Lloyd’s is on the verge of suing two of its largest brokers, Aon and Benfield, over the Central Fund reinsurance policy they negotiated with six insurers in 1999. The policy, underwritten by Swiss Re, Employers Re, The St. Paul, Hannover …
Ultimately “all the King’s horses and all the King’s men” couldn’t put Kinnect together again. The King’s men in this case being the management of Lloyd’s, who have finally thrown in the towel on the London market’s highly touted information …
Although Katrina is long gone, the clouds of misfortune she and her sisters generated will linger for decades. They radiate well beyond Louisiana, Florida, Texas, Mississippi, Alabama and other regions into the heart of the reinsurance industry, which has been …
XL, Rockhill and GMAC RE jockey for market share with established surplus lines writers Katrina-sized catastrophes put added pressure on admitted carriers, which increases the demand for greater capacity in excess and surplus lines. When the need is big enough …
In an updated statement, Lloyd’s acknowledged that it now estimates the London market’s combined losses from the three hurricanes that struck the U.S. will exceed $5 billion. The new figures are based on the results gathered from a “Major Loss …
In retrospect, the name GE Insurance Solutions (principal operating company Employers Re or ERC)–seems prophetic. Almost from the day that Jeffrey Immelt took over the reins at GE from its long-time CEO Jack Welch he began looking for a solution …
Paris: Somber, gray leaden skies cover Paris, as dignitaries gather to commemorate the 87th anniversary of the end of what the French call La Grande Guerre. The weather matches France’s somber mood at the moment, following the recent riots. Nevertheless …
“Heaven has no rage like love to hatred turned, Nor hell a fury like a woman scorned.” Powerful, but perhaps prophetic words, following the passage of Katrina and Rita. Have we “scorned,” in William Congreve’s words, the scientific community’s warnings …
Pulling Together” was the overall theme of the United Kingdom’s Chartered Insurance Institute’s Annual Conference, which concluded Sept. 23 in London. However, the “Three Re’s’ took an equally prominent role. Delegates heard a great deal on how to address: The …
Lloyd’s is 317 years old and doing just fine thank you. London’s venerable insurance market traces its roots to the establishment of Edward Lloyd’s coffeehouse in 1688. It’s an icon of both tradition and innovation. Tradition–as expressed not only in …
