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News in brief
Anglo-American scheme increase The joint scheme administrators of Anglo American Insurance Company, KPMG partners Tony McMahon and John Wardrop, revealed that the payout percentage has climbed yet further from 85 percent to 90 percent.
19 July 2004
Markel International comments on AM Best rating
Specialist property and casualty insurer Markel International has welcomed the confirmation of its "A-" (Excellent) rating, with a stable outlook, by ratings agency AM Best.
19 July 2004
WTC judge imposes confidentiality order
World Trade Center leaseholder Larry Silverstein succeeded in persuading US district court judge Michael Mukasey to issue a “confidentiality order” over mediation discussions between the remaining ten insurers.
19 July 2004
More disposals at R&SA
UK insurance group Royal & Sun Alliance (R&SA) has announced the sale of its Pakistan based business to the International General Insurance Company of Pakistan Limited for a consideration of around £700,000 to be paid in cash.
19 July 2004
Capital rolls on despite scepticism
Despite UK insurance analysts’ collective scepticism over Berkshire Hathaway plans to back a Lloyd’s consolidation vehicle, sources suggest Capital Insurance Holdings remains on target to float on the Alternative Investment Market by the end of the month.
19 July 2004
AIG and Ahold settle D&O litigation
Dutch retail giant Royal Ahold announced on Friday (16 July) that it had reached a settlement with AIG of all outstanding litigation relating to $100mn D&O coverage of its US Foodservice subsidiary.
19 July 2004
SCOR targets paperless data exchange
French reinsurer SCOR has announced the completion of a platform for electronic data exchange with reinsurance broker Benfield.
19 July 2004
Aon: Aviation rates may harden
The aviation market in the second quarter of 2004 is showing signs of slight hardening, according the latest research from brokers Aon.
19 July 2004
Hannover Life Re in for ING Re?
According to reports, world’s fourth largest reinsurer and third largest life reinsurer Hannover Re is carrying out due diligence on the US life reinsurance business of Dutch financial services outfit ING.
19 July 2004
FSA climb down on risk manager regulation
UK risk managers’ representative body AIRMIC has welcomed a statement from the Financial Services Authority (FSA) that many group risk managers will be spared from regulation imposed by the Insurance Mediation Directive when it comes into force at the sta
19 July 2004
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