News
Argo merges US divisions
Argo Group, the Bermudian (re)insurer, it has merged its specialty niche insurers, Grocers Insurance and Great Central Insurance, under the brand name Argo Select.
Ace appoints vice-chairman
Ace Limited, the Switzerland-based reinsurer has said that Brian Dowd, CEO, Insurance – North America, has been named to the additional position of vice chairman, Ace Limited and Ace Group Holdings.
First American launches new fire product
First American Spatial Solutions, the spatial and natural hazard risk solutions subsidiary of US company First American Corporation has launched its Fire Protection Classification (FPC) solution.
Medicess welcomes UKRC standards
Medicess has welcomed the introduction of the UK Rehabilitation Council's standards.
Post pick of the week
Reporter Leigh Jackson looks at the major news stories from this week's Post: FSA authorisations hit low point; Norwich Union brings jobs back to the UK after closing Indian service centre; Homeserve puts emergency services division up for sale; Groupama…
Fitch gloomy on Russian insurance sector
Fitch Ratings has assigned a 'Negative Rating' outlook to the Russian insurance sector, reflecting the expected negative impact of deteriorating insurance market conditions due to the rapid slowdown in Russia's economy and continuing volatility of…
AIG to pay $800m to damaged investors
The Securities and Exchange Commission, the US regulator, has said that a federal court has approved the distribution of more than $843m to harmed investors in the American International Group, Inc. from a Fair Fund that the SEC established after the…
Cooper Gay boosts terrorism team by hiring ex-Lockton director
Cooper Gay, the leading independent wholesale, reinsurance and specialist retail insurance broker, has appointed Ian Barnes to its terrorism and political risks team.
Allianz sees UK profit drops slightly to £41.1m in Q1
Allianz Insurance has reported a drop in operating profit (before tax) of £ 41.1m (Q1 2008: £ 43.3m) for the first three months of 2009 on gross written premium of £ 393.8m (Q1 2009: £ 383.3m).
ABI director general Haddrill to step down for new role
The Financial Reporting Council (FRC) has announced that Stephen Haddrill will succeed Paul Boyle as chief executive of the FRC and will be appointed as a member of the FRC Board.
Lloyd's insurer Chaucer strikes deal
Chaucer Insurance has announced that from 18 May 2009, Autoglass will be the preferred supplier for all its customers requiring any glass repair or replacement work on their vehicle.
Scottish broker aims for £20m by 2011 after Giles hire
Aberdeen-based H&R has appointed Al Robertson to the position of commercial insurance advisor. He previously worked for Giles Insurance Brokers in Aberdeen and is the sixth new appointment for H&R Insurance in 2009.
Rehabilitation standards for the UK launched
Rehabilitation standards designed to protect the quality of care provided to people who require clinical and vocational rehabilitation have been launched at Westminster.
AIU Holdings in new infrastructure product launch
AIU Holdings, the new P&C off-shoot of stricken US insurer AIG, has launched a product for US States receiving funds from the US Government to build large-scale infrastructure projects.
Allstate says will not participate in US TARP program
Allstate, the US insurance giant, says that it will not participate in the US Government's bail-out program.
Cardinus launches dedicated SME website
THB Group's risk management subsidiary Cardinus has today launched a new dedicated ecommerce website focused on the SME market.
Lloyd's expands in to Portugal
Lloyd's has received an establishment licence in Portugal allowing its underwriters to appoint coverholders to write establishment business in the region.
Homeserve to exit emergency services business
Homeserve is to stop providing emergency services due to difficult economic conditions.
Swiss Re publishes Solvency II tips
Swiss Re has today published a series of recommendations to improve the recognition of risk mitigation techniques in Solvency II framework as a means to better managing capital efficiency.
Hardy reports Q1 premium income jump
Hardy Underwriting, the Bermuda-domiciled Lloyd's (re)insurer, said that premium income has gone up 33% in the first three months of the year.
Moody's raises outlook for The Hartford
Moody's has raised its outlook on beleagured US insurer The Hartford, the beleagured US insurer to 'developing' from 'negative' after the company said that it will not sell its Property/Casualty and life operations.
IPC reacts to new Validus offer
IPC has said that it will review Validus' revised offer, but has urged its shareholders not to take Validus' offer until it has made its recommendation.
Validus ups IPC offer
Validus has increased its offer for Bermudian reinsurance rival IPC Holdings.
Towergate assigned Moody's rating
Rating agency Moody's has assigned a B3 rating to Towergate Partnership after rating the company for the first time.