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GoshawK still open to offers
Lloyd’s consolidation remains distant, says analyst GoshawK, the UK listed owner of Bermudian reinsurer Rosemont Re, is still prepared to discuss a take-over, despite ending talks with a buy-out firm last week.
04 October 2004
Converium director steps down
Converium director Dr Jürgen Förterer resigned from the troubled reinsurer last week because the company’s new strategy will conflict with his position as head of German reinsurer, R+V Versicherung.
04 October 2004
Endurance continues growth with XL Re surety book
Fast-growing post-9/11 start-up Endurance has added to its US presence with the acquisition of the bulk of XL Re America’s surety reinsurance business through its US subsidiary Endurance Reinsurance Corporation of America.
04 October 2004
ACE applauded for reserve disclosure
Morgan Stanley insurance analyst Bill Wilt applauded ACE Ltd’s decision to provide further disclosure on its reserves by publishing its global loss triangles.
04 October 2004
James: Industry can learn Lloyd’s lesson
Lloyd’s director of Worldwide Markets Julian James has fired a warning to the insurance industry that it faces serious financial consequences if it fails to reverse its “pretty appalling” public image.
04 October 2004
WTC trial delayed
The second phase of the World Trade Center insurance coverage trial is now scheduled to begin on 12 October in New York, after being postponed last week.
04 October 2004
Ryan’s departure from Aon may spark overhaul
The announcement by Aon that its patriarchal chairman and chief executive Pat Ryan will step down may ignite speculation that the firm could undergo a significant overhaul.
04 October 2004
Oxygen seeks new blood
Sandler and Fisher signed up by new London Market intermediary London market intermediary start-up Oxygen opens its doors for trading today (4 October) with the backing of an impressive array of investors and senior management, and a mission to attr
04 October 2004
AIG probe goes criminal
World's largest insurer AIG confirmed on Wednesday that one of its business units was now under criminal investigation by the US Department of Justice for alleged violations of federal securities laws.
04 October 2004
Broking giant facing criminal probe over PSA commissions
US regulators are set to up the ante in their investigations of broker commission structures by broadening their scope to include possible criminal charges, Insider Week can reveal.
04 October 2004
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