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FSA decides against enforcing mandatory commission disclosure
The Financial Services Authority's has formally confirmed 'industry guidance' status on the market solution in respect of conflicts of interest, disclosure and transparency in the commercial insurance sector for intermediaries.
FSA rules against mandatory commission disclosure for now
The Financial Services Authority's has formally confirmed 'industry guidance' status on the market solution in respect of conflicts of interest, disclosure and transparency in the commercial insurance sector for intermediaries. The British Insurance…
Homeowners cut contents cover by up to a third
British homeowners have cut the value of their home contents insurance cover by up to a third over the last year in an attempt to save money, according to Kwik-Fit Insurance.
IPC to pay Max Capital $50m if it breaks merger deal
Bermudian (re)insurer IPC may have to pay Max Capital a termination fee of $50m if it cancels its all-share deal with its Bermudian rival in favour of Validus' takeover proposal, Reinsurance can reveal.
New insurance software platform launched
Towers Perrin has released a new risk management software platform for the insurance industry.
Max Capital says IPC merger plan has 'better long-term growth prospects'
Max Capital's chief executive Marty Becker has said that its all-share merger with Bermudian rival IPC Holdings will offer shareholders better long-term growth prospects than yesterday's Validus offer.
RPC grabs senior (re)insurance lawyer from Eversheds
Law firm Reynolds Porter Chamberlain said it has recruited David Webster as a partner from Eversheds to join its market leading Insurance & Reinsurance practice.
UK reinsurance renewal prices up 5%, say Aon Benfield
UK reinsurance renewal prices are up by around 5%, according to Aon Benfield.
UK reinsurance renewals up 5%, say Aon Benfield
UK and European reinsurance renewal prices are up by around 5%, according to Aon Benfield.
Japan rates at 1 April up 5-10% - Aon Benfield
Japan's reinsurance rates on April 1 rose by 5-10%, research from Aon Benfield has shown.
FSA sees improvement in KFD standards
The Financial Services Authority (FSA) has announced the outcome of its review of the quality of Key Features Documents (KFDs).
Government quizzed over future role of FSA
The Government was yesterday questioned about the future role they envisage for the Financial Services Authority in light of the problems experienced by the Dunfermline Building Society and Lord Turner's report.
Broking group reports 182% jump in profit
Brightside Group, the insurance broking and financial services business, this morning reported profit from continuing operations increased by 182% to £6.2m (2007 £2.2m). Revenue increased by 42% to £33.2m (2007 £23.3m).
Lloyd's insurer bolsters US footprint with deal
Beazley has completed the acquisition of the entire share capital and all renewal rights of First State Management, US underwriting manager specialising in surplus lines commercial property insurance, from the Hartford Financial Services Group.
FSA proposes ban on social networking sites
The Financial Services Authority has called for a ban of social networking sites such as Twitter and Facebook for all its regulated and authorised firms.
IPC to review Validus offer
Bermudian (re)insurer IPC Holdings has said it will review the $1.68bn takeover offer from rival Validus.
Swiss Re to cut staff levels by 10%
Swiss Re intends to reduce its current global headcount of 11, 560 by approximately 10% over the nex...
Asbestos - Symptomless asbestos-related conditions
Not surprisingly, following the decision in Johnson v NEI that damages were not recoverable for pleu...
DeSantis slams AIG over 'betrayal'
Jake DeSantis, an executive vice-president of AIG's beleaguered financial products unit, has spoken ...
Wasa v Lexington - Judgment day
Robin White of Addleshaw Goddard - which acts for Wasa - reviews the crucial issues in advance of the House of Lords hearing in the UK
Bermuda Reinsurance composite posts monster net loss for 2008
The companies in Guy Carpenter's Bermuda reinsurance composite posted an aggregate net loss of nearl...
Opinion - Predicting a busy future
What will happen in 2009 in the run-off sector? Mairi Mallon asked Maik Wandres, chief executive of Global Re UK, to look into his crystal ball to see what the year could hold for his sector during current uncertain times