News
Allianz gets ratings boost
Allianz Insurance and Allianz SE have had their ratings raised by Standard and Poor’s after a series of strong financial results in recent years.
Ariel-Atrium deal sparks negative watches from Best
After Ariel Re and Atrium announced an agreed bid for the Lloyd’s (re)insurer, ratings agency AM Best has put ratings of both parties under review with negative implications.
Smart & Cook acquires Yorkits' BA Insurance Group
Smart & Cook has acquired the BA Insurance Group based in Yorkits, its 53rd acquisition to date.
Capita CMGL forms Syndicate 5500
CMGL Syndicate Management, a Capita Group subsidiary company, announced that it has formed a new Lloyd’s syndicate, Syndicate 5500, backed by CarVal Investors.
Endurance CEO joins Unitas
Mark Boucher, ex-CEO of Endurance Worldwide Insurance has joined Unitas as the chairman of the recently announced underwriting agency.
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
R3 Group completes Forces Travel acquisition
The R3 Group has completed the acquisition of the Forces Travel business and plans are underway to integrate the company with Forces Financial, R3’s specialist UK Police and Armed Forces insurance and financial services division.
Mobile Doctors Group joins AIM
Medico-legal reports provider Mobile Doctors has today joined the Alternative Investment Market.
Co-operative Financial Services to cut 1000 jobs by end of year
Co-operative Financial Services has today announced that job lossess will be “inevitable” as part of its plans to improve its operational business performance for the "benefit of its 6 million customers".
Dandridge bows out of Atrium-Ariel combo
Following the announcement of its agreed takeover by Ariel Re Christine Dandridge, active underwriter of Lloyd's Syndicate 609 and an executive director of Atrium Underwriting has informed the board of Atrium of her intention to step down from her active…
Sayers: cashflow implications of reinsurance deal
The testimony of Andrew John Sayers continued on Thursday afternoon with prosecutor Andrew Baillie QC asking the partner at audit firm KPMG what would be the impact on the cashflow of the reinsurance deal signed by Independent Insurance, writes Olivier C…
Miller scrutinises insurance buying habits
Miller Insurance Services has revealed the findings of its research into the insurance buying habits of UK and US risk managers.
LV promotes manager to head up affinity relations business
LV has appointed Michele Alcock as head of affinity relations within its partnership business.
Government launches new anti-drink drive campaign
Transport Secretary Ruth Kelly launched today a new £3M anti-drink drive campaign.
Insurance call centre bans mobiles to protect customer data
OutRight has today implemented a ban on non-essential mobile phones and other electronic storage devices - such as USB drives and iPods - in its call centre to further secure its customer information.
Ariel Re to buy Atrium for $380m cash
Class of 2005 Bermudian start-up Ariel Re has made a unanimously agreed cash offer for Lloyd's (re)insurer and managing agent Atrium for 365p a share, valuing the group at £193m ($386m).
UIB wins Essex Chamber of Commerce deal
United Insurance Brokers' UK Division has been appointed by the Essex Chamber of Commerce as its preferred insurance broker.
Alien reinsurers increase share of US market to 53%
The Reinsurance Association of America (RAA) has reported that in 2006 offshore companies’ share of US unaffiliated reinsurance premium increased to 53.1% in 2006 from 51.8% in 2005, albeit on ceded premium volume that declined 11.9% to $54.7bn.
Amlin opens up shop in Singapore
International specialist (re)insurer Amlin will open an office in Singapore after it was granted approval from the Monetary Authority of Singapore, it announced today.
Auditor takes the stand
Andrew John Sayers, partner at audit firm KPMG, took the stand today as the prosecution’s latest witness, writes Olivier C Laurent .
Chairman sought to hold back 2001 dividend
Former Independent Insurance executive chairman, Garth Ramsay, continued his testimony today after being questioned yesterday by the prosecution and the defence for Michael Bright and Philip Condon, writes Olivier C Laurent .
Brazil air crash unlikely to impact market
Insurers are counting the cost of an air disaster in Brazil in which a plane expoded after smashing into a cargo building, killing more than 200 people.
UK Broker Awards 2007 shortlist announced
Insurance Age is pleased to announce that the following companies and individuals have been shortlisted for the UK Broker Awards 2007, which will take place at The Brewery, Chiswell Street, London on Friday 14 September...