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Greenberg’s stock transfer unlikely to shield assets
According to reports in the US, ousted American International Group (AIG) chief Maurice “Hank” Greenberg’s “gift” of almost all of his $2.3bn stock in the company may not be enough to shield his investment from future lawsuits.
18 April 2005
Glacier Re appointments
Swiss start-up reinsurer Glacier Re continued its expansion with the appointment of Oliver Wirtzfeld as senior underwriter and Cinzia Muggiasca Ahr as financial controller as of 1 April 2005.
18 April 2005
Terrorism risk rises in 2005
World’s second largest broker Aon has revised its annual Terrorism Risk map to reflect an increase in the risk of terrorism across the globe.
18 April 2005
RK Carvill departs company with Carlier
Ron Carlier, the colourful group chief executive of RK Carvill & Co, has unexpectedly left the reinsurance broker, Insider Week can reveal. In a 14 April statement, the broker confirmed that: “Effective immediately Ron Carlier has resigned as Group chi
18 April 2005
Levene looks to build customer confidence
Lord Levene is set to call for measures to restore confidence in the insurance industry tonight. Speaking to business leaders at the Philadelphia Club in the US, the Lloyd’s chairman will say the industry needs to eliminate conflicts of interest, work
18 April 2005
Integer announces second Scheme of Arrangement plan
The Lloyd’s Names’ stop loss mutual Integer has announced a second proposal for a scheme of arrangement, with the aim of distributing its £9mn assets to the Lloyd’s members who bought stop-loss reinsurance polices from the company in the late nineties.
11 April 2005
Trading in Omega shares begin
Omega Underwriting Holdings Plc became the latest Lloyd’s insurer to become publicly listed when trading began in its shares on the London Stock Exchange’s Alternative Investment Market last week.
11 April 2005
Spitzer issues more subpoenas to RenaissanceRe and Partner Re over MBIA probe
Specialist Bermudian reinsurers RenaissanceRe Holdings Ltd and PartnerRe Ltd received another round of subpoenas from US regulators last week. The New York Attorney General Eliot Spitzer and the Securities & Exchange Commission are requesting informati
11 April 2005
Broking roll call of shame extends to Willis
As with Eliot Spitzer’s investigations into MMC and Aon Corp, the Willis settlement has exposed shameful allegations of practices designed to maximise revenues at the expense of client interests. In its settlement document – agreed by the parties on th
11 April 2005
The Insurance Insider 2005 London market survey
Contract certainty has finally become a "hot" industry subject. Indeed, while market practitioners have long-criticised the industry's inability to consistently issue policy wordings on time, more recently regulators on both sides of the Atlantic have bec
11 April 2005
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