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  • Improvements in technology, cycles and consolidation, and increased corporate governance are the three major trends facing the insurance industry, CEO and chairman of broker Willis Jo Plumeri has said.
  • US banking giant Citibank announced today (10 May) that it has reached a pre-tax $2.65bn settlement of class action litigation brought by WorldCom investors.
  • Guy Carpenter’s Adam Fox is set to join fast-expanding London market broker Glencairn Ltd, Insider Week can reveal.
  • World’s largest insurer, American International Group (AIG), kicked off the US first quarter reporting season on 23 April when it said profits had jumped 36 percent to reach $2.6bn, compared with $1.95bn for the same period a year earlier.
  • Talbot Holdings, the private equity backed Lloyd’s insurer, revealed a 66 percent increase in profits to $19.8mn for the year.
  • Swiss Re today opened the debate on the increasing use of nanotechnology in industrial and commercial production, calling for greater analysis of the inherent risks of the process to enable the insurance industry to provide the framework for further growt
  • One of the last remaining LMX reinsurance disputes was finally settled when the Honourable Mr Justice Colman ruled in favour of retrocessionaires over the 1989 Exxon Valdez oil spill in the UK High Court.
  • US regulators’ investigations into broker commission kickbacks has widened with news that the Connecticut Attorney-General Richard Blumenthal has launched a parallel investigation alongside that of the campaigning New York A-G Eliot Spitzer.
  • UK insurers may be in line for claims payouts after flash floods hit London and parts of the West Midlands and Yorkshire on Tuesday (27 April, 2004).
  • Fast expanding Hyperion Insurance Group, owner of London market broker Howden Insurance Brokers, has bought a stake in the reinsurance specialist, JK Buckenham Ltd for an undisclosed sum.