News
Barbon builds up its property people
Barbon Insurance has appointed Ben Wright as head of business in its property and commercial division at its Bordon-based offices.
Ex-Guy Carpenter trio return to market with start-up Atlas
Three of the mergers and acquisitions team ousted from Guy Carpenter have returned to the market with the start-up of corporate advisory team Atlas Partners.
Former Guy Carpenter MD unveils start up
A new insurance-focused corporate finance advisory practice has been unveiled today. Called Atlas Partners it is led by managing partner Paul Lumbis, formerly managing director of Guy Carpenter corporate finance, Europe.
Marsh warning as diamond and platinum prices spiral
Marsh has warned jewellery collectors of the risk of underinsurance in the wake of spiralling diamond and precious metal prices.
AM Best affirms XL Capital's financial strength ratings
AM Best has removed from under review with negative implications and affirmed the financial strength rating of A (excellent) and issuer credit ratings of “a” of Bermuda-based (re)insurer XL Capital (Bermuda) and its members.
AM Best affirms XL Capital's financial strength ratings, outlook
(BESTWIRE) US ratings agency A.M. Best has removed from under review with negative implications and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of Bermuda-based (re)insurer XL Capital (Bermuda) and…
New forms of public-private partnerships needed to deal with climate change risks - Swiss Re
A Swiss Re executive said new forms of public-private partnerships will be needed to deal with risks related to climate change.
Aon eyes more acquisitions after Benfield deal
(BESTWIRE) Swallowing up the third-largest reinsurance broker in the world widens Aon's lead as the world's largest insurance and reinsurance intermediary and gives it a dominating presence in several key reinsurance markets, and that might only be the…
Aon warns no leasson learnt over Krakatoa
Aon has warned that 125 years after the eruption of Krakatoa business and governments have not learnt the necessary lessons to protect themselves and their interests against such forces.
Benfield price surges 27.49% on Aon bid
Benfield's share price ended the day on 345 pence following the news of Aon's £844m bid for the company.
West Midlands broker signs deal with Open GI
Bromwich Insurance Consolidates onto Open GI Bromwich Insurance is to trade all its business via the Open GI platform following a software house review.
Allianz, Catlin, Amlin all on Madrid plane crash
Allianz may have a significant insurance share of Wednesday's plane crash in Madrid, a senior source has told Reinsurance.
Credit insurers could withdraw cover for construction business
The construction sector could be refused credit insurance, which covers bad debt following the insolvency of a customer, according to Aon Trade Credit.
Garwyn loss adjuster launches expert investigation service
Loss adjuster Garwyn has launched an investigation service. Peter Wilson, head of the company's new operation said: “The nature of loss adjusting services has evolved as a result of the softer market and reduced claims numbers. While many clients still…
Schools targeted for scrap
Ecclesiastical has warned that schools countrywide could have been taken advantage of over the summer months and could be missing some key materials upon the return of students.
Benfield CEO expects no exodus after Aon takeover
Aon group chief executive Greg Case has said that the takeover of Benfield will form a combined group that is “very unique.”
Aon CEO Case: Aon - Benfield combination unique
In a deal announced late August, Aon said that it would offer $1.75bn (£935m) for the deal – which will take on £91m in Benfield debt, giving the deal a total value of £844m ($1.57bn).
Benfield directors set for £134m windfall after Aon deal
Benfield's directors are set for a monster windfall after the completion of the company's £844m takeover by rival Aon.
Questgates tackles fraud
Questgates is launching a new, dedicated counter fraud division which, in addition to delivering and developing new services, will also offer specialist surveillance services.
Confused boosts home and motor panels
Price comparison site Confused has added five new insurers to its home and motor insurance panels.
GAB looks to Aon for new TPA boss
GAB Robins has named Julien Hampson as director of third-party claims administration operations.
Recession fears as UK economy fails to grow in second quarter
The UK economy came to a grinding halt in the second quarter of this year with 0% growth raising fears it could fall into recession or perhaps already is.
Aon/Benfield deal could lead to more deals in next few years
The acquisition of Benfield by Aon could lead to a further raft of takeovers of Lloyd's vehicles, a senior analyst at a US bank told Reinsurance .
IAG reports A$261m loss,
IAG has reported a net loss after-tax of A$261m (2007: net profit of $552m) for the year ended 30 June 2008 including nearly $400m (after-tax) of restructuring and impairment charges.