News
Chaucer wins BiB motor agriculture contract
Broker BiB has announced a new underwriting partnership with Chaucer Insurance as part of plans to grow its agricultural motor policy market.
Charman to quit Axis over divorce proceedings
Axis Capital Holdings has reported net income of $90.1m for the year ended December 31, 2005, compared with net income of $495m for the year ended December 31, 2004. The company also revealed chief executive and president, John Charman, would retire in…
Omega rating affirmed
A.M. Best has affirmed its syndicate rating of “A” (Excellent) and the issuer credit rating of “a+” for Lloyd's Syndicate 958, managed by Omega Holdings' subsidiary, Omega Underwriting Agents.
XL Capital results hit by 2005 windstorms
XL Capital has reported a net loss of $821.9m for the quarter ended December 31, 2005, compared with net income of $288m for the same period of 2004.
Hannover Re writes 22% less US storm in overall flat renewal
Global reinsurer Hannover Re said it was “generally satisfied” with this year's treaty renewals in property and casualty reinsurance.
Lloyd's underwriter in signficant disclosure victory
The Court of Appeal today held that Lloyd’s underwriter, Goshawk, was entitled to access placing and claims documents held by brokers, Tyser, which it had previously been shown by the brokers. Last year the English Commercial Court decided that Lloyd’s…
PartnerRe takes $900m 2005 Cat losses in its stride
Bermudian (re)insurer PartnerRe has reported an operating loss of $242.6m for the year ended December 31, 2005, including an estimated $900m in natural disaster losses and $511m for Hurricane Katrina alone.
White Mountains Re gets new CEO
Bermudian (re)insurance group White Mountains, has announced that Tom Hutton is joining the company as President and CEO of White Mountains Re.
GAB culls managers in restructure
Loss adjuster GAB Robins has made a trio of senior staff redundant following Kieran Rigby’s appointment as chief executive. The cuts have been made as part of a restructure aimed at enhancing customer service and improving responsiveness, the company…
Outlaw single premium PPI policies, says Biba
Single premium payment protection insurance policies have been branded “bad value” by the British Insurance Broker’s Association, which is calling for them to be outlawed.
Broker Alan Turner appoints new chief executive
City-based broker Alan Turner has appointed Paul A Turner as chief executive of its operating companies, with immediate effect.
Arc offers identity theft and fraud protection cover
Arc Legal Assistance, the legal costs insurance provider, has launched a new service to protect policyholders against identity theft as new government estimates reveal the crime is costing the UK economy £1.7bn per year.
LCL to advise Alea run-off
LCL Group's specialist Insurance Services subsidiary has been retained by Alea to provide strategic advice and implementation support for the run-off of Alea’s London-based European and US operations.
Oxygen appoints former XL cargo underwriter
London Market startup Oxygen has appointed Guy Landymore from XL London Markets to specialise in the retail cargo market.
Benfield to defend Lloyd's action
Benfield has responded to Lloyd's decision to take action against it over the ongoing Central Fund litigation
Budget forms new business unit
The Budget Group of Companies has announced that recently launched on-line price comparison tool, Comparethemarket.com, will form the Group’s seventh business unit.
Hannover Re $370m Cat securitisation biggest ever
Hannover Re has placed a 3-year catastrophe bond with institutional investors worth some $370m.
Former JLT CEO handed new Aon role
Aon has appointed Michael Rice chairman, Aon Risk Services Americas and Steve McGill chief executive officer, Aon Risk Services Americas.
Lloyd's in new Central Fund legal action against brokers
Lloyd's today announced it has commenced legal action against brokers Aon and Benfield.
IIB calls for FSA to be more accountable
In its response to the HM Treasury consultation on proposed changes to the Financial Services Markets Act 2000, the Institute of Insurance Brokers has called for a Financial Services Authority Rules and Regulations Appeals Procedure to be incorporated in…
Lloyd's highlights new Asia opportunities
Lloyd’s has released new research which aims to provide the insurance industry with clear guidance on key developments in Asia.
Cunningham Lindsey's Fraudline wins new council client
Newark & Sherwood District Council has joined Cunningham Lindsey UK's FraudLine Service, introduced by Zurich Municipal.
CII launches faculty of underwriting
A new faculty of underwriting has been formally launched by The Chartered Insurance Institute (CII) following the inaugural meeting of an advisory board. The Faculty has been introduced to provide support to those working within the functions of…
Stolen goods database links up with Police
Swift-Find - the UK-based on-line registry of new, used and stolen valuables – has been integrated with the North Wales Police IT system, marking the first time a UK police force has integrated with a national database to automatically distribute…