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  • NAIC close to bolstering broker disclosure requirements
    The National Association of Insurance Commissioners will host a public hearing later this week to consider comments on its proposals to toughen up brokers’ disclosure requirements on commissions.
    29 November 2004
  • Willis ups ante in post Spitzer approach
    Willis plays aggressive independence card Willis Group, the global insurance broker tipped by many to benefit from the Spitzer fall-out, has been aggressively marketing itself as a non-conflicted alternative to the mega-brokers Marsh and Aon.
    29 November 2004
  • FSA censures The Underwriter; fines Rutter
    The UK Financial Services Authority (FSA) has censured The Underwriter insurance company and fined its former CEO Keith Rutter £20,000 for circumventing FSA regulations in 2001 and 2002.
    29 November 2004
  • Start-up Lloyd’s syndicate allocated 1965
    Argenta’s new marine Lloyd syndicate will be allocated number 1965 when it begins trading next year, Insider Week can reveal.
    22 November 2004
  • PSA investigation spurs regulators’ zeal
    Although the New York attorney general set the wheels in motion, last week provided ample evidence that many other US regulators are proving equally zealous in probing the insurance industry for apparent defects.
    22 November 2004
  • Japanese insurers expand in London; Aioi & Tokio Marine set up London operation
    World’s largest insurer AIG has announced the acquisition of the insurance portfolio of the Royal & SunAlliance (R&SA) branch operations in Japan by its subsidiaries American Home Assurance Company and AIU Insurance Company.
    22 November 2004
  • Nikko confirms breakdown of GoshawK talks
    The mooted takeover of GoshawK, the UK listed owner of Rosemont Re, has been ruled out by Nikko, the Japanese private equity firm which was given a deadline of 23 November to make firm its declaration of interest.
    22 November 2004
  • MMC culls board insiders
    The beleaguered broking giant MMC took further steps to improve its corporate governance rating by firing five senior executives from its board of directors last week.
    22 November 2004
  • Willis wins Fortune account from Marsh
    Willis’ hopes that it may be the main beneficiary from any client fall-out at Marsh were boosted last week with the revelation that Fortune brands – a company named in Spitzer’s 14 October lawsuit – appointed Willis to replace the world’s largest broker.
    22 November 2004
  • PXRE expands capacity with $83mn fund raising
    PXRE’s Bermudian reinsurance arm PXRE Reinsurance Ltd will have an additional $83mn of capital to support its 2005 underwriting following the group’s successful fund raising.
    22 November 2004
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