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ACE restates following finite risk investigation
ACE Ltd is restating its financial results for the last five years after an internal investigation discovered that eight finite risk contracts have been accounted for incorrectly.
25 July 2005
Senate bid from Safeco CEO
Seattle headquartered property/casualty insurer Safeco has announced that Mike McGavick, its chairman and CEO, will step down in August to enter politics.
25 July 2005
Benign loss history bolsters Allstate in Q2
Allstate Corporation, the second largest property and casualty insurer in the US, has beaten consensus forecasts to post an 11 percent increase in Q2 2005 earnings, helped by benign catastrophe losses and strong premium growth.
25 July 2005
Artemis to appeal $700mn damages award over Executive Life
A Federal jury ruled last week that Artemis SA – the holding company of French billionaire Francois Pinault – should pay $700mn over its role in the Executive Life scandal.
25 July 2005
SEC to pursue civil enforcement action against RenRe chief executive
RenaissanceRe’s shares fell more than 6 percent in early trading today (25 July) after the company revealed that the Securities & Exchange Commission (SEC) intends to bring a civil enforcement action against the reinsurer’s chairman and chief executive...
25 July 2005
Solvent schemes suffer setback in High Court ruling
Users of solvent schemes of arrangement as a solution to discontinued business suffered a setback last Thursday (21 July) when a High Court judge refused to sanction a scheme for the British Aviation Insurance Company (BAIC).
25 July 2005
Aon wins prestigious Exxon Mobil account
Aon is thought to have won part of the prestigious Exxon Mobil account from its rival Marsh, according to sources.
25 July 2005
Hannover Re silent on Fitch rating
Hannover Re has not always welcomed unsolicited financial strength ratings, but there was no comment from the German reinsurer last week following Fitch Ratings’ decision to assign an A+ to the company.
25 July 2005
QBE correction over European merger
In the July edition of The Insurance Insider we incorrectly say that QBE’s European Commercial division and its European Retail division were to merge to create a single Dublin based operation.
25 July 2005
Marsh promotes Mina to head of international client services
Patrick Mina, the current head of Client and Market Services in the UK, has been appointed to the newly created role of Head of International Client and Market Services.
25 July 2005
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