Lloyd’s of London, the world’s oldest and most visible insurer, finally released its projected loss figures from the disastrous events of Sept. 11. According to the calculations from over 100 syndicates, net loss exposure will be around £1.3 billion ($1.91 …
If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui peut” might better …
What did you know, and when did you know it?” Those questions from the Watergate era are increasingly being asked of the U.K.’s Financial Services Authority, which oversees the country’s insurance industry, in the wake of the spectacular meltdown of …
The fight for Reliance Insurance Company’s (RIC’s) assets between the Pennsylvania Department of Insurance (PDI), which took over the failed insurer last June, and the creditors and investors of its parent company, Reliance Group Holdings (RGH), which has filed for …
The events of Sept. 11 shook the foundations of the entire American financial community, and American International Group was no exception. Ironically, AIG had already had a very busy month. In Korea, it looked set to conclude its takeover of …
No words will ever be able to fully convey the shock and the stunned incredulity around the world as the Sept. 11th terrorist attacks unfolded on television screens across the globe. Live coverage on French television began shortly after the …
The conversion of illegal funds into legitimate accounts and investments, commonly known as “money laundering,” is a growth business. According to the International MonetaryFund, money laundering could account for 2 percent of global Gross Domestic Product. Based on 1996 figures, …
By Charles E. Boyle The events of Sept. 11 shook the foundations of the American financial community, and industry giant American International Group is one of many shaken by the tragedies. AIG has issued a preliminary estimate of its total …
Once upon a time in a country far, far away, a few visionaries (and yes, a few con artists) laid the foundations of the multi-billion dollar motion picture industry. It required taking considerable risks, and still does. Since its beginning …
No words will ever be able to fully convey the shock and the stunned incredulity around the world as yesterday’s terrorist attacks unfolded on television screens across the globe. Live coverage on French television began shortly after the first aircraft …
