Insurance Post Staff
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NY Attorney General accuses AIG CEO Liddy of bonuses 'cover up'
The Office of the New York Attorney General has written to Edward Liddy, chairman & CEO of AIG, accusing it of a cover up over detailing bonuses paid to employees.
Low inflation demonstrates value of flexible protection policies, says Skandia
Comprehensive protection products can provide more flexibility for clients in the current economic climate than cheaper off-the-shelf policies, says Skandia.
Allianz poised to grow fraud teams
Allianz Insurance is set to recruit a number of new employees to bolster its technical and operational fraud teams.
PI claims costs hike will hit insurers, says Weightmans
Insurers need to brace themselves for an above-inflation increase in personal injury claims costs and make sure they update their reserves accordingly when amended regulations come into force next month, according to law firm Weightmans.
Arch Insurance Europe expands into Lloyd’s
Arch Insurance Company (Europe), a subsidiary of Arch Capital Group, has established a new syndicate at Lloyd's. The syndicate will commence underwriting from mid-March this year for risks attaching from 1st April onwards.
Arch says to start new Lloyd's Syndicate
Bermudian (re)insurer Arch has confirmed that it has received from Lloyd's to establish a new syndicate at Lloyd's.
Aspen names new FI head as Fox goes
Aspen Re has replaced its head of financial institutions underwriting head Adrian Fox and replaced him with former SVB chief executive Rupert Villers.
Charles Taylor opens New York office
Charles Taylor Adjusting has announced the further expansion of its global network with the opening of a new office in New York.
Glacier recruits senior underwriter from Arch
Glacier continued to ramp up its underwriting when it announcement the recruitment of a senior property underwriter from Arch.
Paris Re results drop 42%
Paris Re's full year net income dropped nearly 42%, dropping to $158m from $271.7m.
CCV makes acquisition
Cullum Capital Ventures has acquired the general insurance business of KF Garner & Company based in Warrington.
Heath Lambert attributes exceptional new client wins to income growth
Insurance broker Heath Lambert has reported earnings before interest, tax, depreciation and amortisation (EBITDA) remains at £17.5m in its key trading highlights for the year ended 31 December 2008.
Allianz criticises structural issues in unsustainable retail sector
Allianz Insurance has reported an increase in commercial lines GWP to £918.6m (2007: £906.2m), while its retail arm dips to £612.6m (2007: £624.2m).
Reinsurance's March Madness details revealed
Reinsurance Magazine is doing a "March Madness" group for the upcoming NCAA Tournament.
AIG reveals monster payouts to banks from bailout
AIG has said that it paid out billions from its emergency US government bailout to pay off counterparties of its credit default swap and securities businesses.
Pembroke hires new underwriter from Axis
Pembroke Managing Agency is pleased to announce the appointment of Chris Newton to head up its media and technology team.
Axa's household line launched on Acturis platform
Axa has made its core household products available to users of Acturis.
Arista opens Birmingham office
Arista Insurance has opened its sixth office to support Birmingham and Midlands-based brokers.
CBG reports 17.5% rise in pre-tax profits
Manchester-based broker CBG Group has reported a 49.9% increase in revenue to £11.15m (2007: £7.44m).
CCV LAS enters rental market
Arc Legal Assistance has been appointed by CCV Letting Agents Solutions to provide landlords legal and rent guarantee protection claims handling services after CCV LAS launches into the rental market.
Arag acquires network
Arag, the Bristol based legal insurance specialist, has strengthened its position in the after-the-event market with the purchase of leading intermediary ATE Ltd for an undisclosed sum.
Credit hire firm warns on volumes
Accident Exchange has outlined the results of its cost saving efforts in an interim statement this morning.
Agnew Higgins Pickering founder takes deputy chair role at broker
Tony Pickering has joined Glencairn Energy as deputy Chairman. He will report to Alan Brooks, chief executive of Glencairn Energy.
AEG chief says promoter 'would be willing to self-insure' for Michael Jackson concerts
AEG's chief executive has said that the concert promotions company would be willing to self-insure Michael Jackson should there be a shortfall in coverage for the singer for all of his concerts, the Daily Telegraph has reported.