News
Broker Network secures Lloyd's status
Broker Network has announced it has received full Lloyd’s accreditation, claiming to become the first network to achieve this.
Compensation culture still hampering UK businesses, claims Aon
UK businesses and local authorities continue to be hampered by the costs of dealing with the UK’s compensation culture, and many of the causes of the problem are not being addressed by the Government’s new Compensation Bill, according to a survey by Aon.
ZFS reports profits of £2.8bn
Zurich Financial Services has reported a record operating performance for the first nine months of 2005,despite the impact of severe natural catastrophes in the United States and Europe, a company statemetn read today.
Chancellor urges insurers to reject claims
The government today took another step in its work in tackling public perceptions of a compensation culture. Lord Falconer, Secretary of State for Constitutional Affairs and Lord Chancellor, speaking at the Risk and Redress Conference in London, called…
Markel International gets rating approval from AM Best
AM Best has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to Markel International Insurance Company (MIICL). The outlook for both ratings is stable.
VAT on outsourcing D-day announced
The pre-budget report statement will be made to the House of Commons by the Chancellor on Monday 5 December.
Greenlight Re arrives in Caymans
Investment manager Greenlight Capital has formed a new offshore reinsurance company, Greenlight Capital Re, in the Cayman Islands to capitalize on growing demand for insurance products, according to company founder David Einhorn.
HSBC swoops for Howden director
HSBC Insurance Brokers has appointed Adrian Jenner who is joining from Howden.
Bermuda reinsurer deluge continues
Bermuda hedge fund management company West End Capital is about to launch a new reinsurer, Flagstone Reinsurance, according to Bermudan newspaper The Royal Gazette.
QBE closes regional office
QBE today announced it will be relocating the motor fleet claims handling operations currently based in Middlesbrough to its operation at Coval Wells in Chelmsford. The Middlesbrough will close and the non-motor claims currently handled in Middlesbrough…
Heath Lambert National appoints head of Scottish operations
Heath Lambert National has appointed Alan Carnegie as managing director of its operations in Scotland.
Rival bills for TRIA extension
In Washington two House and Senate panels have approved separate bills to extend federal guarantees to cover losses from terrorist attacks, pushing forward legislation that property owners and insurers call essential to the economy.
AM Best casts critical eye on Platinum ratings
AM Best has placed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of the reinsurance subsidiaries of Platinum Underwriters Holdings, (Bermuda) under review with negative implications. Concurrently, AM Best has…
Towergate acquires Marine & General
The Towergate Partnership has acquired Maidstone-based Marine & General, who currently manage a £1.2m portfolio of pleasure craft and related marine commercial covers. Towergate already has a presence in the craft and marine commercial sector, where they…
Moody’s rates Axis offering
Moody's Investors Service has assigned a Baa3 rating to the $200m Series B Preferred shares to be issued by AXIS Capital Holdings. The net proceeds from the offering are expected to be used for general corporate purposes. Additionally, Moody's has…
Amlin announces Bermuda team
Amlin has announced that the underwriting team for its new $1bn Amlin Bermuda operation will be headed by underwriting director, John Andrews.
Get your house in order
The Financial Services Authority looks set to crack down on the assessment of training and competence in the near future. This means it is time for brokers to make sure they are up to speed in these areas, claims Ian Jerrum
Wellington Underwriting updates its market losses
Lloyd's insurer Wellington Underwriting has updated its market losses from hurricane activity during...
£1m broker buy fund opens
Premium Credit is launching a new operation, Broker Acquisition Finance, aimed at intermediaries see...
Fortis Insurance reports over-whelming response
Fortis Insurance has reported an over-whelming response to its solutions centre initiative, with rep...
EC review set to delay VAT bill
The UK insurance industry could be spared paying millions in additional VAT on outsourced services u...
Insurer in new fraud fight plea
Ecclesiastical Insurance is urging insurers to fund research it thinks could help in the fight again...
Spotlight on income as RSA falls short
The pressure is back on Royal and Sun Alliance to achieve top-line premium growth after one city ana...
Construction loses faith in insurance
The construction sector is losing faith in insurance, singling out the professional indemnity market...