News
New report concludes four in five claimants satisfied
The latest results of an industry-wide survey highlight that while customers expect and demand better service from their insurance provider, more than 80% of claimants are satisfied with the recent claims service that they received from their insurer and…
SME underwriting agency outlines 2007 capacity
SME insurance underwriting agency Anglo Pacific Consultants has secured £20m in underwriting capacity for its 2007 book of business.
Swiss Re sells gherkin
Swiss Re has agreed to sell its London office building, 30 St Mary Axe [known also as the Gherkin] to an affiliate of the real-estate corporation IVG Immobilien AG for 600 million pounds. The transaction is expected to close in February 2007.
BIBA and K Drewe Insurance Brokers Launch BIBA’s First Caravan Insurance Scheme
The British Insurance Brokers’ Association (BIBA), in partnership with K Drewe Insurance Brokers, has introduced a new BIBA Caravan scheme.
AXIS Capital annouces Kyrill losses
The winter storm Kyrill is believed to have cost Bermuda-based reinsurance company AXIS Capital $40-$55m, it announced today.
S&P downgrades Florida Cat Fund debt
Rating agency Standard & Poor's has lowered its ratings on Florida Hurricane Catastrophe Fund's (FHCF) debt in the wake of the state’s new hurricane reform bill signed into law by Governor Charlie Crist on January 25th.
Indecision over IT legacy costing insurers millions says report
New research by the Economist Intelligence Unit suggests that the insurance industry could miss out on achieving huge growth potential due to indecision on how to deal with the cost and complexity of existing IT and legacy systems.
RSA signs affinity deal with Derbyshire Building Society
Royal and Sun Alliance has announced that it has been appointed by Derbyshire Building Society as the sole provider of its buildings, contents and creditor insurance policies.
FSCS quadruples levy on general insurance intermediaries
Insurance intermediaries will be required to stump up £2m for the prospective levy from the Financial Services Compensation Scheme in 2007/8, four times as much as the previous year. However, general insurers will have nothing to pay for the second year…
Drivers should face seat belt penalty says survey
Drivers should be given penalty points if they are caught not wearing a seat belt or fail to ensure their passengers are belted-up, according to a survey by Allianz Cornhill.
Transatlantic buoyant after fourth quarter results
Transatlantic Holdings Inc has announced that its combined ratio for 2006 has tumbled below 100 after pulling in record profits.
XL surprises with magnitude of Kyrill loss
Bermudian (re)insurer XL has surprised analysts by unveiling loss estimates from windstorm Kyrill of $60m to $75m.
SBJ acquires Northern firm to improve UK footprint
Broker SBJ Group has acquired the entire issued share capital of S G Ingram for an undisclosed consideration.
Firstassist appoints Healthcare MD
FirstAssist Services, the health & wellbeing business, has appointed Ian Sparks as its managing director. At the same time other appointments to the FirstAssist Services board have also been confirmed. Sir Tim Chessells has become chairman and Tim Ablett…
London market hails electronic success
Upgrades to the recently-launched electronic processing system at Lloyd's could mark the final nail in coffin for paper dockets.
Miller swoops for JLT and Fleming execs
London-based (re)insurance broker Miller has announced that Patrick Cooper and Simon Barnes have joined the firm.
COVER: Editor's highlights
Johanna Gorntizki, editor of COVER provides a quick guide to some of the major stories in the health and protection sector this month, from plans by Fortis to enter the sector, through to the latest onPTA and an update on COVER's Promoting Protection…
Ace warns against political risks
Global businesses need to adopt formal structures to assess the ongoing risks posed by political instability and unrest in emerging markets if they are to protect their growing investment in these areas, according to leading international and speciality…
Groupama in MMA swoop
Groupama Insurances has boosted its frontline team with the appointment of three new key account managers to increase the level of support offered to its brokers. Paul Cavanagh, Paul Cousans and Simon Hurt have all joined Groupama from business…
British Insurance launches new PPI products
British Insurance has launched a new range of payment protection products specifically designed for the broker market by Assurant Solutions.
Brit revamps personal lines suite
Brit Insurance has widened its product suite and personal lines offering with the launch of its enhanced Advantage home insurance policy.
Quinn Direct in surprise swoop for leading UK insurer book
Quinn Direct is set to buy health insurer Bupa's Irish operation. The move will safeguard 300 jobs at the insurer's Cork office.
Axa in new household push
Axa has launched a new home insurance product designed for the mid net worth customer.
Axa warns over £60m retirement claims threat
UK employers could be sued up to £60m in backdated discrimination claims for forcing people to retir...