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  • Despite increasing asbestos reserves by another £128mn in the year to 31 March 2006, Lloyd's pre-1993 run-off vehicle Equitas highlighted its progress in resolving claims with major policyholders as it released its financial results last Tuesday (6 June).
  • The run-off acquisitions firm LCL Acquisitions Ltd has completed its ownership of the Isle of Man insurance administration firm FIT Administration (IoM) Ltd. LCL - which was itself acquired by the London Stock Exchange quoted...
  • Broking giant Aon swiftly filed a notice of appeal in a US district court, after a federal judge upheld a jury verdict for United National Insurance Company (UNIC) in a reinsurance spat.
  • The US-based National Association of Insurance Commissioners (NAIC) has strongly objected to what it describes as "unnecessary" federal preemption of state authority proposed in a draft health reform bill.
  • Aon's senior executives will now be in line for a substantial pay-off, if there is a change of control in the company.
  • Insurance giant American International Group (AIG) is facing a lawsuit from Minnesota attorney general Mike Hatch, raising the spectre of further action from states dissatisfied with AIG’s recent $1.6bn payout. Hatch is seeking up to $10mn...
  • The UK’s Competition Commission have ratified their decision to approve the acquisition of CBS Private Capital by rival Hampden Agencies Ltd.
  • US insurer Chubb has raised doubts about its commitment to the London market with the news that it has sold its stake in Hiscox.
  • Out of court settlements appear to be close in the £80m fraud trial between Cable & Wireless and former employees of its defunct captive insurer Pender Insurance. The case met for a ‘mention’ at the High Court on 12 January and has been scheduled...
  • Despite increasing asbestos reserves by another £128mn in the year to 31 March 2006, Lloyd’s pre-1993 run-off vehicle Equitas highlighted its progress in resolving claims with major policyholders as it released its financial results this morning (6 June).