| Excerpt: |
Mr. Murphy was also secretary of the Bermuda Commodities Exchange (BCOE), the short-lived marketplace for hedging and investing in catastrophic insurance risk that was a joint venture between AIG, Chase Manhattan, Guy Carpenter and Marsh.
At the time of pulling the plug on the BCOE in 1999, Mr. Murphy told Web-based newsletter InsideBermuda: “It never covered its expenses, not by any means, compared with what we put into it.”
|
