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Berkshire enters Californian WC market with AARIS
Despite previously describing the Californian workers’ compensation sector as “crazy”, Berkshire Hathaway has agreed to replace Everest Re as the carrier on Acacia Pacific Holdings’ California Workers Compensation Program.
28 June 2004
Purkiss steps aside at Alea
Recently floated Bermudian (re)insurer Alea revealed last week that CEO Dennis Purkiss will step down from the executive board at the end of June, with group president and COO Mark Ricciardelli taking the reins.
28 June 2004
JLT share price hit by trading fears
Shares in UK brokerage Jardine Lloyd Thompson (JLT) hit a three-year low last week on fears that the company’s profits would be hit by weaker than expected reinsurance volumes.
28 June 2004
Guy Carpenter lauds Lloyd’s recovery
Lloyd's has undergone an impressive turnaround since September 11 and results are likely to remain strong through 2004, Marsh-owned reinsurance broker Guy Carpenter has concluded in its latest overview of the London insurance market.
28 June 2004
Obesity poses insurance industry health risk, warns DrKW
The insurance and reinsurance sectors are the most exposed industries in the short term to increases in the prevalence of obesity, a new report from Dresdner Kleinwort Wassertein Research (DrKW) has concluded.
28 June 2004
Analysts predict $650mn environmental reserve charge at St Paul Travelers
Investment analysts at Morgan Stanley have cut their rating on recently merged St Paul Travelers, after revealing concerns that the group’s environmental exposures will lead to a $650mn fourth quarter 2004 pre-tax reserve charge.
28 June 2004
Near North founder Segal guilty of fraud
Michael Segal, the colourful founder of Chicago based Near North Insurance Brokerage Inc, was imprisoned last week following his conviction on multiple counts of mail fraud, wire fraud, tax conspiracy and racketeering.
28 June 2004
R&SA sells Codan Life to SEB Trygg Liv
Serial disposer Royal & SunAlliance (R&SA) has announced the sale of the life and pensions divisions of its subsidiary Codan. R&SA, which owns 71.7 percent of Codan, said the sale would be to Danish life insurer SEB Trygg Liv and would net an estimate
28 June 2004
Positive trading statements boost Kiln, Chaucer
Figures point to lower than expected softening on rates An upbeat trading statement from Lloyd's specialist insurer Kiln provided the impetus to a more than 7 percent share price rise last week after the company said premium rates were holding up bett
28 June 2004
Xchanging move
UK BPO specialist Xchanging has announced that it will move all its operations to 34 Leadenhall Street, replacing its current three office locations.
28 June 2004
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