Ace meeting shown online

Ace meeting shown online
Ace Limited is broadcasting its first quarter earnings conference on the internet. The meeting, which took place on Tuesday (May 1), can be heard by visiting the company's website on . It will remain online until May 8. Individuals accessing the website will need to identify themselves and their affiliation to hear a relay of the conference. The ACE Group has subsidiaries in nearly 50 countries, specialising in insurance and reinsurance.

Shareholders give go-ahead
Benfield Greig shareholders have voted in favour of the proposal to buy US rival EW Blanch Holdings for $179m (£123m). The deal, which was announced last month, needed backing from 75% of it shareholders. Under the merger, Benfield Greig will become the third biggest reinsurance broker in the world. It will be the only independent global reinsurance force and will have pro forma revenues of $410m (£284m) in 2000.

Eyes on China
Lloyd's is predicting that it will play an increasing role in the development of the Chinese insurance market. Speaking at a seminar in Shanghai, Lloyd's chief representative in Beijing, Xie Zheqiang, said Lloyd's aims to support the local market through sharing knowledge and education. “Lloyd's has been underwriting Chinese reinsurance business since the early 1970s and we expect to strengthen this relationship in the coming years,” he said. Lloyd's was among the sponsors of the London and Shanghai Blue Stocks and Skies Seminar.

Amlin upbeat despite loss
Amlin has reported a loss on ordinary activities before tax of £26.4m. However, the company said the business had performed ahead of expectations, achieving renewal rate increases on the principal commercial motor account of more than 20%. The loss has been attributed to the strengthening of reserves for Syndicate 1141.

Liberty opts for IRIS
Lloyd's syndicate Liberty Syndicate Management has signed up to use Rebus IS's international reinsurance and insurance system (IRIS). Liberty's managing director Sean Dalton said the IRIS system had been chosen for its flexibility and proven financial reporting abilities. IRIS can handle both marine and non-marine areas of business.