certainty targets agreed with the Financial Services Authority.
15 March 2006
Lloyd’s confirms Ward as new chief executive
As first revealed by The Insurance Insider on 6 February, Lloyd’s has chosen the former head of the International Petroleum Exchange (IPE) Dr Richard Ward as its next chief executive following the departure of Nick Prettejohn at the end of last year.
15 March 2006
Foreman steps down; consolidation speculation steps up
Months after Lloyd’s insurer Wellington Underwriting plc stunned shareholders with two loss updates in the space of ten days came the announcement that its chief underwriting officer David Foreman was to retire.
15 March 2006
PXRE looks to Lloyd's for salvation
Hurricane-decimated Bermudian in talks to transfer ongoing business after downgrades. Embattled Bermudian reinsurer PXRE Group Ltd is pinning its hopes on Lloyd’s as part of a rescue plan that could see the group transfer its ongoing business to...
15 March 2006
FAIR will not end asbestos nightmare
Attendees at the ARC Congress were given a stark warning over asbestos liabilities by lawyer David Gross of US firm Saiber Schlesinger Satz & Goldstein. Giving a presentation entitled “Toujour Asbestos: Will we ever be free of it?” Gross gave the...
15 March 2006
Starr wars: Hank strikes back over report access
The last month has seen several developments in the protracted and increasingly acrimonious divorce proceedings between American International Group (AIG) and the company's former chief executive Maurice “Hank” Greenberg.
15 March 2006
Marsh UK scraps final salary pension scheme
Supplementary benefits withdrawn for all but highest earners. Marsh UK is in the process of scrapping its final salary pension scheme for its staff and ceasing supplementary benefits for all but the highest earners, our sister title Insider Week...
15 March 2006
JLT denies sale status as profits fall
When, without prompting, Jardine Lloyd Thompson Group plc’s (JLT) new chief executive Dominic Burke volunteered: “I passionately believe in the independence of JLT”, it begged the question: “Who was suggesting otherwise?”
15 March 2006
ZFS reveals record results
Swiss giant Zurich Financial Services (ZFS) reported a strident set of 2005 figures on 16 February, delivering record operating profit of $3.95bn – a 32 percent rise on 2004.
15 March 2006
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