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US P/C results unbowed by hurricanes
Strong results in the US property casualty sector were sustained throughout the first three quarters of 2004, as companies stood firm against the battering from the quartet of hurricanes that swept the Caribbean and South Eastern States last autumn.
04 January 2005
HCC channels funds to premium growth
US insurer HCC Insurance Holdings confirmed last week that the lion’s share of funds raised in its recent share offering would go to its insurance company subsidiaries.
04 January 2005
WR Berkley uncovers ‘inappropriate’ practices; Delphi reveals employee suspensions
The US insurer WR Berkley revealed last month that it had uncovered evidence of “inappropriate solicitation practices” as part of its internal investigations into the group’s business practices.
04 January 2005
Ivan's fury fuels energy renewals
There is increasing evidence that energy renewals have been hard hit by Hurricane Ivan, the Category 5 hurricane that ripped through the Caribbean and Florida in September 2004.
01 January 2005
German industry objects to Fitch's unsolicited ratings
Fitch Ratings has found itself embroiled in a dispute with the German Insurance Industry Association GDV over its plans to publish unsolicited ratings on hundreds of European insurers. In a 7 January dated letter sent to Fitch Ratings' managing directo
01 January 2005
Down-to-the-wire deal seals FSA approval
A last-minute agreement was reached this month between the Lloyd's Market Association (LMA) and London Market Insurance Brokers' Committee (LMBC) on the form of the new Lloyd's terms of business agreements (TOBAS). The decision came on 13 January, 2005
01 January 2005
Pender Mutual collapse strains
Cover for up to $65bn of telecoms assets may have to be placed on the open market following the collapse in November 2004 of Pender Mutual Insurance Company (PMIC), the Isle of Man based insurer set up to provide cover for Cable & Wireless and other large
01 January 2005
Investors welcome Spitzer settlement news
MMC investors clearly see resolution with the New York attorney general Eliot Spitzer as the key to resolving the traumas surrounding the broker's remuneration practices, if the share price's reaction is anything to go by.
01 January 2005
SEC opens up new front against MMC with Trident investigation
The Securities and Exchange Commission formally opened an investigation into Marsh & McLennan Companies' relationship with its private equity arm, MMC Capital, and its managed Trident investment funds, last month.
01 January 2005
Lloyd's sues Aon over Swiss Re Central Fund dispute
Lloyd's has issued proceedings against Aon over the broker's refusal to waive the statute of limitations concerning the Central Fund reinsurance dispute. The Corporation is preparing to enter the second phase of arbitration with Swiss Re and the other
01 January 2005
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