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Clubs polarised at P&I renewal
The recent P&I renewal season was characterised by a split between clubs determined to maintain discipline and charge published rate increases, and those who let discipline slip, according to Aon’s P&I division P.L. Ferrari & Co (Aon PLF).
21 March 2005
Clements steps down at Arch, Ingrey steps up
Industry grandee Bob Clements, the founding chairman of Bermuda’s Arch Capital, is to step down from his position at the company, with current vice-chairman Paul Ingrey taking his place at the beginning of next month (1 April 2005).
21 March 2005
Munich Re profit built on primary turnaround
World’s largest reinsurer Munich Re made a solid if unspectacular start to its 125th anniversary year with the announcement of EUR1.8bn 2004 profit, marking the mid-point of its own projected range of EUR1.7bn to EUR1.9bn – lowered after an associated com
21 March 2005
Hard market persists in 2004 for Chaucer
Specialist Lloyd’s insurer Chaucer has announced record pre-tax profits of £38.2mn, a 6.7 percent increase on 2003’s £35.8mn figure.
21 March 2005
Lloyd's and London unprepared for regulation
A survey of London and Lloyd’s CEOs has revealed that the London market may not be ready for increasing regulation under the FSA, the plans for which will be announced tomorrow (24 January, 2004).
17 March 2005
MMC Capital sells half of AXIS stake
Marsh & McLennan Risk Capital Holdings has agreed to sell around half of its share in AXIS Capital, the Bermudian (re)insurer it helped found in the wake of 9/11.
17 March 2005
Aon settles for $190mn as regulators air allegations
As predicted in the February edition of The Insurance Insider, Aon Corp struck a nationwide agreement with US regulators to settle the bid-rigging, kickback and steering investigations into the broking giant. The broker followed its rival MMC in estab
17 March 2005
Bermudians feel force of hurricanes
Aspen profits up AWAC positive result despite storms IPCRe hurricane losses grow Platinum profits down Quanta makes maiden year loss
17 March 2005
Cotesworth collapse breeds multiple claims
Names action group joins queue to sue directors of HIH-owned Lloyd's insurer Litigation embroiling now-defunct corporate vehicle Cotesworth Capital continues to snowball, with a claim being served earlier this month against former directors, auditors a
17 March 2005
Director clashes at Manning Williams
Friction between Manning Williams Ltd founder John Manning and co-director Colin Spreckley contributed to the decline of the Lloyd's broker, according to the director's report to the creditors meeting earlier this year. On 9 December 2004, the broker
17 March 2005
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