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  • MMC to lose thousands of staff In late September, senior Marsh executives from the broker's executive liability arm FINPRO met at a restaurant in New York to be told the broker would be making over a thousand redundancies which would include losses fro
  • Companies rarely volunteer to forego a lucrative proportion of their revenue streams but that is exactly what the industry's international brokers and large US retail brokers have been doing in the wake of Spitzer's allegations of price-fixing at Marsh.
  • MMC’s difficulties extend overseas with financial irregularities in Marsh Ireland and the sacking of a senior employee in Marsh Ltd for “misconduct” Marsh's Irish subsidiary Marsh Ireland has revealed that it has a EUR6.7mn hole in its accounts - more
  • A US Federal court struck out 20 class-action lawsuits which alleged that the Italian insurance giant Assicurazioni Generali withheld payments to holocaust victims.
  • Paddy Jago, Aon Re's veteran US casualty specialist, resigned this month after 15 years with the company.
  • Tokage was the latest typhoon to batter Japan last week with mudslides, flash flooding and high winds causing at least 83 deaths and hundreds of injuries.
  • Swiss insurance giant Zurich Financial Services revealed last week that it had promoted Dieter Wemmer to the role of chief executive officer of Europe General Insurance while adding him, together with ZFS’ head of global corporate business Geoff Riddell,
  • Alea, the UK listed reinsurer, appointed XL Global Services’ actuary Tom Weidman to the position of group chief actuary.
  • The Australian financial regulator, the Australian Prudential Regulation Authority (APRA), has banned a series of executives from acting as senior managers or directors in the insurance industry for their part in the collapse of HIH in 2001.
  • Yet another investigation: this time spotlight falls on Brightpoint transactions Fresh from fending off accusations of PSA-related bid-rigging and fraud, world’s largest insurer AIG released its third quarter 2004 results last week.