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  • 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.
  • The UK’s second largest general insurer Brit Insurance Holdings Plc has bolstered its casualty arm by appointing four new underwriters, including former Limit director Peter Battle.
  • Following his targeting of uber broker Marsh for its use of PSAs (see Insider Week passim), New York attorney-general Eliot Spitzer has now set his sights on another Marsh & McLennan (MMC) subsidiary, namely Mercer Human Resource Consulting.
  • SCOR’s EUR180mn 4.125 percent senior unsecured “OCEANE” bond has been assigned a “BB” rating by Fitch, matching the French reinsurer’s long-term rating.
  • Hamilton headquartered reinsurance giant ACE came out ahead of consensus to book a 13 percent increase in operating profit to $443mn, or $1.50 per share, in its latest set of quarterly results. This compared with operating profits of $391mn, or $1.33 per
  • Rates for directors & officers cover in the US climbed to an all time high last year as insurers continued to increase rates, according to Tillinghast’s 2003 Director’s and Officers Liability survey.
  • Broker Heath Lambert has announced the appointment of Jean-Michel Lewis and Nigel Earle as directors.
  • Adrian Colosso has been promoted to Group managing director of the broker Heath Lambert, following a year of flux which witnessed the ousting of chief executive David Margrett, a restructuring of its debt and ownership and the selling-off of a number of d
  • Rehabilitation specialists HCML has said it aims to triple its workforce by the end of 2004 to support increased demand from UK businesses for comprehensive medial and vocational case management services.
  • Inhabitants of the Caribbean and the US East Coast should expect another active Atlantic hurricane season next year, weather experts have warned.