News
ACE fund-raising continues
ACE has announced that Citigroup Global Markets and Goldman Sachs have exercised their option to pur...
Glacier Re raises capital to pay for hurricane damage
Glacier Re has declared that existing shareholders have subscribed for additional equity of $100m th...
Former Gen Re CEO gets Wells Notice
Berkshire Hathaway has said the former chief executive of its General Re unit could face action from...
AIG executive arrested for bribery
An executive in an investment branch of American International Group (AIG) has been indicted on ...
Fitch changes German outlook
Fitch Ratings has changed its outlook on German life insurers to 'stable' from 'negative', reflectin...
Capita confirms partnership with The Claims People
Capita Insurance Services has confirmed that it has agreed an alliance with The Claims People Group as reported by Post Magazine last week related to its volume loss adjusting provision.
Crawford meets Carlisle victims
Loss adjusters from Crawford & Company have attended a meeting for victims of the Carlisle floods.
Takaful Re appoints board
Following its inaugural first Board Meeting, Takaful Re has announced the appointment of its chairman, vice chairman, chief executive and chief financial officer.
Katrina hits Max Re Capital Q3 results
Max Re Capital has reported a net loss for the three months ended September 30, 2005 of $41m, compared to a net loss of $9m for the three months ended September 30, 2004.
New Financial Services Academy given green light
Education secretary Ruth Kelly and Trade and Industry secretary Alan Johnson announced today that the Financial Services Skills Council has been successful in its bid to create a National Financial Services Academy.
AM Best affirms Partner Re France rating
AM Best has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of PartnerRe S.A. (PartnerRe SA) (France). The outlook on both ratings remains stable, in line with the outlook of its ultimate parent company…
Hiscox profit hit by revised hurricane hits
Hiscox said this morning that its estimated loss from Hurricane Wilma was $45m. It has also revised its estimates from previous hurricanes. Hurricane Katrina is now estimated to have cost $125m, up from $15m, although estimated loses from Hurricane Rita…
AIG Europe introduces new product
Insurer AIG Europe (UK) claims it will ‘revolutionise’ group personal accident and travel insurance with the introduction of its new product, lifeline plus.
Capita enters exclusive talks over loss adjusting arm future
Loss adjuster The Claims People has revealed that it has entered into talks with Capita Insurance Services with regards to "the provision of volume loss adjusting services".
Allianz Cornhill opens new office
Allianz Cornhill has opened a new commercial sales office in Cardiff. The base will source and handle new business enquiries with existing business continuing to be administered in Bristol.
Wilma bill could reach $12bn
Risk Management Solutions has increased its estimate for U.S. insured losses from Hurricane Wilma to $8bn (£4.5bn) to $12bn (£6.72bn) from its original estimate of $6 to $10 billion.
Loss adjuster boosts Irish team
GAB Robins has strengthened its team in Northern Ireland with a number of senior appointments.
CII to raise the bar
The Chartered Insurance Institute (CII) has launched a new Continuing Professional Development (CPD) scheme, which it claims will 'revolutionise' the way competence is maintained and 'raise the bar' of professional standards.Launched by the CII following…
FSA announces consumer council chairman
The Financial Service Authority has appointed Adam Phillips as the vice chairman of the Financial Services Consumer Panel from 1 November. Mr Philips takes over from Dianne Hayter who stood down at the end of September 2005.
HCCD hires Grant from Forbes as underwriter
HCC Diversified Financial Products has announced the appointment of Julia Grant who has joined HCCD as an Underwriter from Alexander Forbes.
Endurance posts Q3 loss
Endurance Specialty Holdings is the latest company to be battered by Hurricane Katrina, as it reported a net loss of $377m for the third quarter of 2005 versus net income of $26.8m for the same period of 2004.
General Motors settles with Equitas but RSA pursuit continues
Equitas and General Motors Corporation have reached a comprehensive settlement agreement. This agreement settles all claims by GM, including any North American third-party asbestos and pollution-related liabilities, against underwriters at Lloyd’s of…
Quanta updates hurricane loss estimates
Quanta Capital Holdings has announced an update of its preliminary loss estimates for hurricanes Katrina and Rita.
Spotlight on ... restructuring
People should not feel victimised if their company is being restructured and jobs are under threat - there can be exciting career possibilities even in the most adverse of circumstances, says Cressida Wilkie