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Asbestos reform flounders (again)
Recent hopes for the resurrection of plans for US asbestos tort reform appear to have run aground after a revised bill failed to get the required number of votes to be put forward for consideration in the Senate.
26 April 2004
Liberty launches European service arm
The expansion into Continental Europe by Lloyd’s insurer Liberty Syndicates was boosted last week with the launch of a service company which will help it target new reinsurance business.
26 April 2004
Spitzer subpoenas brokers over commission arrangements
US regulators turn attention to insurance brokers over the growing practice of charging volume commissions
26 April 2004
Novae PI appointments
Novae Underwriting, the recently launched liability operation of Lloyd’s insurer SVB, announced the appointment of two leading professional indemnity (PI) underwriters last week.
19 April 2004
AM Best considers implications of Sirius acquisition
The rating of Sirius International - the Swedish insurer recently acquired from ABB by the White Mountains Insurance Group – is under review by AM Best.
19 April 2004
SCOR applies for Chinese licence
French reinsurer revealed last week that it has applied for a licence with the China Insurance Regulatory Commission (CIRC) to write reinsurance business in China.
19 April 2004
S&P holds negative outlook on reinsurance sector
Ratings agency Standard & Poor’s (S&P) announced last Thursday (15 April 2004) that it will hold its negative outlook on the global reinsurance industry, voicing concerns over the potential for further development of prior-year reserves in the coming year
19 April 2004
R&SA’s ‘core’ looks smaller with Scandinavia speculation
Royal & Sun Alliance’s strategic move to lose its non-core international operations may extend to its Scandinavian arm – despite only last year saying the area was one of its three areas which it would focus on.
19 April 2004
Xchanging to launch Deutsche Bank joint venture
Claims management and outsourcing firm Xchanging is in negotiations with Deutsche Bank to take over the handling of its back office securities clearing processes.
19 April 2004
WTC update: Trial enters final furlong
WTC leaseholder Silverstein Properties and insurers led by reinsurance giant Swiss Re are litigating over which contractual wordings the various parties used in placing the building’s insurance cover.
19 April 2004
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