News
Commercial Express joins up with caterers' association
Commercial Express, the specialist underwriting agency, has launched a tailored product for mobile and static caterers, in conjunction with NCASS, the nationwide caterers association.
Esure loses ground on Direct Line and NU, claims new report
Direct Line has strengthened its position as the leading UK motor insurance provider, according to new research, Consumer Intelligence. However, brokers including Hastings and Swinton showed great improvements on 2005.
Alexander Forbes expands specialist sports team
Broker Alexander Forbes has appointed Colin Goddard to its expanding specialist sports team.
G6 agrees electronic transfer
The G6 group of Lloyd’s managing agents has today agreed to a new process using Acord data standards which will ultimately allow the electronic transfer of risk-related data and documents between group members and four leading brokers in the Lloyd’s…
Colemont appoints property and casualty director
Colemont Insurance Brokers has appointed Richard Warburton as a director in the company’s Property and Casualty division.
Hurricane strength index published
Carvill's readvisory group, a reinsurance intermediary, has today published a paper detailing a new index to measure hurricane damage. The Hurricane Damage Potential Index gives a more accurate measure of a hurricane’s potential to cause damage than…
Willis opens new France office
Willis Group Holdings has announced that its Inspace division has been strengthened by the opening of a new office in France, Willis Aerospace Consulting.
Training Foundation and FSSC drop prices
The Training Foundation has joined forces with the Financial Services Skills Council in an exclusive arrangement designed to increase the number of applicants seeking FSSC Recognised Trainer status by making the recognition process more affordable.
French media says Stone Point in frame for Axa Re purchase
French business daily Les Echos has said that it believes specialist (re)insurance private equity group Stone Point Capital is close to doing a deal to buy the active units of French reinsurer Axa Re from its parent, global insurer, Axa.
Link and Zenith complete Rubicon acquisition
Link and Zenith, the European businesses of Caribbean financial services company, Guardian Holdings, today announced that the Group has acquired the assets of Rubicon Insurance Solutions Limited’s (RISL) Maidstone operations from the Administrator.
Fortis recruits new claims boss
Fortis Insurance has recruited Richard Harris as head of motor claims.
Apil: insurers turning legal system into 'hired guns'
Insurers are dragging the legal system back to the 'bad old days of hired guns', the Association of Personal Injury Lawyers' incoming president will warn this week.
Coface gives 300 brokers accreditation
Coface UK, a leading provider of credit solutions for business, has successfully accredited nearly 300 specialist brokers from 50 companies across the UK to sell its Cashflow Trader product and introduce the Coface UK Finance Trader product on its behalf.
Alea results show £102m loss
Reinsurer Alea has announced its full year 2005 results and provided an update on its run-off strategy
Omega joins class of 2005 on A- rating
AM Best Co. has assigned a financial strength rating of A- (Excellent) and an issuer credit rating (ICR) of “a-” to Bermudian start-up (re)insurer Omega Specialty Insurance Company Limited (OSIL). At the same time, A.M. Best has assigned an ICR of “bbb”…
Former Indie underwriter in London market move
Oxygen today announced that two brokers specialising in international liability insurance are to join its Lloyd’s accredited broking operation, Oxygen Insurance Brokers.
New capital influx could lead to dramatic fall in rates
Insurers risk facing big underwriting losses in the future if they fail to introduce early warning systems to ensure underwriting discipline is maintained in the scramble to utilise the new capital raised since Hurricane Katrina, warned Metapraxis, the…
Integro appoints London compliance officer
Integro Insurance Brokers has appointed Peter Burton to the position of compliance officer at its London office.
NIG makes regional appointments
NIG has appointed two senior managers under the overall leadership of Euros Jones, NIG, head of operations.
OFT launches study into PPI
The OFT has today launched a market study to look in depth at the payment protection insurance sector. The study follows a super-complaint from Citizens Advice (CitA) to which OFT responded on 8 December 2005.
BBN book relaunched and rebranded today
The high net worth portfolio of Berry Birch and Noble was relaunched today as Private Insurance Portfolio.
Seven-day MID target is workable say brokers
More than half of UK brokers believe the Motor Insurance Database will remain workable when the deadline for delivering updated records is cut from 14 to seven days, according to research by Highway.
Odyssey Re admits material weakness after finite restatement
In a delayed filing of its 2005 annual report, global reinsurer Odyssey Re has admitted that it “did not maintain effective internal controls over the accounting for complex reinsurance transactions, which constitutes a material weakness”.
Lloyd's to open Shanghai company
Lloyd’s is to set up its new Chinese onshore reinsurance operation in Shanghai, it was announced today.