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  • UK reinsurer Benfield has announced the sale of its holding in Benfield Sports International (BSI), a sports marketing consultancy.
  • Marsh & McLennan Companies (MMC), parent of the world’s largest broker Marsh, shrugged off the furore surrounding its troubled investment arm Putnam to announce strong operating results for the fourth quarter and year ending 31 December 2003.
  • As Europe braces itself for a potential influenza pandemic, broker Aon warned today (17 October) that businesses remain unprepared for “the greatest threat facing their business today” and called on companies to “take action to protect their performance”.
  • Lloyd’s insurer Highway released a statement to the London Stock Exchange last week in a bid to clarify its position on alleged over-reserving on Syndicate 37 and Syndicate 2037.
  • Industry legend Hank Greenberg and his Starr companies have sold over 27 million shares in his former company, American International Group (AIG), since May.
  • The legacy sector is eagerly awaiting news on Travelers’ decision over the sale of its UK-based long-tail run-off business, Unionamerica Insurance Company, which attracted a frenzy of potential buying interest over the summer.
  • Berkshire Hathaway confirmed last week that its reinsurance arm General Re has received a request from the Securities and Exchange Commission for information relating to its sale of “non-traditional or loss mitigation insurance products”.
  • Guy Carpenter has hired one the senior management team from winding down reinsurance broker RK Carvill with the appointment of Bobby Marsden to its executive sales group.
  • Bermudian (re)insurer ACE Ltd leads the cover on the passenger plane that swerved off the runway in Madrid killing more than 150 people, The Insurance Insider understands.
  • UK motor insurer Cox Insurance Holdings has received a number of bid approaches, the company confirmed yesterday.