News
Buckenham swoops for former Willis reinsurance heavyweight
JK Buckenham, the Hyperion Insurance Group's reinsurance broker, has announced that former Willis director, Robin Begg, has joined the company.
Benfield continues Fac rebuild with two London hires
Reinsurance broker Benfield has announced the appointment of Honor Jones and James Lyndon-Stanford to its global Facultative Solutions team. Ms Jones and Mr Lyndon-Stanford will be based in London and will join the company in May and July 2007…
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Anthony Gould editor in chief, Post talks about Axa's commission rates stand; the latest adjusting se...
GE Money unveils vPayment settlement tool
Online insurance booking companies will find increased control and streamlined reconciliation from the introduction of GE Money's vPayment settlement tool to the European market.
Analyst reviews Converium defence chances
As the Converium board rejected SCOR’s formal approach for the remaining two thirds of the company not already under its control, equity analysts at Keefe Bruyette and Woods (KBW) cast doubt on the Swiss target’s ability to mount a credible defence…
PwC issues pan-European run-off report
Discontinued insurance business in Europe exceeds €204 billion according to a new survey released today by PricewaterhouseCoopers LLP in conjunction with the Association of Run-off Companies.
JLT launches new JV company with broker
Jardine Lloyd Thompson has tramed up with the interdealer broker ICAP to establish a joint venture company owned equally by the two groups, to operate in areas where the market for insurance, financial derivatives and securities are converging.
XL authorises $1bn share buyback facility
Bermudian (re)insurer XL has announced the authorisation of a $1bn share repurchase program
Driving test overhaul mooted by Ladyman
An "overhaul of driver training and testing" was announced by Road Safety Minister Dr Stephen Ladyman at the Royal Society for the Prevention of Accidents' Road Safety Congress this afternoon.
Car dealer avoids FSA fine for PPI miss-selling
The Financial Services Authority has today imposed a public censure on Cathedral Motor Company for failures relating to its sale of Payment Protection Insurance in connection with vehicle finance agreements.
Lawyer warns construction industry over environmental negligence risk
Architects, engineers and other construction professionals who ignore the potential effects of climate change risk the threat of negligence claims, warns City law firm Reynolds Porter Chamberlain.
Davies appointed ops director at Aegis London
Aegis London, the UK-based subsidiary of Aegis (Associated Electric & Gas Insurance Services Limited), has appointed Sarah Davies as operations director.
Hannover Re completes Merlin €1bn R/I recoverables securitisation
Hannover Re has claimed a first in transferring the risks deriving from so-called reinsurance recoverables to the capital market.
Claimant lawyer network receives Law Soceity waiver
LawAlliance, the UK-wide network of specialist personal injury claimant lawyers, has received a special waiver from The Law Society boosting the benefits to claimants and LawAlliance members using the InterResolve Bodily Injury Claims Scheme.
SCOR moves to formal tender for remainder of Converium
SCOR has announced a tender offer for Converium’s outstanding shares.
Allianz Cornhill warns of rising tribunal awards
New compensation limits for Employment Tribunals mean that firms are exposed to increasing claims costs, warns Allianz Cornhill.
Lloyds TSB Insurance profits up 16%
Reporting alongside Lloyds TSB Group, Lloyds TSB Insurance today reported a £34m or 16% increase in Profit Before Tax to £243m in 2006.
Allianz Cornhill tackles work-related illness with new employee health promotion
Allianz Cornhill has launched a health promotion scheme, which aims to boost the physical and mental health of the company's 4,000 employees.
Petplan strengthens ties with Brooks Braithwaite
Pet insurance provider, Petplan, has strengthened its alliance with broker Brooks Braithwaite with an arrangement that will see them administering all the new and existing policies for boarding kennels and catteries.
Lucas Fettes appoint senior placing broker
Senior placing broker, Kevin Dower has joined insurance and financial specialists, Lucas Fettes and Partners as part of their continued expansion.
Limit reports 82.1% combined ratio
Limit, the largest manager and second largest provider of capacity at Lloyd’s, has announced its combined ratio for 2006 was 82.1%, an improvement of more than 12 percentage points.
RenRe funds 'Wall of Wind' hurricane damage research
Florida International University's International Hurricane Research Center (IHRC) and WeatherPredict Consulting, a US affiliate of Bermudian reinsurer Renaissance Re have announced they are to develop new wind damage research under the banner …
Employer warning ahead of mobile change
From the 27 February new legislation will impose a £60 fine and three penalty points for any driver caught using a hand-held mobile phone whilst driving.
Groupama in Optima move
Groupama Insurances has changed the cover, pricing and availability of Optima Bike – its tailored motorcycle insurance product - following a detailed review of the policy in 2006.