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  • The cover of the January 28 issue of Business Week reads “Special Report: Accounting in Crisis.” The crisis, of course, is Enron. It seems that the media are shocked, shocked to discover that many of America’s biggest companies lie, cheat, manipulate thei
  • Bermudian reinsurers XL Capital and Ace have settled their disputed property insurance claim with WTC leaseholder Silverstein Properties Inc. In a release Ace commented, "The settlement is based upon a single occurrence and therefore will comprise payment
  • Odyssey Re attacks the legitimacy of reinsurance arbitrage in its fight with embattled broker Stirling Cooke Brown Reinsurance arbitrage is on trial as Odyssey Re accuses parts of the London market of indulging in "shady low grade arbitrage business" d
  • In an effort to boost profitability St Paul's is planning a dramatic reduction in its International underwriting operations, which may include its non-Lloyd's UK operation, and to greatly reduce its reinsurance business including dropping Aviation and Cre
  • London contingency underwriters were victorious in the High Court last month in demanding that an electronics manufacturer pay over £400,000 in premiums on a policy linked to the performance of the Indian cricket team held up because the Indian authoritie
  • Troubled listed Lloyd's insurer SVB has blamed a £41.94mn cash call to comply with US Trust Fund requirements, which do not allow credit to be taken for any recoveries that may be made under existing reinsurance programmes, for the reduction in its 2002 u
  • Fears rise that rate increases fail to account for laddering exposures and Enrontis Despite strong rate increases, concerns are growing that D&O and professional liability rates fail to reflect the potential barrage of claims facing the insurance indus
  • Reinsurance is back in favour and, with generous subsides, Zurich's unwanted R/I division should enjoy a successful floatation. For sale. One reinsurance company no longer wanted by owner. Embarrassing exposures to Unicover after failed fronting arrang
  • As corporates reinforce their dominance of the capital base, the number of syndicates falls below 100 with Names facing a realistic chioce of twenty The Lloyd's market for 2002 is beginning to take shape. Some managing agents have taken advantage of th
  • English can often be misleading, so we have rustled up a guide to aid understanding to the minefiled of Lloyd's business jargon. This month it's the opaque business desription: