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Capital Z buys majority stake in SBJ
The management of medium sized insurance broker SBJ Group Ltd has ended the group’s five years of independence by selling a majority stake in the company to the private equity firm Capital Z.
29 November 2004
MRM action against John Hancock given green light
Mutual Risk Management, the Bermudian programme manager that blamed John Hancock Life Insurance Co for its downfall in 2002, can proceed in its action against the US life insurer.
29 November 2004
Aon predicts cautious approach to P&I renewals
World number two broker Aon predicts a cautious approach from P&I clubs to 2005 renewals as ongoing concerns over increased claims levels and indifferent investment returns impact negotiations.
29 November 2004
Benfield: European and Bermudian balance sheets stand firm in face of hurricanes
Despite heavy losses from the devastating round of North Atlantic hurricanes and Japanese windstorms that swept through the third quarter this year, European and Bermudian reinsurers stood firm with balance sheets surviving largely unscathed, according to
29 November 2004
WTC verdict: Jury still out
Jury deliberations into the second round of WTC insurance litigation will continue from Tuesday after the jury was unable to reach a verdict last week.
29 November 2004
Doubts raised in Fairfax finite arrangements
Questions have again been asked about the long-term viability of Canadian holding company Fairfax Holdings, this time in relation to its finite reinsurance arrangements.
29 November 2004
Chaucer hires international binders team
Lloyd’s insurer Chaucer announced today (29 November) it had hired a new international binders underwriting team for the property division of its Syndicate 1084, with William Alderton at the helm.
29 November 2004
13 years on, Executive Life dispute lingers like a bad smell
Controversy refuses to die down as policyholders lobby for $4bn settlement Almost a year after Insider Week’s sister publication The Insurance Insider first reported an initial settlement (see December 2003), the interminable dispute over the 1991 tak
29 November 2004
AIG reaches preliminary settlement over finite deals
AIG announced last week (23 November) that it has reached an $80mn preliminary settlement with the US Department of Justice (DOJ), and submitted a settlement offer to the Securities and Exchange Commission (SEC) that will see it pay $46mn into a disgorgem
29 November 2004
Spitzer shorts
We document the latest developments in the regulatory investigations into broker remuneration practices, sparked by the New York attorney general’s 14 October complaint against MMC
29 November 2004
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