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Willis concludes strong year
Willis Group finished 2003 with a healthy organic growth of 15 percent for the year as it revealed total revenues had grown 20 percent to $2076mn.
09 February 2004
Swiss Re to acquire CNA life business
Swiss Re has agreed to buy the life insurance business of Chicago-based CNA for $690m in cash.
09 February 2004
WTC trial begins
Although an appeal is inevitable, and settlement still a possibility, it is nevertheless conceivable that in the next two months we will know whether the 9/11 attacks on the World Trade Center amount to one insurable loss or two.
09 February 2004
Kinnect handles first open market risk
Lloyd’s new digital hub Kinnect announced another first today (9 February, 2004) as it took its maiden complex open market risk.
09 February 2004
Obesity suits face curb
Legislation curbing the appetite of the US plaintiff bar to launch obesity class action suits took a step closer to reality after a US House of Representatives committee recommended the proposals to a formal vote.
09 February 2004
Allstate grows despite flagging life
US insurer Allstate narrowly beat analysts’ projections as it announced a 71 percent increase in net income per share and a 22 percent rise in operating income per share for the fourth quarter 2003.
09 February 2004
Fortis gets $1.8bn IPO windfall
Benelux financial services group Fortis announced a $22 per share price for the IPO of its US insurance unit, Assurant on Thursday (5 February) last week.
09 February 2004
SVB launches Novae
Lloyd’s insurer SVB has launched a new specialist service company, Novae Underwriting, to target the UK SME liability market.
09 February 2004
FSA censures former Aioi directors for illegal 'financial engineering'
The Financial Services Authority (FSA) has issued prohibition orders against six former directors of the European division of Chiyoda Fire and Marine Insurance, now known as Aioi Insurance Company of Europe Limited.
09 February 2004
IUA: London company market books £2.5bn positive cash flow
Latest figures from the International Underwriting Association (IUA) further underline the strength of bumper 2003 underwriting conditions, as the London company market showed a positive cash flow of more than £2.5bn.
09 February 2004
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