News
FSA lets industry off the hook on contract certainty regulation
The Financial Services Authority (FSA) will not increase its regulatory powers over the insurance in...
Wellington reports £26m loss
Wellington Underwriting has produced a pre-tax loss for the last financial year, after massive hurri...
Stormy 2006 ahead, claims hurricane chief
The 2006 Atlantic hurricane season may be worse than 2005, according to Max Mayfield, director of th...
Validus opens $300m credit facilities
Bermudian start-up reinsurer Validus has entered into syndicated credit agreements amounting to $300...
Allstate drops New York coverage
Allstate has said that it isn't renewing some of its homeowners' policies in the New York City area ...
Converium announces 2005 profit
Converium has announced it made a profit of $68.7m in 2005. The company said the results reflected a...
GEIS paper warns of increased US coastal risks
The enormous growth in US coastal population and development is dramatically increasing the potentia...
Benfield completes first G6 electronic transfers
Benfield has announced the successful completion of its first electronic transfers of reinsurance submissions using peer to peer standard messaging with some of the Group of Six (G6), the alliance of six large Lloyd’s insurers.
Aon merges Birmingham offices
Aon UK is merging its two Birmingham offices this week to bring together 180 employees in its existing location in Edmund Street.
Advent confident of trading through crisis
Advent, the specialist Lloyd’s insurer, has reported a pre tax loss of £74.8 million for the year ending 31 December 2005, translating to a loss, post tax of £52.5 million (30.6p per share).
Hiscox warns recruitment agencies may be overpaying on EL
Hiscox has warned that recruitment agencies may be paying too much for employers' liability insurance, after a recent Court of Appeal test case ruling.
Brit promotes execs as capital changes approved
UK and Lloyd’s (re)insurer, Brit has promoted key London executives and unveiled formal approval of its capital restructuring.
Munich Re scores Russian Life subsidiary first
Munich Re has said that it has received the certificate confirming registration of a subsidiary company in Moscow and will now apply for a licence to conduct business.
D&G predicts profits at top of expectations
Warranty specialist Domestic & General Group has updated investors on trading for the twelve months to 31 March 2006, prior to entering its close period.
Xchanging appoints ex-PwC boss in claims services role
Xchanging, the business processing services company, has appointed Mark Thompson as managing director of claims services. Mark will take the claims services business forward at a pivotal time for the London Market in its drive to build new efficiencies…
Larry damage moderate claims S&P
Standard & Poor's Ratings Services has said that while the impact of Cyclone Larry, which hit Far North Queensland on March 20, 2006, constitutes a major disaster for the region, it is expected to be a moderate insurance event, with insured losses at…
Groupama to replace RSA as First Assist PPI underwriter
FirstAssist is now moving to the final stage of its separation plan by replacing Royal & Sun Alliance as the underwriter of payment protection insurance with its new underwriter, Groupama Insurances. The change of insurer, which will take place by way of…
Machell takes on dual role as NU's Hodges moves to life business
Norwich Union has changed its senior management team following the decision of Gary Withers, chief executive, Norwich Union Life (NUL), to leave the company.
Heritage produces top quartile performance
Lloyd's managing agency Heritage Underwriting has announced results for its managed syndicates for the 2003 year of account and forecasts for 2004 and 2005.
Willis appoints internal legal adviser
Willis Group Holdings has appointed Eric Dinallo as general counsel. He will also join Willis’ partners group, the company’s top management committee.
Highway adds commercial motor product to Sirius
Motor insurer Highway has added a full cycle EDI commercial vehicle product to the Sirius Quotes System to increase the number of electronic trading options for brokers.
Misys GI sold for £182m to Montagu Private Equity
Misys has agreed to sell its broking software house Misys General Insurance to Montagu Private Equity for £182m in cash.
Glenda approaches North West Australia
Cyclone Glenda, which has been downgraded slightly to a category three hurricane, is due to come ashore on the North West Australian coast today.
Bad practice broker caught
Another broker may have failed to pass premiums onto insurers, leaving customers without cover, the ...