News
QuestGates appointed to Teachers panel
Loss adjuster QuestGates has been appointed, along with Cunningham Lindsey, to be the adjuster for Teachers Assurance Company.
National forms alliance with Hiscox for high net worth
National Australia Group’s UK insurance division, National Australia Insurance Services, has launched a high net worth home insurance product in conjunction with Hiscox.
Towergate acquires HHH specialist scheme business
Towergate Underwriting Group is about to acquire part of Hill House Hammond's specialist scheme business for an undisclosed sum, reports Insurance Age ( http://www.insuranceage.com ) .
Spending spree at Arthur J. Gallagher
Arthur J. Gallagher’s acquisition strategy has continued with the purchase of Texas based The Romine Group. Terms of the transaction were not disclosed.
Catlin float expected soon
Lloyd’s insurer Catlin is preparing to come to the market in the next few weeks with an estimated capitalisation of £700m to £800m, according to reports.
Aon releases film risk map
Broker Aon/Albert G Ruben has released an innovative global risks in filmmaking map.
Court rules on HIH contracts
The New South Wales Supreme Court has approved a deed that will return approximately Aus$300m to the liquidators of collapsed Australian insurance company HIH.
£5bn wasted on employee benefits
Almost £5bn a year is being wasted on undervalued employee benefits, healthcare scheme administrator...
J&M plans to double staff
Underwriting agency J&M Insurance Services is looking to increase its staff numbers from 50 to just ...
Munters launches web-based learning school
Property damage restoration firm Munters has launched a web-based 'school' for its managers. The co...
Know your rights: This month - Equal Pay
With pay differentials between the sexes continuing, David Fleming spells out the legal position
Risk management body warn school trips could cease over litigation fears
Alarm, the national forum for risk management in the public sector, today warned that traditional school trips could be abandoned because those in charge fear the prospect of being blamed for accidents.
Hannover Re issues more hybrid capital
Hannover Re has successfully placed a subordinated bond debt issue of €750m in the European capital markets. The bond, which was issued via its subsidiary Hannover Finance, was oversubscribed several times.
DTI launches new flood tool
A new device to raise the profile of the risks and effects of flooding around the UK was launched by the Government’s chief scientific adviser Sir David King today.
Groupama reduces dependence on shrinking UK GI business
French insurer Groupama today reported that its British business had implemented its policy of refocusing on its core business and increasing risk selectivity in order to restore profitability, while announcing its group results for the year ended 31…
Central Re gets stable rating from AM Best
Taiwan-based Central Re has been given a financial strength rating of A- (excellent) by AM Best, along with a stable outlook.
Zurich CEO claims second spot in corporate market
Zurich chief executive officer James J Schiro today declared that its return to profitability was based its “strong emphasis on the fundamentals of underwriting and claims management as well as on tight cost and expense controls”.
Zurich Financial Services reports improved results
Zurich Financial Services has reported increased income for the 2003 calendar year, with $2.1bn (£1.1bn), against a $3.4bn loss for 2002.
Zurich Financial Services ratings unchanged following in-line full-year results
Standard & Poor's (S&P)Ratings Services said today that its ratings and outlook on Switzerland-based Zurich Financial Services (ZFS) group (core operating entities rated A+/Stable/A-1) are unchanged by the group's release of strong 2003 year-end results.
Tracker expands reach to Spain
Vehicle recovery specilaist Tracker has extended its reach to Spain, following its recen t move to France. Tracker claims Spain’s proximity to the UK makes it a potential hiding place or “black market” for stolen vehicles.
RBS Insurance reports jump in income and premium following Churchill takeover
Royal Bank of Scotland Insurance today announced that it had increased its income income by 52% (to £1106m) and contribution by 32% to £468m (2002 - £355m). After reinsurance, RBS Insurance said its premium income increased 62% or £1167m to £3061m.
IRGC go ahead for first general secretary
The Geneva-based International Risk Governance Council (IRGC) has confirmed the appointment of Christopher Bunting as its first general secretary.
NAICOM warns on recapitalisation
Nigeria’s National Insurance Commission (NAICOM) is urging (re)insurance companies in the country to make sure that they comply with new recapitalisation provisions.
Senior appointment at HBOS Insurance and Investments division
HBOS has hired Kate McIntyre in a new role as commercial director for its insurance and investment division.