Insurer
Steve McGill to head up Aon business
Aon has appointed Steve McGill, former JLT CEO, as CEO of a new global large corporate business unit aimed at the largest global corporations.
NU: Hodges steps up as Wallace steps down
Norwich Union has confirmed that intermediary business director Ken Wallace will finally retire in September this year.
RSA: McIntyre in as Boyle goes
Royal & Sun Alliance has today confirmed that Bridget McIntyre will become UK chief executive and a main board director subject to regulatory approval. Her appointment follows UK chief executive Duncan Boyle's decision to retire from RSA after 32 years…
Aviva receives 56.8% issued share capital of RAC
Aviva has announced that it has received valid acceptances to a total of 67,495,276 RAC ordinary shares representing approximately 56.8% of the issued ordinary share capital of RAC.
Willis looks to the East
Willis Group Holdings has announced that it has acquired the remaining 30% of the shares it did not already own of Willis Polska, its Polish subsidiary.
US asbestos bill faces committee battle
The authors of a US bill to compensate asbestos victims have said that they are confident it would attract enough support to advance to the Senate floor and beyond, despite opposition in both parties.
DTI: union membership fell by 36,000 in 2004
The number of employees who are members of unions has decreased, according to a new report from the ...
Former ABI head Francis to join Aviva
Aviva today announced that Mary Francis is to be appointed to the board of Aviva as an independent non-executive director.
Lloyd's records "unthinkable" profits claims Levene
Lloyd's today announced a £1.36bn profit for 2004, something chairman Lord Levene said would have been “unthinkable” a few years ago given the catastrophe losses it suffered.
Legal services reform backed by RAC
Motoring giant RAC today welcomed the statement by Lord Falconer, The Lord Chancellor, committing the Government to reforming the legal industry, following publication of Sir David Clementi's review last December.
Amicus urges Aviva caution
Financial services union Amicus has urged Aviva not to make any compulsory redundancies if its £1.1b...
Greenberg departure confirmed by AIG
AIG has announced that Maurice “Hank” Greenberg has been replaced as the chief executive of the group.
Sullivan set to replace Greenberg claims WSJ
Maurice Greenberg plans to step down as chief executive officer of AIG as early as this week according to the Wall Street Journal, although no sources are identified.
AM Best ratings unchanged for Aviva
AM Best has announced that the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” on the rated companies of AVIVA (United Kingdom) remain unaffected following the announcement of the 2004 year results and the acquisition of…
NU results: general insurance profits up 47%
Aviva has recorded worldwide operating profit up 25% to £2.34bn including an a 47% increase in general insurance profits to £1.32bn.
NU touted as possible RAC bidder
City analysts have placed Norwich Union parent Aviva in the frame for RAC, after the insurance and roadside recovery giant revealed it had received an approach "that may lead to an offer to buy the business."
Heath Lambert in board shake up
Heath Lambert Group has announced the retirement of Ian Martin, executive chairman. His retirement coincides with his 70th birthday.
Lloyd's honours US brokers for outstanding achievement
Lloyd’s of London has announced the winners of the 2005 US Broker Awards.
Zurich extends Bradford & Bingley deal
Zurich's Personal Insurance business has secured a three-year extension of their long-standing deal with Bradford & Bingley to supply household insurance for their block policies.
RBSI profits jump, blames Churchill for combined ratio rise
Royal Bank of Scotland Insurance’s contribution to the group's profits increased by 42% (£253m) to £862m for the 12 months to 31 December 2004. These figures included the first full year’s contribution from Churchill, which was acquired in September 2003…
Swiss Re announces good renewals
Swiss Re’s continued focus on profitable underwriting achieved attractive rates in the January renewal. Premium volume decreased slightly by 2%.
Partner Re reports increased earnings for Q4 2004
PartnerRe has reported net income of $143.7m for the fourth quarter of 2004. This net income includes net after-tax realized gains on investments of $16.1m. Net income for the fourth quarter of 2003, including net after-tax realized gains on investments…
Hiscox acquires Alex Forbes business
Hiscox has acquired Insurex Expo-Sure, the specialist insurance provider to the conference, event and exhibitions market. Hiscox will acquire 100% of the operation, from Alexander Forbes.
Re AC steps closer to relaunch
Reinsurance Australia Corporation (Re AC) has announced that the Australian Prudential Regulation Authority (APRA) has removed the directions which were imposed on Re AC when the Company went into run-off in 2000. This follows the completion of APRA’s…