News
Spitzer releases report on Greenberg allegations
New York Attorney General Eliot Spitzer has released a formal report on the alleged abuses carried out by former AIG CEO Maurice ‘Hank’ Greenberg and other executors of the estate of the late Cornelius Vander Starr.
IPC chairman to go in reshuffle
Bermudian catastrophe reinsurer IPC Holdings has announced the retirement of its chairman Joseph C. H. Johnson, with effect December 31, 2005. Mr. Johnson will also be retiring from the board of IPCRe.
WR Berkley to open Spanish office
W. R. Berkley Insurance Europe, has announced the establishment of a branch in Spain.
Former AIG CEO misused assets, claims Spitzer
Former AIG chief executive Maurice “Hank” Greenberg was part of a group that enriched themselves at the expense of the estate of AIG founder Cornelius Vander Starr, according to New York Attorney General Eliot Spitzer.
Quanta to raise $129m in stock offering
Bermudian (re)insurer Quanta Capital Holdings is to raise $129m in a public offering of common and preferred stock.
Catlin changes underwriting management.
Catlin has formed a group underwriting board which will be responsible for the formulation and execution of underwriting strategy for the group. The, international specialist property and casualty insurer and reinsurer has also appointed a new active…
Powell Insurance Brokers makes acquisition
Powell Insurance Brokers has acquired the commercial division of Gregson Williams Insurance Brokers.The staff from Gregson Williams have moved to Powell’s offices on Liverpool’s waterfront.
Allianz Cornhill introduces new electronic reporting system
Allianz Cornhill engineering has introduced an electronic reporting system named eServices.The inspection report management package provides inspection customers with four new reporting tools.
FSA touts 100% compensation FOS hike
The Financial Services Authority today published the findings of its review of the compensation and eligibility limits for the Financial Services Compensation Scheme (FSCS) and for the compulsory jurisdiction of the Financial Ombudsman Service (FOS).
Chaucer appoints two directors
Chaucer Syndicates has appointed two new directors; Janet Helson will lead the development of Chaucer’s third party syndicate management activities and Gina Butterworth, becomes risk officer and has responsibility for Chaucer’s business-wide risk…
Fitch warns startups that hard market could be short-lived
Fitch Ratings has warned that the Class of 2005 could face a shorter hard market than many in the industry believe and could face some significant challenges from difficult market conditions in the near future.
The resident president
With a restructuring occurring at Marsh, Bruce Carnegie-Brown has been a very busy man. He talks to Guy Anker about why he chose to accept the position of Institute of Financial Services president and his commitment to change
Allianz to roll out fraud initiative
Allianz Cornhill is hoping that the insurance industry will respond to its latest motor claims initi...
UK could have its own Katrina
Environmental Claims
Governance guidelines get global green light
Mutual insurers have claimed their new guidelines to ensure corporate governance have received world...
Attack on compensation overhaul
Claimant lawyers have attacked the Association of British Insurers' plans for a complete overhaul of...
Appointment at Silverbeck Rymer
Silverbeck Rymer has appointed Jon Haynes as its first head of defendant operations and business dev...
Prince's Trust gains support
Insurer Allianz Cornhill and broker Allan, Chapman and James have joined The Davis Group and Sirius ...
Appointment at Moorhouse
Simon Thomas, formerly associate director for business development at Marsh, has been appointed grou...
Joined-up attack on PPI expected
The insurance industry can expect a joined-up regulatory attack on the mis-selling of payment protec...
Inflated cost claim approved
Insurers were left frustrated this week, after a High Court decision that could lead to a significan...
AA reveals anti-theft drive
AA Insurance is to launch an anti-crime awareness campaign, aimed at reducing the number of vehicles...
Appointment at Atrium Underwriting
Atrium Underwriting chief executive Nick Marsh is being replaced by Steve Cook, previously group man...
CBS receives £10m boost
Lloyd's members' agent CBS Private Capital has relaunched its private investment fund, after its fir...