News
Plus One launches age-related MPPI
White label insurance provider PlusOne Insurance Solutions has launched an age-related mortgage payment protection insurance available exclusively to it’s “own brand” partners.
Cullum names first broker buy
Recently launched acquisition vehicle Cullum Capital Ventures has announced its first broker purchase - Moffatt Saunders based in Ware in Hertfordshire.
Towergate creates new £150m specialty division
Towergate has signed a number of senior staff to operate its new sales and service division which will service high volume and low premium specialty business including military cover and caravans.
FSA unveils plans for GI
The Financial Services Authority today set out further details of its post-implementation review into the effectiveness of its general insurance conduct of business regime. The regulator added the review is being conducted in line with the FSA's move…
RSA to cut 1000 UK jobs
Royal and Sun Alliance has revealed it is to cut 1000 UK jobs in a bid to be more profitable.
Inter Resolve completes IT system roll-out
InterResolve, the independent claims resolution specialist, has announced that a bespoke case management system, developed to its specification by Eclipse Legal Systems, has been delivered and installed.
Henderson makes board appointments
Henderson Insurance Brokers has made a number of internal promotions and a series of external appointments.
Folksamerica Re downgraded by AM Best
AM Best has downgraded the financial strength rating of Folksamerica Re to A- (Excellent) from A (Excellent) and the issuer credit rating (ICR) to "a-"from "a". The rating has been placed under review with negative implications.
Plumeri calls for Federal disaster solution
Willis Chairman and CEO Joe Plumeri has called for a federal solution to help US (re)insurers prepare for natural or man-made disasters.
Allianz Cornhill acquires Home and Legacy Insurance Services
Allianz Cornhill Holdings plc has completed the purchase of the Home and Legacy Insurance Group - the specialist mid to high net worth household insurance intermediary.
Olympus capital exhausted by White Mountains reserves shock
The fate of Bermudian reinsurer Olympus Re effectively hangs by a thread today as its principal cedent, White mountains discovered enough new 2005 losses to wipe out Olympus’s remaining capital.
RSA creates new strategy and marketing role
Royal & SunAlliance has appointed Gordon Henderson as strategy & marketing director. Reporting to the UK chief executive, Bridget McIntyre, Mr Henderson will join the company on 10 July 2006.
Public and private healthcare will integrate say experts
Academics, economists and insurers have joined together in predicting an inevitable shift to an integrated healthcare provision in the UK, fusing the resources of the public and private sectors.
Cunningham Lindsey receives RoSPA award
Loss adjuster Cunningham Lindsey has received an Occupational Health & Safety Award for 2006, from the Royal Society for the Prevention of Accidents.
MMA hires Brierley from CII on mission to double income
Intermediary-only insurer MMA Insurance has appointed Paul Brierley as head of business development.
Equitas settles claims with Hartford
Equitas has announced that it has reached a comprehensive settlement of policies existing between The Hartford Financial Services Group, and those Underwriters at Lloyd’s reinsured by Equitas.
Max Re listing saga nears close
Max Re Capital has announced that, after filing its delayed Form 10-Q for the three months ended March 31, 2006 with the SEC on June 8, 2006, the company has been notified by the Nasdaq staff that its filing delinquency has been cured and the Nasdaq…
Allied Fort adopts broker branded QuoteMac
UK insurance broker Allied Fort has adopted a white label version of Anglo Pacific Consultants’ on-line SME underwriting system, QuoteMac. The system is used by more than 1,000 brokers in the UK and was recently upgraded by APC to enable brokers to white…
Shake-up at the top of XL Capital
XL Capital has announced a management restructuring, with the current president and chief executive officer, Brian O’Hara, appearing to take a back seat from a new executive office.
Australian group buys out new Lloyd's syndicate
Whittington Group has agreed to sell its newly formed Lloyd’s Managing Agency and specialist Asian syndicate, Alba, to Insurance Australia Group.
AIA clashes with NAIC over foreign collateral
Despite the strong objections of US insurance companies, state insurance regulators have taken action that will lead to reducing the capital that secures the insurance policies US consumers depend on to help recover from losses, according to Phillip…
Beazley planning far eastern push
Beazley has increased its stake to 100% in Asia Pacific Underwriting Agency Limited, a Hong Kong based insurance underwriting agency, that sources business throughout Asia from brokers.
Kiln winning pension deficit battle
Lloyd's insurer Kiln has reported that its pension deficit has been reduced by over £20m in the past eighteen months.
Broker helps charity launch cover for lung cancer sufferers
Those who are affected by lung cancer and find it difficult to get insurance because of their pre-existing medical condition are set to benefit from a new insurance service launched by The Roy Castle Lung Cancer Foundation.