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No end to finite investigations with more subpoenas
Another batch of subpoenas were issued by US regulators last week to US and Bermudian (re)insurers over the potential abuse of finite reinsurance products.
20 June 2005
Merger talks continue despite Hardy rejecting Omega approach
Fellow Lloyd’s insurers Hardy Underwriting Group plc and Omega Underwriting Holdings plc remain in merger talks despite the failure of two approaches.
20 June 2005
Senior Lloyd’s figure resigns
Jeremy Pinchin, the head of Reinsurance and Claims at the Society and a senior member of the Franchise Performance directorate, has resigned from Lloyd’s.
16 June 2005
New chief claims officer for ZFS
Switzerland based (re)insurer Zurich Financial Services (ZFS) has appointed Jane Tutoki as its new group chief claims officer for the general insurance business.
13 June 2005
ALM welcomes English LLPs
The Association of Lloyd’s Members welcomed the possible arrival of English Limited Liability Partnerships as an alternative investment vehicle for private Lloyd’s investors at its national conference last week.
13 June 2005
Benfield shares fall as it warns on 2005 profits
Reinsurance broker Benfield Group has warned that 2005 profits will be lower than last year because of an increasing cost base.
13 June 2005
FBI focuses on insurance fraud
The FBI has placed insurance fraud high on its agenda because of the size of the industry, according to its 2005 Financial Crimes Report released last month.
13 June 2005
AM Best upgrades QBE London operation
Ratings agency AM Best has upgraded the financial strength rating of London (re)insurer QBE to "A" (Excellent) from "A-" (Excellent) and the company's issuer credit rating to "a+" from "a-", citing a stable outlook for both ratings.
13 June 2005
Smith follows Greenberg out of boardroom door
American International Group (AIG) disclosed last week that Howard I Smith, the company's former chief financial officer, has resigned from its board.
13 June 2005
Wellington AGM statement shrugs off market softening
A positive trading update from Lloyd’s (re)insurer Wellington was enough to give the company’s share price a small fillip to close up 4.61 percent at 107.75p Wednesday last week.
13 June 2005
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