News
APIL warns over EL excuses from sole traders
Health and safety lawyers have warned the government not to excuse ‘one man band’ companies from paying employers’ liability insurance.
Annuity and Life Re finds error in Q3 2003 results
While announcing its 2003 results Annuity and Life Re has had to restate its Q3 announcement. In the third quarter the company incorrectly released approximately $3.8 million of liabilities associated with its Transamerica annuity reinsurance contract…
Barton and Benjamin team up to launch new Lloyd's brokerage
Nigel Barton, who quit Lloyd's managing agency Faraday 18 months ago after a clash of management styles, is forming a new insurance brokerage.
Lloyds TSB sees GI drop
Lloyds TSB saw its general insurance pre tax profit decrease by £33m, or 4 per cent, to £720m in 2003. This comprised a pre-tax profit of £219m (2002: £198m) from general insurance underwriting and £501m (2002: £555m) from broking activities.
Swiss Re calls for financial prudence in aviation sector
The aviation (re)insurance market could be facing a wave of insolvencies if losses continue to outpace premiums, according to the latest Swiss Re sigma report, entitled: Flight to quality - financial security in the aviation insurance market .
Weather derivatives management software improved
A new version of the Climetrix weather derivatives trading and risk management system has been launched to provide the portfolio management capabilities that are needed to participate successfully in the weather derivatives market.
Penrose blames Equitable management
The report into the near-collapse of Equitable Life has strongly criticised the former management of the company.
US D&O battleground to worsen say legal experts
High profile corporate scandals, such as the collapse of Enron, have created turmoil in the market for US directors & officers insurance, members of the International Underwriting Association were told at briefing last week.
Clark to head up new Claims Faculty
Jonathan Clark has been confirmed as the chair of the Chartered Insurance Institute's new Claims Faculty, a joint venture which has been formed by the CII following a merger with the Chartered Institute of Loss Adjusters' Society of Claims Technicians,…
S&P releases gloomier outlook for IORe
Standard & Poor’s (S&P) has revised its outlook on Inter-Ocean Reinsurance (IORe) from stable to negative.
URS studies fine art
Underwriting Risk Services (URS) has announced that it has created a new specialist fine art team.
LLGRC gets thumbs up from AM Best
AM Best has affirmed the financial strength rating of London Life and General Reinsurance Company (LLGRC) at ‘A’ (Excellent), with a stable outlook.
Pritchard completes managing agency MBO
Lloyd's underwriter Mike Pritchard has completed a management buyout of Ensign Managing Agency and with it the right to manage M.S.F Pritchard Syndicate 318. The company has been renamed Beaufort Underwriting Agency.
Allianz Cornhill Commercial expands SME offer
Allianz Cornhill Commercial has introduced two new products, Complete Property Owner and Complete Flatowner, to boost its range of “Complete” products for small and medium-sized enterprises (SME).
Employers warned over obesity claims
UK businesses must act now to counter increasing levels of obesity within the UK workforce or risk f...
Time to test yourself: A selection of questions from various past CII qualification papers
Studying for Chartered Insurance Institute exams or just want to test yourself? See how you fare with these questions - answers below
Sound advice
Careers Clinic
FSA help for broker bosses
Beachcroft Wansbroughs Consulting has developed a new service to help directors of brokerages unders...
CMGL appoints Duval to Paris
Claims Management Group (CMGL) has appointed Laurent Duval as general manager of its Paris branch.
Managing partner of Weightman Vizards in Birmingham joins Everatt & Co
Defendant personal injury specialist Tim Perry has left his position as managing partner of Weightman Vizards in Birmingham to become a partner of the Evesham-based PI firm, Everatt & Company.
Wellington profits receive boost from Aspen Re
Wellington Underwriting has announced preliminary results for the twelve months up to 31 December 2003, with operating profits up 220% to £128.2m, against £39.9m in 2002.
ERAC taken off CreditWatch
Standard & Poor’s (S&P) has taken Employers Reassurance Corporation (ERAC) off CreditWatch and affirmed its ‘A+’ financial strength rating. However, it added that the outlook was negative.
Omni Whittington appoints KPMG to aid Reliance run-off
Omni Whittington Group has appointed KPMG as scheme advisers for the run-off of Reliance National Insurance Company (Europe).
Ecclesiastical to continue cutting lines, predicts S&P
Rating agency Standard & Poor's today said that it expected Ecclesiastical Insurance to continue to “refine” its business profile and cut non core business lines. The prediction came as it affirmed the insurer’s 'BBB+' long-term counterparty credit and…