News
New reinsurance manager for Ecclesiastical
Ecclesiastical, which spends over £100m annually on reinsurance protection, has promoted Andrew Jones to the new role of group reinsurance manager.
Cargo Solutions sells European marine claims business
Cargo Solutions, the global provider of project cargo and cargo risk management services, has sold its European marine claims & nautical surveying business (France, Belgium, The Netherlands and Spain) to AM Group.
Australian court ruling deals a blow for DVT claims
Holiday travellers who suffer from blood clots that they think are related to international flights may not be able to receive compensation from airlines following an Australian appeal court ruling today.
FIFA wins World Cup ruling against Axa
The Cologne district court has ruled that the termination of the cancellation insurance for the FIFA World Cup in Korea and Japan last year by Axa was unlawful.
Aon chief urges UK market reform for 2004
The insurance industry must "get serious" about reform in 2004 or face losing insurance premium from corporate buyers, according to Aon's end of year market review.
AMB Generali expecting to return to profit in 2004
AMB Generali Holding, the German unit of Italian insurer Generali, is expecting to report profits up to £210m next year, aided by higher general insurance rates.
New claims director for Markel International
Stuart Willoughby will join Markel International as claims director in February 2004, with responsibility for managing the company's claims operations across all its business lines. He will join Markel from St Paul Syndicate Management where he is the…
Fitch affirms Axa ratings
Rating agency Fitch has affirmed the Axa group's major insurance entities' Insurer Financial Strength ratings at 'AA'. The Outlook on the group's ratings remains stable.
Skills Council calls for small firms to pilot new competency qualification
The Skills Council for Financial Services is embarking on a new project for managers in small firms who are responsible for training and competence. The project will pilot a new national qualification - Managing Training and Competence.
Prudential hires CEO for Asian office
Prudential's Asian subsidiary has announced the hiring of a new chief executive, with Mark Norbom set to join the firm from General Electric.
Government warranty reforms a 'missed opportunity'
The Government's decision to exclude extended warranties from statutory regulation is a missed opportunity to improve consumer protection, according to the Association of British Insurers.
Leitch to leave Zurich next spring
Sandy Leitch, chief executive officer of insurer Zurich's operations in the UK, Ireland, South Africa and the Asia Pacific region, will leave the company next spring.
Hewitt agrees sweeping changes to sales of extended warranties
Consumers will have to receive more information about extended warranties on domestic electrical goods before they buy and greater rights to cancel agreements, Secretary of State for Trade and Industry Patricia Hewitt announced today.
Chaucer completes review of syndicate 1204
Lloyd's insurer Chaucer will place professional indemnity syndicate 1204 into run-off next year having completed a review of the business it acquired from Kiln.
FSCS considering Lords appeal over Independent pay-out
The Financial Services Compensation Scheme is considering its position following today's judgement by the Court of Appeal in the case of Geologistics Limited.
Brit positive going forward
Brit Insurance Holdings said today in a trading statement that underwriting conditions in its target areas continue to be "exceptionally positive".
FSCS faces £60m payout in Indepenent Insurance case
The government's Financial Services Compensation Scheme faces a potential bill of up to £60m to cover legal costs of corporate policy holders of insolvent insurers following a Court of Appeal decision relating to the collpase of Independent Insurance.
Heath Lambert completes restructuring
Broker Heath Lambert Group has completed the financial restructuring that it announced in November.
Swiss Re reports average year for catastrophes
The past year has been an average one for global catastrophes, according to a preliminary estimate from Swiss Re.
Cox buys Marsh motor book
Cox Insurance's broking division has bought a book of rural/commercial motor business from Marsh's Private Client Services, responsible for gross written premiums in excess of £8m.
BFIS continues to grow
Bermuda-based Ram Re has joined the Bermuda Foundation for Insurance Studies (BFIS) as a pledged member, and will donate $50 000 to it over the next five years.
FSCS declares 23 firms in default
The Financial Services Compensation Scheme has this month declared 23 financial services firms in default, including Alcester-based Stone House Insurance Services and Courtlets Insurance Brokers in Oldham.
Amlin syndicate 2001 set for £1bn in 2004
Lloyd's insurer Amlin has confirmed it will have underwriting capacity of £1bn in 2004 for syndicate 2001.
Catlin to launch German subsidiary
Catlin Group has announced the formation of a German subsidiary, Catlin GmbH, which will be based in Cologne.