News
NU: Hodges steps up as Wallace steps down
Norwich Union has confirmed that intermediary business director Ken Wallace will finally retire in September this year.
Moscow Re wins Russian award
Moscow Re has been awarded the “Golden Salamander” trophy in the category of “Best Reinsurance Company” at Russia’s National Insurance Awards.
Carole Nash signs £1m deal with Misys
Following a major IT review, Carole Nash has entered into a two-year development contract with Misys worth over £1m.
AIG stock trades investigated by FBI
Federal prosecutors are investigating whether the chief executive of American International Group broke the law by engaging in stock trades to boost the insurance giant's share price shortly before his departure in March, according to the New York Times.
AM Best rates St Paul Travelers
AM Best has affirmed the financial strength rating of A (Excellent) and assigned an issuer credit rating of “a” to St. Paul Travelers Insurance Company (United Kingdom). Both ratings have a stable outlook.
Windsor reports reduction in fees and brokerage
Listed broker Windsor today reported a pre-tax profit of £1.51m for the six months ended 31 March 2005, which it described as “a good first half despite challenging market conditions".
HLN creates Yorkshire Business Unit
Heath Lambert National has formed a Yorkshire Business Unit, to build on its strong local relationships in Hull, Leeds and Sheffield.
LIME launches new GI Introducer Facility
The Tenet Group’s Lifetime Insurance & Mortgage Experts, (LIME) is augmenting its general insurance (GI) proposition with the launch of a new GI Introducer facility.
Sorrow at passing of Benson AKA "Lucky" the dog
It is with very much sadness that More Than announces that Benson, the dog that plays the role of Lucky in the company's adverts, passed away yesterday. Benson, aged 12, had played the part of Lucky since the company's launch in June 2001, and died…
Berkshire Hathaway to buy medical liability Insurer
General Electric and Berkshire Hathaway have announced that GE Insurance Solutions has entered into a letter of intent for the sale of Medical Protective Corporation, professional liability insurers for physicians and dentists, to National Indemnity, a…
Integro launches with $300m backing
Ex-Marsh executive Bob Clements has announced the launch of his new brokerage, Integro, after raising $300m for the start up.
IFRS hits Wellington for £700k
Lloyd's insurer Wellington Underwriting has restated net income for the 2004 year of account, after applying international financial reporting standards.
Towergate strengthens farming presence
The Towergate Partnership has acquired Whitchurch based David Thelwell and Company, specialists in Agricultural insurance managing approximately £1.25m of premium.
Capita sets up new company in renewed loss adjusting push
Capita Insurance Services has set up a new dedicated buiness to focus on high end corporate and complex loss adjusting.
Alec Finch acquires
Alec Finch Group has acquired Oakley Financial Solutions Limited, a Manchester based independent financial advisor.
Broker makes second 2005 buy
Broker Bryan James has acquired Bryan Insurance Services for an undisclosed sum. It is Bryan James’ second buy of the year, after joining forces with south-west London-based Fairweather Browne in January. All work will move to Bryan James’ Hayes office.
Lloyd's broker snaps-up rival
Travel insurance broker PJ Hayman & Co has bought fellow travel intermediary Venturesure.
Aviva/RAC deal imminent
Insurer Aviva is set to snap up RAC after receiving valid acceptances for its £1.1bn offer, representing 88% of the motoring giant’s share capital.
AIG woes felt at Lloyd's
Lloyd's insurer Ascot Underwriting has been impacted by the troubles at AIG, with AM Best placing its ratings under review.
AIG receives further downgrade blows
A.M. Best has downgraded the Financial Strength Ratings of most of AIG's wholly-owned insurance subsidiaries to A+ (Superior) from A++ (Superior).
RI3K supports contract certainty with fac re roll out
RI3K has announced the delivery of a fully London Market Principles compliant electronic transaction module for facultative reinsurance.
CII aims to enlist more titleholders
The Chartered Insurance Institute is embarking on a campaign to increase the number of chartered tit...
James puts focus on education
Lloyd's director of worldwide markets Julian James commended the training and development efforts of...
Know your agency: This month - Search Consultancy
Understanding the services and specialisms of recruitment consultants is important. Managing consultant Andrew Stark gives the lowdown on Search Consultancy