News
Recruitment moves
James Read has joined electronic trading service RI3K as sales and marketing manager, where he will ...
Cathedral 2010 has 'A' rating affirmed
AM Best has affirmed the syndicate rating of 'A' (excellent) and issuer credit rating (ICR) of 'a' f...
Converium gets approval for retakaful licence for Malaysia
Converium has received the approval of the Malaysian Labuan Offshore Financial Services Authority (L...
Scottish Re facing class action from Ohio AG
Ohio Attorney General Jim Petro has filed a motion in federal court in New York requesting the State...
Irish claims body reports massive savings for insurers
The Personal Injuries Assessment Board (PIAB) of Ireland, set up to reduce insurance costs, has repo...
Heath Lambert puts Spanish operations into run-off
Heath Lambert closed its Spanish reinsurance broker, Heath Lambert Interbroker (HLI), to new busines...
The biggest failure of our times
Shocked that when the 'big one' comes, most people are going to be uninsured, Mark Geoghegan argues we have a moral duty to provide earthquake cover to our customers
JLT completes £100m US sale
Jardine Lloyd Thompson has confirmed that the sale of its US-based property and casualty (P&C) insur...
Alexander Forbes launches new PI policy for accountants in run-off
Alexander Forbes Professions has launched a new professional indemnity (PI) insurance product for me...
Berkshire Hathaway-Equitas buy-out to bring finality to Names
Berkshire Hathaway has reached an agreement in principle on a structure in which National Indemnity ...
Zurich names new CEO as Stuart steps down
Zurich Financial Services has appointed Guy Munnoch to the position of chief executive officer, General Insurance in the United Kingdom, effective 1 January 2007. He repalces Ian Stuart who will retire at the end of the year.
Compliance.co.uk makes new appointment
Professor David Jackman, the founding chief executive of the Skills Council for Financial Services and former head of Training & Competence, Industry Training and Business Ethics at the Financial Services Authority has joined Compliance.co.uk Limited.
RenRe risk appetite rewarded with 'stellar' 3Q
Bermudian reinsurer Renaissance Re has reported net income of $251.1m in the third quarter of 2006 compared to a net loss of $287.3 m for the same quarter of 2005. Renaissance said the results benefited from light insured catastrophe loss activity…
FSA publishes radical proposals for move to principles-based regulation
The Financial Services Authority (FSA) has published its proposals for a radical simplification of the rules that firms must follow in carrying out investment business with customers.
Solid 3Q for Axis
Bermudian (re)insurer Axis Capital has reported net income $226.2m, for the quarter ended September 30, 2006, compared with a net loss of $468.1 m for the same quarter in 2005.
Claims People moves to City office
Claims facilities provider, The Claims People Group, is moving its London base from Southwark into new space in Lloyd’s Avenue in the City.
JLT merger leads to management restructure
Jardine Lloyd Thompson Risk Solutions has merged with Lloyd’s broker Agnew Higgins Pickering to form a new combined business, Jardine Lloyd Thompson Limited.
Brokers capable of personal lines resurgence: report
Insurance brokers could be set for a resurgence but they will have to adopt modern marketing techniques to do so, claims Defaqto in its latest report published today, “Motor Insurance in the UK”.
Broker gets almost five years for fraud
The boss of an insurance broker at the centre of an £11m insurance fraud was jailed for almost five years yesterday.
Heath Lambert attracts Aon duo
Heath Lambert's Real Estate team has been bolstered with two new arrivals from rival broker Aon.
Sturge Taylor makes play for Marsh UK yacht business
Sturge Taylor and Associates has signed a letter of Indication of Interest with Marsh, with regards to the potential purchase of Marsh’s UK Yacht business. Terms are not disclosed.
Devlin appointed to UK compensation scheme board
Ron Devlin OBE, head of claims division at the Financial Services Compensation Scheme, has been appointed to the board of FSCS as an executive director, it was announced today.
TCF having no impact on consumer understanding: report
A research paper claims to have thrown into doubt the success of the regulator's Treating Customers Fairly initiative. Docucorp has conducted research with a number of insurers and brokers in the UK, which it said proves customers' understanding of…
Max Re CEO quits as old finite wounds reopened
Bermudian reinsurer Max Re's founder, CEO and Chairman, Bob Cooney has resigned as the company reopened an internal investigation into accounting for finite risk retro contracts and advised markets that it would have to restate results a second time…