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September 2005/2

  • French reinsurer SCOR continued its return to profitability as it announced an 18 percent rise in net income to EUR72mn in its first half results for 2005 at the beginning of the month.
  • Pat Ryan, the founding chairman of broking giant Aon Corp, last month announced plans to sell five million shares in the company, equivalent to some $146mn, last month.
  • US broker Hilb Rogal & Hobbs Company has settled with Connecticut regulators investigating the firm over alleged compensation abuses.
  • Rod Fox, the former chief executive of Benfield’s US arm, has returned to the broker to help develop its new Benfield Corporate Risks division.
  • While the full magnitude of insured losses from Hurricane Katrina is still being assessed, it already appears certain that the burden will be high enough to trigger payment from the owners of CAT bonds and insured loss warranties.
  • Shares decline as H1 profit slump unveiled...
  • In our regular monthly London News Digest, we round up key stories from the last month, presenting them to you in easily digestable snippets.
  • Lloyd’s insurer Amlin plc is planning to start a Bermudian (re)insurer next year, The Insurance Insider can reveal.
  • Days after 11 September 2001, the former MMC chief executive Jeffrey Greenberg was instrumental in forming Axis Specialty – the Bermudian insurer which has since blazed a trail of success amidst the ripe rating environment of 2002-2004.
  • Bob Clements' fast growing start-up looks to make London breakthrough with its debut acquisition...
  • In the aftermath of the terrorist attacks on the World Trade Center, The Insurance Insider’s lead editorial quoted the following exchange from Hemingway’s The Sun Also Rises:
  • It's not finite reinsurance which is wrong, but irrational accounting practices, argues former Swiss Re managing director Shirley Beglinger
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