News
Lloyd's syndicate drops Saudi lawsuit
Lloyd’s syndicate Riverstone Managing Agency (3500) has dropped its $215m lawsuit against Saudi Arabia in which it planned to sue the kingdom for funding the 9/11 attacks.
Tedstone joins Giles senior management team
Giles Insurance Brokers has appointed Andy Tedstone as group development director within the senior management team, he will join Giles from Jelf on 22 September 2011.
Underwriters ignore jurisdiction "forgotten risk"
Underwriters have been criticised for failing to acknowledge the wrong jurisdiction can erode profit margins, delegates at the International Association of Engineering Insurers' conference were told.
Luzzi elected next president of Ferma
Jorge Luzzi, group risk management director for Pirelli worldwide, has been elected the next President of the Federation of European Risk Management Associations.
Defaqto publishes white paper
Following the recent gender directive ruling by the European Court of Justice, Defaqto’s white paper, published today, on how motor insurers can control risk in the young driver market, asks whether the next step could be to stop insurers structuring…
Torus acquires Broadgate
Torus has entered into an agreement with Clal Insurance Enterprises Holdings to acquire London-based Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.
MPLC expands D&O panel to Aspen
Specialist liability insurer, the Medical Professional Liability Company syndicate 4000 has added Aspen Managing Agency syndicate 4711 to its directors’ and officers’ liability underwriting facility.
ABSs could drive down motor claims costs
Alternative Business Structures could be used by the sector to “revolutionise” motor claims processes, yielding savings for insurers, brokers and their customers, according to Tim Roberts, senior partner of Parabis and Eddie Longworth, managing director…
Canopius promotes Webb and Sandle
Specialist insurer Canopius has made two promotions in its marine & energy division.
Canopius promotes two in marine and energy
Canopius Group has promoted two members of its marine & energy division.
Denney O'Hara marks colleague's 40 year service
Tributes were paid to personal lines broker Judith Fryer to honour her 40 years of dedicated service to Denney O'Hara insurance.
Stable rating outlook for Dutch insurance sector
The rating outlook for the Dutch insurance sector is stable, indicating that a vast majority of Dutch insurer ratings are likely to be affirmed over the next 12-24 months.
Simon Burley elected new CILA president
At The Chartered Insurance Loss Adjuster’s annual general meeting on 14 September 2011, Simon Burley was elected as the new president of the CILA – becoming the institute’s 50th president.
RSA’s Tomlinson to prepare RBSI sale
RBS Insurance has poached RSA’s group legal director Humphrey Tomlinson to be general counsel and company secretary to prepare the business for sale.
RSA promotes Heiss to legal chief
RSA has promoted Charlotte Heiss to the role of head of group legal at its group corporate centre.
XL Insurance expands middle market
XL Insurance is to expand its middle market offering to UK companies with a turnover between £25m and £250m. It will include international coverage if required.
Keelan Westall expands broker club
Keelan Westall claims to have expanded its Prestige Broker Club for brokers - generating £150 000 of premium – up by almost 20% since the spring.
RPC raids Cameron's Bristol insurance team
Four of CMS Cameron McKenna's partners from the insurance reinsurance group team in Bristol have resigned for RPC.
AM Best withdraws ratings of B&B Insurance
Ratings agency AM Best Europe has downgraded the financial strength rating of B&B Insurance Co (Belarus) to C- (Weak) from C (Weak) and issuer credit rating (ICR) to “cc” from “ccc+”.
Aviva reviews Downton Abbey adverts
Aviva says it is reviewing critical comments about its TV advertising campaign after Downton Abbey viewers complained about the insurer’s sponsorship and series of TV ads on Sunday night.
FM Global’s Bosman to retire after 40 years
Ruud Bosman, vice chairman of FM Global, is to retire in November after 40 years with the company, where he worked his entire career.
Earthquake hits India
A magnitude 6.9 earthquake occurred in the region of Sikkim, India, on 18 September.
Lloyd's syndicate sues Saudi for financing 9/11
Lloyd’s insurance syndicate 3500 Riverstone Managing Agency, has launched a landmark legal battle against Saudi Arabia, accusing it of indirectly finding al-Qaeda and demanding the repayment of £136m it paid out to victims of the 9/11 attacks.
Questgates grows its counter fraud team
Loss adjuster Questgates has made three new appointments to its counter fraud division field force.