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There are 69,142 results that match your search.69,142 results
  • AIG's bear market - Bringing on the bad news by David Schiff
    On Monday 3 February at 8:23 p.m., AIG announced that it would take a $2.8 billion pretax charge ($1.8 billion after tax) to boost loss reserves, primarily for excess casualty and D&O claims from the 1997 to 2001 accident years.
    01 February 2003
  • Fitch mixed on Lloyd's
    Fitch, the rating agency, has affirmed the 'A-' financial strength rating of Lloyd's, but has retained the market's negative outlook. While Lloyd's capacity might have leapt to a record high of £14.4bn there are still some problems ahead, argues the ag
    01 February 2003
  • Magnus: London must change
    "The world of specialty insurance is booming", but Lloyd's and the London Market must address inherent inefficiencies or face losing business to Bermuda and other rising competitors. These were the views expressed by industry financier Sir Laurie Magnus a
    01 February 2003
  • Greenberg bullish in uncertain times
    A War in Iraq would make little impact on AIG claimed ceo Hank Greenberg to industry analysts this month. Asked about a possible conflict he commented, "Our business in the middle east is not huge. We have both life and non-life operations, and neither
    01 February 2003
  • Insider Shorts - Silverstein "undermined" by City Hall
    Larry Silverstein, the World Trade Center leaseholder, has complained that New York City officials are undermining his position as he campaigns for a $7bn settlement from his insurers.
    01 February 2003
  • Calling in the cash - Laptop scrutinises the cash call system as Lloyd’s managing agents send out their latest demands
    It has become customary to add to the woes of syndicate members by declaring losses not only when an account is due to close after 36 months; but also at quarterly intervals at any point in the normal three-year life of an account, or thereafter during th
    01 February 2003
  • Catlin wins fight in Club renewal
    Fierce inter-syndicate competition sees Catlin capture flagship contract from LIMIT Perhaps it was destined to be that the year of its name would see Catlin’s Syndicate 2003 take the helm on Lloyd's biggest and most prestigious marine reinsurance cont
    01 February 2003
  • Calls grow for US tort reform
    Pressure for comprehensive legal reform in the US has grown with the American Bar Association (ABA) voting to back asbestos limit caps and the asbestos reform bill was introduced in the US Senate. This after President Bush called for changes to medical ma
    01 February 2003
  • Laddering threat comes closer to reality
    But insurers exposed to the black hole of so-called "laddering" claims, are taking different estimates on the scale of the industry's potential exposure... The potential black hole of laddering liabilities came closer to reality this month when a US c
    01 February 2003
  • More losses at troubled Trenwick
    Embattled insurer Trenwick Group posted devastating fourth quarterlies to unveil a $386.1mn loss for the year. A loss was inevitable even before the insurer announced a $107mn boost to its reserves for the fourth quarter. The reserve boost, which followed
    01 February 2003
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