Risk

What’s New: In brief (June 08, 2005)

The Spencer Educational Foundation Inc. recently established a memorial scholarship fund in honour of Thomas M. Regan, a former RIMS chapter president, who was killed on September 11, 2001, in the World Trade Centre attacks. The New York Chapter of RIMS has donated US$100,000 for the scholarship, which will be presented at the chapter’s upcoming […]

By Canadian Underwriter | June 8, 2005

2 min read

Guilty plea may lead to five-year prison term, General Re executive

General Re Corp.’s former executive John Houldsworth’s recent decision to plead guilty to conspiracy concerning the AIG investigation may result in a jail term of up to five years. The term reflects the maximum penalty of the charge made against Houldsworth by the Department of Justice Investigations (DOJ).The Securities and Exchange Commission (SEC) has filed […]

By Canadian Underwriter | June 7, 2005

2 min read

European reinsurers see improved 2004 profits

Despite record catastrophe losses, European reinsurers recently registered recorded improved profitability for 2004, according to the latest European Reinsurance Quarterly Report from Benfield.Results from six major European reinsurers exhibit earning results from non-catastrophe business held up so that overall losses were moderate, according to Benfield’s Industry Analysis and Research team spokesman Lewis Phillips. “The retention […]

By Canadian Underwriter | June 6, 2005

1 min read

AIG case sees first guilty plea, General Re exec

Former General Re executive John Houldsworth has plead guilty to one count of conspiracy regarding the accounting investigations into American International Group (AGI). Houldsworth, a former executive at Berkshire Hathaway’s General Re unit and former chief executive of Gen Re’s Cologne Re Dublin unit in Ireland, admitted his criminal role in conspiring to misstate AIG’s […]

By Canadian Underwriter | June 6, 2005

1 min read