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  • 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
  • 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).
  • 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.
  • 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.
  • A recent UK High Court decision has outlined the dangers to reinsureds of making misrepresentations to their reinsurers either directly or through a broker.
  • 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.
  • 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
  • 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”.
  • "Class of 2005" insurer Lancashire Holdings Ltd has appointed Neil McConachie as its chief risk officer.
  • 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.