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FSA settles with Hogarth
Brit to pay outstanding claims
24 January 2005
Alea profits warning, but no ratings action
Ratings agency Standard & Poor’s (S&P) decided to leave (re)insurer Alea’s ratings unchanged last week, despite the group’s revelation that deteriorating results on pre-2003 US casualty business and the heavy hurricane losses would add between five and se
24 January 2005
Insurers settle BP Amoco dispute - But Swiss Re, AXA and Aon remain on hook
Insurers AIG, ACE and Aegis have settled their share of energy losses claimed by oil giant BP.
24 January 2005
Connecticut AG predicts more lawsuits after Marsh/ACE suits
The Connecticut attorney general Richard Blumenthal vowed to launch a series of legal actions over alleged insurance industry abuses when he filed a lawsuit against Marsh and ACE Ltd last week.
24 January 2005
Marsh UK outlines PSA alternative
‘Placement Model Proposal’ endorses transparency; suggests additional fees may be charged. Marsh’s UK retail operation plans to offer customers a 2-5 percent discount off the “nett” price of cover, and has not ruled out charging the market extra...
24 January 2005
Hanbury triumphs in Lloyd’s Council elections
Nigel Hanbury, the chief executive of Lloyd’s members’ agent Hampden Agencies, has been elected to the Society’s ruling body, the Lloyd’s Council.
24 January 2005
HCC restructures life/health operations
Houston Casualty Company has merged its medical stop loss and group life insurance underwriting agency, HCC Benefits Corporation, into its life insurance arm, HCC Life Insurance Company (HCC Life).
24 January 2005
Equitas attacks FAIR over bankruptcy fear
Equitas has expressed its opposition to the Fairness in Asbestos Injury Resolution Act (FAIR) over fears that the proposed US legislation would fail to protect the run-off vehicle from going bankrupt.
24 January 2005
Ballardie joins Tokio Marine Group
Less than a year after joining Aspen Re as chief risk officer, Adrian Ballardie has left the reinsurer to join Tokio Marine Global as chief underwriting officer.
24 January 2005
ReAC set to return as Calliden Group
The dormant Reinsurance Australia Corporation, ReAC, is set to rebrand and begin underwriting – five years after it was brought to its knees by the low rates and high casualty losses of the late nineties.
24 January 2005
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