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Creechurch to spring IPO
Lloyd’s insurer plans to go public in a £75mn deal to launch UK insurance company Creechurch Underwriting Ltd is poised to become the latest Lloyd’s insurer to go public, as its management puts the finishing touches to a £75mn float currently planned
01 January 2003
Conseco is Bankrupt - Finally! - It’s been a long time coming argues David Schiff
It can take some time for a big, sleazy company to go bust. And it can take even longer when that company is run by an avaricious mountebank assisted by a bunkum-spewing accountant skilled in numerical prestidigitation.
01 January 2003
Greenwich to focus on marine reinsurance
A few weeks after Lloyd’s approved a last-minute funding deal with the Caribbean Imagine Insurance Co. Ltd, Greenwich and their new investors have restructured Syndicate 994’s underwriting portfolio. As a consequence, a moratorium has been placed on a num
01 January 2003
Silverstein goes on the offensive
The WTC litigation took another turn earlier this month. Silverstein Properties Inc, The Port Authority and Westfield have filed two new complaints alleging the original trial judge failed to take into account a “mountain of evidence” in an earlier ruling
01 January 2003
Aioi files Fortress Re charges
Aioi joins fellow insurer Nissan in attacking the Sabbah and Kornfeld “cash machine” Japanese insurer Aioi has accused directors of the Fortress Re Pool of "intentionally looting" the assets of its sister operation, the collapsed captive reinsurer Car
01 January 2003
Syndicates expand to record size
The Insider’s exclusive analysis shows that Lloyd’s insurers continue to grow as they chase 2003 profits Lloyd’s Syndicates have grown their 2003 capacity by an average of 43 percent each, according to figures obtained by The Insider. The growth of
01 January 2003
Investing syndicate assets
Syndicate performance evaluation often neglects the greatest resource for profit in the hands of syndicate managers, argues Laptop
01 January 2003
Sirius - bright prospects clouded
Unlike many of its peers, Sirius’ woes are not of its own making. Instead the Scandinavian insurer has been downgraded because of the sins of its parent, the struggling power and automation technology giant, ABB Group.
01 January 2003
Former HIH directors face prospect of criminal prosecutions
The scope of blame over HIH widened last week as lawyers for the Australian Royal Commission began their summing up into the insurer's collapse, outlining more than 1,000 alleged breaches of the law. Senior HIH executives face possible criminal charges
01 January 2003
Numis sanctioned by Lloyd's
Specialist investment banking group Numis Securities has been removed from the Register of Sponsors of Lloyd's Capacity offers for two years following proceedings bought against it by the Society.
01 January 2003
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