News
Insurecom Launches Training-On-Demand
Insurecom has announced the start of its new SkillBase Training Academy.
Benfield report shows mixed signals from Europe
As reinsurance rates begin to ebb, those European companies unencumbered by recent problems started to outpace their peers in the first quarter of 2005, according to the latest European Reinsurance Quarterly report from Benfield.
Hartford subpoenaed again by Spitzer
Hartford has received an additional subpoena from New York Attorney General Eliot Spitzer's office concerning the Company's broker compensation arrangements in connection with the sale of group annuity products.
New research pinpoints car insurance quotes
New research commissioned by branch-based broker Swinton reveals that, on average, the optimum time needed to find the most competitive car insurance quote is 55 minutes and 11 seconds.
Moody’s upgrades Liberty Syndicate
Moody's Investors Service (Moody's) has upgraded the Syndicate Performance Rating of Lloyd's syndicate 4472 -- Liberty Syndicate Management -- to B Average from B- Below Average.
Towergate completes acquisition ton
The Towergate Partnership has announced its 100th acquisition with the purchase of Westinsure Webb.
SEC subpoenas continue
Philadelphia Consolidated Holding (PCH) has confirmed that it has received a subpoena from the Securities and Exchange Commission (SEC).
US terrorism insurance system vulnerable, claims report
The terrorism insurance system in the US is failing to provide businesses with adequate financial protection, leaving the nation vulnerable to economic disruption if there is a major terrorist attack, according to a new RAND Corporation study.
UIA Insurance seeks new pet provider
UIA, the insurer that specialises in serving trade union, charity and friendly society members has terminated its pet insurance agreement with Paws Pet Insurance, a division of Jardine Lloyd Thompson.
Mondial wins travel TPA contract with Liv Vic
Mondial UK has won a contract to provide Liverpool Victoria Travel Insurance. Under the new agreement, Mondial is providing every aspect for a fully branded travel insurance and medical assistance service to Liverpool Victoria customers.
QBE restructure sees managers leave
QBE Europe have today announced a shake up of its non Lloyd’s business resulting in a number of senior departures.
Hiscox appoints former Co-op chief to board
Hiscox has announced that Sir Mervyn Pedelty and Mr Adrian Auer will join the board as non-executive directors on 1st July 2005.
J&M Acquires Protector to Consolidate Black Cab Market
Epping-based J&M Insurance Services (UK), the private and public hire broker, has acquired black cab specialists Protector Policies, as part of its growth strategy.
S&P raises GKA rating
Standard & Poor's Ratings Services (S&P) has raised its long-term counterparty credit and insurer financial strength ratings on Germany-based property/casualty insurer Gerling-Konzern Allgemeine Versicherungs-AG (GKA) to 'A-' from 'BBB+'. At the same…
Thomas, Carroll Group posts 33-year high results
Thomas, Carroll Group, the Welsh broking and financial services group, has posted its best financial results since its foundation in 1972 and points to local claims handling and rejection of the call-centre culture as its reasons for success.
IUA looks to boost London reform programme
International Underwriting Association today announced its member companies are submitting market placing slips to a voluntary audit in a bid to boost London’s business process reform programme.
Ace subpoenaed in finite risk probe
Ace has reported that it has received a subpoena from the United States Attorney for the Southern District of New York as part of an investigation into finite risk insurance products.
Lloyd's insurer in failed bid changes adviser
The board of Omega Underwriting has announced the appointment of Cenkos Securities as its sole nominated adviser and sole broker with immediate effect.
Hardy rejects two approaches, but remains in talks with potential suitor
Lloyd’s insurer Hardy this morning confirmed it had rejected a approach by Omega Underwriting.In a statement it added: “Further to the recent press speculation, the board of directors of Hardy confirms that it did receive an approach from Omega…
Dale given MD role at L&G general insurance
Jane Dale has been appointed managing director of Legal & General’s general insurance operations from 1 July 2005.
Pacific typhoon activity forecast above average, claims TSR
Typhoon activity in the northwest Pacific will be above average during the 2005 storm season, according to the latest forecast from Tropical Storm Risk (TSR).
RSA shares fall after Corvus backs down from bid
RSA shares this morning dropped to 81.5 pence on the news that Corvus Capital would not follow up its interest in the company with a firm bid.
Corvus drops RSA interest after resistance from insurer's management
Corvus Capital, the takeover vehicle of financier Andrew Regan, this morning confimed it has abandoned tentative plans to bid for Royal & Sun Alliance Insurance Group, as predicted by Post Magazine (PM, 16 June, p2).
Finite reinsurance investigation subpoenas continue
Two Bermuda-based reinsurers have received subpoenas from the US attorney for the Southern District of New York relating to finite reinsurance.