News
EC director urges wider industry participation
Elemer Tertak, director of financial institutions directorate for the European Commission, urged the...
Appointment at Reynolds Porter Chamberlain
Tim Brown is to succeed Paul Nicholas, who retires on 1 May, as senior partner at Reynolds Porter Ch...
MBO to result in sales push
National Accident Helpline will expand its advertising across the internet and other non- traditiona...
Tories woo insurers with tax promises
The Conservative Party has launched a charm offensive on the UK insurance industry, with London's Ci...
RSA ups regional assault
Royal and Sun Alliance has launched an offering for large regional companies. Contour is aimed at b...
Stand-alone terrorism insurance drop
With the exception of a few notorious hotspots, overall rates for stand-alone terrorism insurance ha...
Lloyd's not blown off course by hurricanes
Up to half of the syndicates in Lloyd's managed to produce profits in the 2005 calendar year, contri...
Esure market share slips
Direct motor insurer Esure has defended its position after a market report claimed its market share ...
Brokers made Conservative peers
Two high profile broking figures have been made working peers.
Avon Insurance wins High Court battle over injury claim
The Blackburn Rovers have lost a High Court battle to win multi-million pound damages claim over a career-ending back injury to forward Martin Dahlin.
PXRE downgrades continue as S&P lower ratings
Standard & Poor's Ratings Services has lowered its counterparty credit ratings on PXRE Group and PXRE Corp. to 'B+' from 'BB-' and removed the ratings from CreditWatch negative where they were placed on Feb. 16, 2006.
Glacier Re gains Mexican reinsurance licence
Glacier Reinsurance has announced that it has received a licence to write reinsurance business in Mexico. The licence, which was granted on 29th March, covers all areas of non-life reinsurance.
PXRE ratings downgraded again by AM Best
AM Best has announced that it has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Very Good) and the issuer credit ratings (ICR) to "bb" from "bbb-" for the reinsurance subsidiaries of the PXRE Group.
Lawyer warns of new staged accident hot spots
Crashes at roundabouts are now a serious and persistent menace where motor fraud is concerned, according to a leading insurance expert.
OFT probe could radically transform PPI industry
The Office of Fair Trading’s investigation into the £5.4bn payment protection insurance industry could radically transform the way in which key PPI players do business. Banks, credit card companies and insurers will need to be prepared for intense…
K&W passes 30th anniversary
Hampshire-based broker Keelan Westall is celebrating its 30th birthday year in business. Established on 12 April 1976, the commercial property insurance broker enters its fourth decade with almost 100 employees and gross annual income of £30 million.
FSA in 'easy-to-use guidebook' pledge
The Financial Services Authority claims to have designed a personal guidebook for all financial firms containing only relevant information which works by answering ten questions about their business.
New claims post at Highway
Motor insurer Highway has appointed Lee Radley to the newly-created position of claims relationship manager. Mr Radley’s role will include acting as trouble-shooter and management point-of-contact for all brokers and intermediaries in respect of Highway…
Fusion makes Glasgow appointment
Fusion Insurance has appointed Andrew Fleming to executive manager of its Glasgow office.
Endsleigh signs Arsenal deal
Broker Endsleigh has teamed up with Arsenal Football Club to form a new partnership; Arsenal Insurance Services.
FSCS declares 31 firms in default
The Financial Services Compensation Scheme has declared a further 31 firms in default.
SAB Capital ups stake in Lancashire
Bermuda-based institutional reinsurance investor SAB Capital has revealed that it has increased its holdings of Bermudian (re)insurance start-up, Lancashire Holdings.
RAM Re files for $200m Nasdaq IPO
Ram Holdings, parent of Bermudian financial guarantee proportional reinsurer Ram Re, has filed for an IPO to raise approximately $200m.
Swiss Re embedded value goes up
Swiss Re has announced that the embedded value of its life and health business increased significantly to CHF 20.1bn in 2005, up from CHF 17.1bn in 2004. Operating profit from existing business grew 38% to CHF 1.5bn from CHF 1.1bn in 2004, and returns on…