News
AIG CEO says credit market needs liquidity
The credit market is in need of liquidity if it is to get out of the doldrums, AIG’s chief executive Martin Sullivan has said.
Jubilee and Cassidy Davis in City move to allow growth
Jubilee Managing Agency and Cassidy Davis, the specialist personal lines Lloyd’s insurer, have announced their relocation to new, larger offices in the City of London.
Business and Domestic Launch “Lifestyle Protect”
Business and Domestic Insurance Services have launched a Lifestyle Protect Insurance product across the Motorway Direct Group, one of the fastest growing warranty companies in the UK since its launch in 1996.
Generali pulls out of battle for RBS
Generali has withdrawn from the race to buy the insurance arm of Royal Bank of Scotland, according to the Financial Times.
Aon settles $4m contingent commission suit with Florida
The Florida authorities have reached a settlement with Aon relating to undisclosed compensation in connection with the placement of insurance coverage on behalf of Florida policyholders.
SCA parts company with CFO Shea
Security Capital Assurance, the troubled US monoline bond insurer, has parted company with chief financial officer David Shea and replaced him with former XL CFO Elizabeth Keys.
Lockton takes JLT exec to head Singapore office
Global broker Lockton has hired Tony Mitchell to head its office in Singapore, Reinsurance has learned.
Citizens $440m cover attracts big hedge fund support
Citizens, the Florida state-owned insurer of last resort, is close to seeing a 1st June $440m reinsurance placement completed by reinsurance brokers Benfield, Reinsurance understands.
FSA seeks to improve transparency
The Financial Services Authority has published a discussion paper, which explores the creation of a framework for determining what further information the regulator might publish about firms and industry sectors.
RPC CEO steps back in shake up
Reynolds Porter Chamberlain has appointed corporate partner Jonathan Watmough as full time managing partner. Chief executive Adrian Martin steps back to advise the firm as a consultant. Richard Emanuel joins the firm as chief operating officer.
Liverpudlian broker gains chartered status
Liverpool-based broker Powell Insurance has been awarded chartered status by the Chartered Insurance Institute.
Willis takes Aon exec for US aerospace leadership team
Willis has announced the appointment of Neil Getter to the Willis Aerospace leadership team as executive vice president, Willis of New York, effective immediately.
Aon receives licence from Saudi Arabian Monetary Authority
Aon claims to be one of the first international brokers to be awarded a licence by the Saudi Arabian Monetary Authority, in accordance with the provisions of the kingdom’s Insurance Law 2004.
FSA requests further information on transparency
The Financial Services Authority (FSA) has published a discussion paper exploring the creation of a framework for determining what further information the regulator might publish about firms and industry sectors.
AIG dumped by broker
Insure and Go is to switch its underwriter from AIG to Europ Assistance just weeks after Post revealed that it was uncomfortable with the insurer adding Cuba as a destination to its list of excluded risks.
Gallagher appoints new London boss
Matthew Pike has been promoted to the position of managing director of Gallagher London.
Fresh deal for Open GI
Fresh Insurance has confirmed it is now live with Open GI having completed a full scale transfer of its trading system from previous supplier, CDL.
Markel's retail division introduces advanced online trading
Markel (UK), the retail division of Markel International, has introduced a new and advanced version of its’ online trading platform for brokers.
Biba accepts an aggregator into its membership
The British Insurance Brokers' Assocaition has called for all comparison sites to follow the Gocompare.com model as the comparison site is welcomed into Biba's membership.
Swiss Re wins Brazil licences
Swiss Re America and Swiss Re have obtianed official admitted reinsurer licences from Susep, the Brazilian insurance regulator.
Benfield invests $50m in captial markets vehicle
Benfield Group has made a cash investment of $50m into Juniperus Insurance Opportunity Fund which will be managed by Juniperus Capital.
Hawker resigns as IAG chief executive
Michael Hawker has resigned as chief executive of Insurance Australia Group.
Deloitte appoints former NU internal audit expert
Deloitte has appointed Kevin Patience as a director in its financial services practice.
DFI launches free claims service
Online insurance platform Direct Fleet Insurance has launched a free claim and accident handling service.