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Creechurch looks beyond Lloyd's
Speculation is mounting that a small Lloyd's vehicle could be the next for expansion beyond the confines of Lloyd's. Reports suggest that Creechurch Underwriting, the integrated Lloyd's vehicle, has plans to expand out of the Lloyd’s market, including
01 December 2002
US terror bill causes confusion
US Government terrorism insurance backstop causes concern for non-US carriers Insurance and reinsurance companies face a period of uncertainty as they try to understand the implications of the US Terrorism Risk Insurance Act 2002, announced on 26 Nove
01 December 2002
ESG Re's fight for survival gets tougher
ESG Re, the Bermuda based Life, Accident and Health reinsurer, has seen its problems multiply after a disastrous fortnight that included another downgrade, the resignation of its auditors and a threatened de-listing from Nasdaq.
01 December 2002
London faces $1.6bn space loss
A potentially devastating black hole for satellite insurers over Boeing 702 losses Space insurers are facing a potential $1.6bn loss - the largest loss in the history of satellite cover - after six Boeing-built satellites were found to have a much sho
01 December 2002
Lloyd's private capital increases for 2003
For the first time in over a decade, private capital has increased its underwriting participation at Lloyd's - over-turning a trend which a few years ago appeared terminal.
01 December 2002
The wonder of insurance regulation - Economic Development by David Schiff
In the nineteenth century, American railroad companies sold land to Europeans using a timeless method: fraud. Cold, inhospitable prairie was advertised as warm and fertile farmland with a year-round growing season. Badlands were billed as tropical paradis
01 December 2002
Insider Shorts: GE’s Employers Re – unloved and up for sale
GE’s Employers Re – unloved and up for sale “ERC does not fit GE’s business model” said General Electric chairman and chief executive Jeff Immelt on 21 November as he revealed its reinsurer would cost the company another $2bn.
01 December 2002
Greenwich 994's future rests on last minute funding deal
Managing agency under pressure - Lloyd’s grant stay of execution as funding deadline extended The Lloyd's insurer Greenwich Insurance Holdings PLC, and its Syndicate 994, may close unless a last minute funding deal can be arranged that will provide th
01 December 2002
Glenrand Ltd in management buy-out
The UK broking operations of South African insurance group Glenrand MIB are to be bought-out by its UK management, led by chairman Andrew Wallas and chief executive Mark Pattle.
01 December 2002
Benfield confirms London IPO
Speculation over location of IPO ends with the surprise choice of London Benfield, one of the London market's leading brokers, surprised observers at the end of last month by revealing it was to choose London over New York for the location of its long
01 December 2002
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