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  • US insurer Cigna has announced that it will pay the State of Connecticut more than $870,000 after an investigation by state attorney general Richard Blumenthal revealed it had concealed improper commission payments to a broker.
  • (Re)insurers’ profitability continues to be threatened by the uncertainty of reinsurance disputes, a leading US lawyer has warned.
  • One of the world’s worst kept secrets finally became public last week when New York attorney general Eliot Spitzer announced plans to run for state governor.
  • The recent flows of hedge fund capital into the (re)insurance sector may spark the industry’s decline into the next soft market, a leading US insurance analyst has warned.
  • Insurance specialists DLA and Piper Rudnick are to merge, creating the third largest legal services provider in the world, based on the number of lawyers, and the second largest based on revenue, according to the latest AmLaw Global 100 rankings.
  • Sirius International Insurance Corporation has formed a new underwriting unit specialising in aerospace reinsurance. The new unit will underwrite traditional treaty and facultative reinsurance for aviation accounts.
  • Putnam Investments, stable mate of Marsh under the wing of Marsh & McLennan Companies, and a recent subject of the regulators’ scrutiny, saw outflows from its assets under management (AUM) stabilise in October and November as it began to recover the confi
  • Jardine Lloyd Thompson plc announced last Tuesday that its various subsidiaries have received official authorisation from the Financial Services Authority (FSA) ahead of the watchdog’s rapidly approaching 14 January 2005 takeover of regulation for the UK
  • The Office of Fair Trading (OFT) has announced that it will continue to review and monitor the UK liability market to ensure it continues to function without the difficulties encountered in 2003.
  • Lloyd’s reinsurer of last resort Equitas has announced its interim results for the six-month period ending 30 September 2004.