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Order granting Silverstein leave to appeal summary judgment
2002: Order granting Silverstein leave to appeal summary judgment
26 April 2005
Silverstein complaint against ACE and XL over WTC exposures
2001: Silverstein complaint against ACE and XL over WTC exposures (later settled)
26 April 2005
Zurich Specialties ratings downgrade
Zurich Specialties London Limited (ZSL), the London arm of Zurich Financial Services (ZFS), has had its financial strength rating cut from A to B++ with a negative outlook by AM Best as a result of its exit from several lines of business and falling gross
25 April 2005
WFG Capital: ‘escalating decline in organic revenue’ hits brokers
The broking industry continues to report an “escalating decline in organic revenue”, according to the latest research from investment bank WFG Capital Advisors LP.
25 April 2005
US private equity firm eyes Gerling takeover
The US buy-out firm Cerberus Capital Management is conducting due diligence into Gerling with a view to buying the German insurer, according to reports.
25 April 2005
Carvill replaces Carlier with joint chief executives
RK Carvill acted swiftly to replace the departed Ron Carlier by promoting John Cavanagh and David Thomas as joint chief executives of the reinsurance broker last week.
25 April 2005
Plumeri ignites contingent commission furore following RIMS speech
Willis’ larger-than-life CEO Joe Plumeri ignited a war of words in the US last week over the use of contingent commissions. As the keynote speaker at last week’s Risk & Insurance Management Society (RIMS) conference in Philadelphia, Plumeri complained
25 April 2005
Hannover Re gets Moody’s upgrade
German reinsurer Hannover Re has had its insurance financial strength and debt ratings upgraded from Baa1 to A3 and Ba1 to Baa2 respectively with a stable outlook by rating agency Moody’s Investors Service.
25 April 2005
Cazenove down on Benfield
Investment bank Cazenove issued a downbeat note on reinsurance broker Benfield Group last week following the arrival of former JLT chief executive Steve McGill and the decision to expand its business into the primary markets.
25 April 2005
Aon PA WTC dispute settled in favour of London Market reinsurers
The Aon WTC personal accident dispute has been settled in favour of the London Market reinsurers, according to a judgement released on 21 April. As reported in the March edition of The Insurance Insider, the case came to the Royal Courts of Justice aft
25 April 2005
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