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  • Correction: Former CBS Names’ executives
    In the last edition of Insider Week (No 154) we referred to Lloyd’s members’ agency Hampden Agencies recruiting a former CBS Names’ executive, Roger Sedgwick Rough, who had been made “redundant”.
    10 January 2004
  • Amlin and Wellington cautiously optimistic on market
    Two of Lloyd’s leading players, Amlin and Wellington, released trading statements last week revealing average rate falls of four and five percent respectively for 2004.
    10 January 2004
  • Class actions on the rise
    The number of US securities class actions increased in 2004 as shareholders continued the willingness to support actions against publicly traded stocks.
    10 January 2004
  • ACE reduces asbestos exposures with Brandywine sale
    ACE Ltd has partially lifted the asbestos albatross which haunted the company’s reserves ever since it acquired CIGNA Property & Casualty business in 1999, by selling its run-off unit Brandywine to Randall & Quilter Investment Holdings Ltd.
    10 January 2004
  • Spitzer joins SEC in General Re finite probe
    Little over a week after receiving a request for information on the sale of its “non-traditional or loss mitigation insurance products” from the Securities and Exchange Commission (SEC), Berkshire Hathaway unit General Re revealed last Thursday that it ha
    10 January 2004
  • Swiss Re launches CEA cat bonds
    The California Earthquake Authority (CEA) has issued two tranches of catastrophe bonds, collateralising high-end property losses from personal and commercial lines in California.
    10 January 2004
  • Highway takeover announcement fuels shareprice surge
    Specialist motor insurer Highway appears to be back on the takeover menu – with the company announcing on 4 January that it had received expressions of interest from a number of bidders.
    10 January 2004
  • Equitas clears another $200mn of liabilities
    World’s de facto largest asbestos reinsurer Equitas continued its commutations drive with the announcement last week that it had reached “comprehensive agreements” with four major policyholders at the tail end of 2004.
    10 January 2004
  • Endurance subpoenaed in Spitzer probe
    Bermudian (re)insurer Endurance Specialty Holdings revealed last week (6 January 2005) that its US subsidiary Endurance Reinsurance Corporation of America had become the latest firm to be subpoenaed by campaigning New York attorney general Eliot Spitzer i
    10 January 2004
  • Rivera resigns from ACE USA
    Last week, ACE USA chief executive Susan Rivera became the second most high profile casualty from the investigations into insurance industry practices following the ousting of MMC chief executive Jeffrey Greenberg in October 2004.
    10 January 2004
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