News
Aon reports reduction in US commercial property insurance premiums
A combination of improved investment returns for insurers and increased capacity, together with a significant absence of man-made or natural catastrophic losses in 2003, has resulted in an average reduction in premiums of 10% for buyers of US commercial…
Opus Health and Safety awarded Welsh museum contract
Leading Wales-based consultancy, Opus Health and Safety, has been awarded a three year contract to provide health and safety support to the National Museums & Galleries of Wales.
Layton Blackham Partnership reveals possible sale
Broker network the Layton Blackham Partnership has revealed that negotiations are underway for the sale of a book of business to its new company, Chambers and Newman.
Oval acquires Bland Bankart
Oval today announced that it has acquired Bland Bankart, the Leicester based insurance broker, for a mixture of cash and Oval shares.
Pool Re exempt from Competition Act for terrorism reinsurance
The Office of Fair Trading (OFT) has concluded that Pool Re’s rules for terrorism reinsurance for commercial property merit an individual exemption from the chapter 1 prohibition of the Competition Act of 1988.
Novae benefits from additional PRI recruits
Novae Underwriting has announced further underwriting appointments with general liability underwriters, Nick Ventham and Michael White joining the start up.
CII and Biba team up for regional training programme
The Chartered Insurance Institute and British Insurance Brokers’ Association have teamed up to provide a regional training programme for members of both organisations and the wider industry.
Benfield sells business to private investors
Broker Benfield has announced that it has sold of its technology subsidiary Wildnet to a consortium of private investors.
S&P withdraws ACTR from ratings
Standard & Poor’s (S&P) has announced that it has first lowered and then withdrawn the counterparty credit and financial strength ratings of Ace Capital Title Reinsurance (ACTR).
Corifrance triples profits in 2003
Compagnie de Reassurance d’Ile de France (Corifrance) has announced that it made a post-tax profit of €2.9m, almost three times the €1m it posted in 2002.
Scor applies for Chinese reinsurance license
Scor Group has applied to the China Insurance Regulatory commission (CIRC) for a reinsurance licence.
Fusion Insurance opens regional office in Manchester.
Fusion has opened a regional office in Manchester.
Zenith extends full cycle EDI capacity on commercial vehicle product
Zenith has announced that the full cycle development of its Commercial Vehicle product has now been completed with Sirius for PMB (Unix) and Aquarius users.
AST plans to double staff
Graduate placement consultancy A Sure Talent is set for significant expansion this year on two separ...
Know Your Rights: This month - Religious Discrimination
David Fleming explains what new legislation on discriminating on the basis of religion or beliefs means for employee rights
Less than 10% of company directors are women
Fewer than one in 10 company directors in developed countries are women, according to a new survey. ...
Elements moves to new City base
Elements, the financial services recruitment specialist, has opened a new City office at 148 Leadenh...
SSP launches compliance solution
Software Solutions Partners (SSP) has launched a range of compliance modules called 'Compliance Connect', which will be available to its customers from April onwards.
Tillinghast warns of lack of workers' compensation capacity
The private insurance industry for workers’ compensation would not have sufficient capital to survive potential losses from a major terrorist event without federal help, according to a new report by Tillinghast.
Vega acquires second firm
Acquisitional broking group Vega Insurance Services has acquired Birmingham-based Thompson Rudd Group.
Capita set to seal run-off contract with NU
Capita Insurance Service is in advanced discussions with Norwich Union to deliver the run-off business of national broker Hill House Hammond. It follows extensive and detailed selection process.
Von Bomhard fixes on profitable future for Munich Re
Nikolaus Von Bomhard, the new chairman of Munich Re’s board of management, has said that the group’s objective for 2004 is a net profit of €2bn.
FSA blames resources for not acting over Equitable's Ranson
The Financial Services Authority said it would not take any action against Roy Ranson, former chief executive of Equitable Life because it would not be a good use of resources.
Global reinsurance market outlook still negative, says S&P
Standard & Poor’s (S&P) has published a new report that states that the ratings outlook for the global reinsurance market remains negative.