Equitas settles with US insurers
30 March 2004
Equitas, the Lloyd’s vehicle for handling the market’s huge pre-1993 asbestos exposure, has reached a final settlement of all claims related to giant US insurer Travelers…
International
Silverstein tells of insurance snag
30 March 2004
World Trade Centre leaseholder Larry Silverstein finally got his day in the witness box late last week, but it was just for 30 minutes…
Silverstein lashes out, and lands in trouble
23 March 2004
World Trade Centre leaseholder Larry Silverstein narrowly avoided being barred from his own court case this morning…
Loss signals end to Munich Re’s three miserable years
23 March 2004
It used to be that the only reinsurers which made a loss were those on their way out, but that’s no longer the case…
UK freezes premium taxes
23 March 2004
British Chancellor of the Exchequer Gordon Brown has announced a freeze on insurance premium taxes, holding them at 5%…
Allianz still struggles to achieve success
23 March 2004
German insurer Allianz is still grappling with massive deficits in its operations…
Like father, like sons
16 March 2004
They say insurance is a family kind of industry, but the Greenberg family has taken it to the extreme…
More bad news for Royal & Sun Alliance
16 March 2004
They might have done very well selling Promina off last year, but it doesn’t appear to have done London-based Royal & Sun Alliance a whole lot of good…
Cover in place for Madrid terrorism losses
16 March 2004
Losses arising from the bombing of Spanish commuter trains in Madrid last week – which killed nearly 200 people and injured another 1,400 – will probably be covered…
Immelt still keen to sell
16 March 2004
Global comglomerate GE loves the sort of profits its Employers Re Corporation is bringing in – but Chairman and CEO Jeff Immelt still wants out of the insurance business…
Axa back on the acquisition trail
09 March 2004
Axa CEO Henri de Castries is on the lookout for new acquisitions after posting a 6.4% rise in net profit to $1.6 billion for 2003…
RIMS still worries about insurers’ reserves
09 March 2004
US risk managers are still worried about insurers’ exposures to asbestos claims and whether the insurers have adequate reserves to meet them…
Names still doing their bit at Lloyd’s
09 March 2004
The Lloyd’s Names – that hardy bunch of wealthy individuals who underwrote the market’s capacity for more than 300 years…
Aviva begins slow recovery
09 March 2004
Aviva, former owner of CGU and NZI, has recorded an 11% jump in profit over 2002 to post a net operating profit of $4.6 billion…
Greenberg stirs up lawyers
02 March 2004
Plaintiff lawyers in the US are up in arms over the claim last week by AIG Chairman Maurice “Hank” Greenberg that plaintiff lawyers opposing tort reforms are “terrorists”…
Deutsche settles over WTC
02 March 2004
Germany’s Deutsche Bank has reached an agreement with its insurers over a New York building that was wrecked by the September 11 attacks…
FM Global sets a new record
02 March 2004
International commercial and industrial property insurer FM Global has had a stellar year, with net income rising to $920 million…
KKR further reduces stake in Willis
24 February 2004
Willis Chairman and CEO Joe Plumeri lost his majority shareholder last week – and he probably couldn’t be more happy about it…
WTC evidence: very interesting
24 February 2004
New York media reports on the courtroom tussle between World Trade Centre leaseholder Larry Silverstein and a consortium of reinsurers and insurers provide fascinating reading…
Silverstein ‘knew attack was one event’
17 February 2004
The man responsible for obtaining insurance for the World Trade Centre, Robert Strachan, has told a New York Federal Court that he negotiated the coverage…