News
Thousands more jobs shed in Marsh shake-up
Marsh has announced it will axe another 2500 staff.
Marsh makes substantial fourth quarter loss
Marsh & McLennan Companies today reported financial results for the quarter and year ended 31 December 2004.
Converium hit by massive loss
Converium has reported a net loss of $760.8m for the full year 2004, which primarily reflects a net adverse impact of $581.3m on the technical result.
Douetil to become Brit CEO as Eckert steps down
Brit Insurance deputy chief executive Dane Douetil, is to succeed Neil Eckert at the group's AGM on 19 April. Mr Eckert will remain as an executive director until the year end and has agreed to stay on as a non-executive director thereafter.
Insurers fail in bid to stop compensation for pleural plaques
Insurers have failed in their attempt to evade responsibility for compensating thousands of victims ...
Ace gets Vietnam green light
Ace has announced that it has been told by Vietnam's Ministry of Finance that its application to est...
Equitas unveils deal
Equitas and Centre Group, a subsidiary of Zurich Financial Services, have announced an agreement to ...
Ace Limited granted a licence
Ace Limited has been granted a licence by Vietnam's Ministry of Finance to set up a wholly owned lif...
Bermuda's triangle of new financial guarantee reinsurers
Channel reinsurance, Bluepoint re and ascend make up the new wave of start-up companies to wash up on Bermuda
Hedge fund entrants set to shake up market
The hard reinsurance market and its ease of entry offshore has proved too tempting for cash-rich hedge funds to resist
US P&C market premiums down, claims CIAB survey
More than 80% of small and large commercial property/casualty accounts and 90% of medium accounts fo...
California Attorney General reaches agreements
California Attorney General Bill Lockyer has reached agreements with Lloyd's of London and 15 other ...
Moody's report looks at UK life industry
The overall rating outlook for the UK life-insurance industry remains negative, says Moody's Investo...
Aon signs Gecalux deal
Aon Corporation has announced that it has entered into an agreement with Le Foyer and Kredietbank to...
California AG announces deal over Lloyd's dispute
California's Attorney General Bill Lockyer has announced that he has reached several landmark agreem...
Reinsurance renewals weather storms
The (re)insurance industry has supported the new class action fairness act in the US, but will it lead to further tort reform?
JLT shares slump as it blames difficult trading for profit drop in 2004
Broker Jardine Lloyd Thompson Group recorded a profit before tax and exceptional items of £92.1m, compared to a restated £106.7m for 2003. Profit before tax was £81.3m compared to a restated £107.8m in 2003. It share price has dropped 11.5 pence on the…
Government launches National Mediation Helpline
Civil Justice Minister David Lammy today launched the National Mediation Helpline, for people with personal injury, small claims, business and consumer disputes. The service is designed to allow them to get information and advice on how mediation can…
Cox fails to find buyer for subsidiary
Cox Insurance today announced that it has decided to discontinue its Brokersure business and not accept any new instructions with effect from 3 June 2005. This follows termination of the talks to sell Brokersure that it announced in September 2004 as…
Analyst lacks confidence in SVB forecasts
Lloyd's insurer SVB's fourth quarter syndicate forecasts have been described as disappointing by one analyst. Nicholas Johnson of Numis, left his own forecasts unchanged, but lowered his confidence level in its numbers.
Cunningham Lindsey selected for Endurance panel
Endurance Worldwide Insurance has selected Cunningham Lindsey as one of the panel of loss adjusters for it’s UK lead proposition on the direct property insurance account. The appointment is effective immediately.
Lloyd's honours US brokers for outstanding achievement
Lloyd’s of London has announced the winners of the 2005 US Broker Awards.
Max Re rejigs reinsurance team
Max Re Capital has announced that its subsidiary Max Re has made a series of appointments in its reinsurance division.
Alea announces management changes
Alea Group Holdings, the specialty insurer and reinsurer, has announced changes to its executive management team.