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Equitas doubts remain after £296mn asbestos reserve boost
Charge signals further hits for industry, while doubts remain over run-off reinsurer’s health Equitas announced its annual results for the year ended 31 March 2004 last Tuesday (8 June), revealing a £296mn increase in gross discounted reserves for asb
14 June 2004
Class Action Reform hopes die in Senate floor farce
Despite cautious optimism that class action reform legislation might finally make it to the statute book, the Class Action Fairness Act went the same way as other recent tort reform initiatives as it died on the Senate floor last Thursday (8 July).
12 July 2004
Tony Taylor leaves Aspen
Tony Taylor, the founding chief executive of Bermudian reinsurer Montpelier Re, has resigned from the board of Aspen following the latter’s flotation on the New York Stock Exchange.
26 January 2004
AIG restructure muddies succession issue
The promotion of Donald Kanak as AIG’s joint vice chairman and co-chief operating officer has muddied the succession issue of Maurice “Hank” Greenberg, the septuagenarian patriarch of the world’s most valuable insurance company.
08 December 2003
Reinsureds at risk from misrepresentation
A recent UK High Court decision has outlined the dangers to reinsureds of making misrepresentations to their reinsurers either directly or through a broker.
06 December 2007
Equitas fears US tort reform may increase burden
Against the backdrop of US tort reform, some US insurers are lobbying to increase Equitas’ burden of asbestos claims, warned the run-off reinsurer’s new chief executive Scott Moser last week.
15 September 2003
Erwin batters northern Europe
No letting up in natural catastrophes after record 2004 losses After 2004 produced record insured losses from natural catastrophes estimated at some $40bn, 2005 started in a similar vein as Windstorm Erwin cut a swathe through northern Europe over the
10 January 2004
European insurers seek competitive advantage from ERM, says S&P
Standard & Poor’s (S&P) has reported that, while Enterprise Risk Management (ERM) programmes for the majority of European insurers are “adequate”, the outlook for ERM is “nevertheless positive”.
16 July 2007
Lancashire appoints chief risk officer
"Class of 2005" insurer Lancashire Holdings Ltd has appointed Neil McConachie as its chief risk officer.
28 August 2007
Aon takes a fraction of Gallagher Re staff
The future is uncertain for nearly three quarters of Gallagher Re’s 250 employees following the deal worth around $40mn to sell the unit to Aon Corp.
10 March 2008
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