News
AM Best affirms Converium rating
Re-ratings
Shaken, not stirred
Recent tremors in Romania coincided with conferences on earthquake risk, reminding delegates that an insurance pool is a necessity in a seismicly active region
Scottish Re to acquire ING Re life business
Scottish Re Group has announced that it has agreed to acquire the individual life reinsurance busine...
Aon warns on insurance rates
The predicted level of losses from the 2004 hurricane season may not be enough to reverse the curren...
Montpelier Re announces Q3 loss
Montpelier Re has reported a net loss of $78.2m for the three months ended September 30, 2004. The loss takes net income for the nine months ended September 30, 2004 to $137.9m.
Jail term for Lloyd's abuser
Robert Damon-Aspen was jailed for two and a half years today for deception conducted through his internet-based insurance intermediary business CFT Group Insurance Services. He used the internet to take premiums from over 5000 clients without obtaining…
Zurich sells Turegum to reduce asbestos reserves
Zurich Financial Services Group has sold Turegum Insurance Company to Harper Holding Sarl, a subsidiary of Castlewood Holdings.
Long-term care insurance to be covered under FSCS
Consumers of long-term care insurance are set to receive greater protection when new requirements come into force on 31 October, making all LTCI policies subject to FSA regulation
Swiss Re report shows rise in liability systems costs
Liability systems throughout the world are growing increasingly costly, according to the latest sigma report from Swiss Re.
XL Capital subsidiary subpoenaed by Spitzer
XL Capital has announced that its subsidiary XL America has been subpoenaed by the office of New York attorney-general Eliot Spitzer.
Towergate in network launch
Towergate has launched a division providing home insurance to mortgage networks.
Winners and Losers: Post Magazine's monthly round-up of job cuts and gains
WINNERS Norwich Union announces plans to transfer 500 jobs through an outsourcing deal with documen...
Higher retirement, increased red tape
Raising the retirement age could wrap employers up in costly red tape when it comes to hiring and fi...
Torrance: India standards will match UK level
Allianz Cornhill chief executive Andrew Torrance has vowed to get the insurer's Indian operation up ...
Carole Nash launches motor trade products
Broker Carole Nash is to make its first foray into commercial lines by offering trade policies to UK motorcycle dealers, bodyshops and garages.
New reinsurance head at Glencairn
Broker Glencairn has hired Adam Fox to lead its reinsurance division.
Cornhill gets new tenants
Insurance services firm LCL Group has relocated its head office to the former home of Cornhill Insurance in the City of London
Pricing dominates Baden-Baden
By the time delegates made their way home from this week's reinsurance meetings in Baden-Baden at least some of the nervousness from the beginning of the week had been replaced by greater certainty, reports Eric Alexander for Reinsurance from Baden-Baden.
JLT confirms decision to drop contingent commissions
Jardine Lloyd Thompson has decided to stop accepting contingent commissions from 2005 onwards.
Post Magazine journalists scoop trio of gongs
Post Magazine won the Association of British Insurers general insurance publication of the year award for the seventh year in a row at the London Marriott Hotel, Grosvenor Square.
Guy Carpenter boss joins Glencairn
Adam Fox has joined broker Glencairn to lead reinsurance division. He was previously a Managing director of Marsh and on the board of Guy Carpenter London where he headed the London retail reinsurance division responsible for the UK, European and Asia…
Ace announces Marsh commissions
Ace has announced that it paid $61m in contingent commissions to brokers last year, including $38.5m to embattled Marsh & McLennan, Ace President and chief executive Evan Greenberg disclosed in a conference call announcing the insurer’s third- quarter…
Markel reports strong underwriting profits
Markel Corporation has reported net income of $1.40 per diluted share for the quarter ended September 30, 2004 compared to a net loss of $1.68 per diluted share for the same period of 2003.
McDaniel new president at Moody’s Corporation
The board of directors of Moody's Corporation has elected Raymond McDaniel as president and chief operating officer.