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Utley consortium closes on Cox buy
Following months of speculation, Lloyd’s motor specialist Cox Insurance Holdings announced on 16 March that it has reached a provisional agreement with a consortium led by ousted CEO Neil Utley to buy the company.
21 March 2005
Fox on leave of absence
Rod Fox, CEO of reinsurance broker Benfield’s US division, has been “granted a leave of absence for personal reasons”, according to a London Stock Exchange announcement last week.
21 March 2005
People moves at Glencairn
Broker Glencairn has announced the appointment of Steve Hearn to the role of chairman in addition to his current role as chief executive.
21 March 2005
Allianz shows strength as Dresdner revival continues
German giant insurer Allianz reported a strong set of 2004 results last Thursday (17 March), prompting ratings agency Fitch to upgrade the company and its subsidiary Dresdner Bank.
21 March 2005
Swiss Re expects to continue earnings ascent
World number two reinsurer Swiss Re announced profits up from SFr1.7bn to SFr2.5bn last Thursday (17 March), as it committed to earnings growth through the insurance cycle, targeting 10 percent a year increases in earnings per share.
21 March 2005
ICAP founder joins Oxygen
As reported in the March issue of The Insurance Insider, City grandee Michael Spencer has joined the board of London market start-up Oxygen Holdings plc.
21 March 2005
Legacy haunts SVB
2004 proved to be another difficult year for Lloyd’s insurer SVB as continued promise in the turnaround of its ongoing business was once again overshadowed by the legacy of its past.
21 March 2005
Beazley sees good conditions, prepares for downturn
Lloyd’s listed insurer Beazley spoke of market conditions that remain “pretty good” as it announced 2004 profits that almost doubled from £17.1mn to £33.4mn, and earnings per share up from 5.0p to 9.3p year-on-year – despite its managed syndicates being h
21 March 2005
Heath’s model adds to remuneration debate
In a move set to add to an already mixed picture of new broker models, Heath Lambert has today published its own system of payment for work carried out on behalf of insurance companies. Using what it describes as its Broker Insurer Services Commission (BI
21 March 2005
AIG finite investigation gathers momentum
Greenberg’s gone but, with 10-K delay, is more bad news imminent?
21 March 2005
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