News
Reich acquires new broker
Reich Insurance today announces the acquisition of Manchester based Tidey insurance broker.
FSA predicts tough year ahead
The Financial Services Authority (FSA) has outlined concerns that increasing financial pressures may lead to firms losing focus on how they conduct business.
Equity makes Gillingham acquisition
Equity Insurance Group has acquired the Gillingham branch of Castle Insurance Consultants.
Former Marsh UK boss joins consolidator as it raises £45m for growth
Consolidator Jelf this morning announced former Marsh boss Bruce Carnegie-Brown had joined its board as it raised £45m to help grow the business further.
Jelf acquires Northern foothold
Consolidator Jelf today announced three acquisitions as it unveiled turnover rose 61.6% to £40.56m for the year ending 30 September 2007.
Negative ratings set to continue
Fitch Ratings has said in its latest report that negative ratings look set to continue in 2008.
Andy Toms passes away
Andy Toms, marketing director at CSC, has passed away suddenly.
Aon boss defects to Marsh
Marsh has announced the appointment of Carrick Lambert as managing director, Europe, Middle East and Africa financial institutions industry practice.
Axa improves online tracking
Axa has overhauled its online new business tracking in response to feedback from advisers.
Lloyd's announces 2008 capacity
Lloyd's has announced its underwriting capacity at 1 January 2008 is £15.95bn, which will be underwritten through 75 syndicates, managed by 46 managing agents and supported by 176 brokers.
Zurich signs up ex PM Blair for new role
Zurich today announced that it has signed an advisory agreement with Tony Blair, former Prime Minister of Great Britain.
Underwriting agency sets out "aggressive" growth plan
Underwriting agency, CFC Underwriting, today announced an aggressive growth plan which will see it extend both its product lines and geographic presence.
Fitch and AM Best downgrade XL, citing poor ERM
Bermudian (re)insurer XL has seen its insurer financial strength ratings downgraded by both Fitch and AM Best.
Highway re-enters market after manager appointment
Highway is to re-enter the hire and reward market during 2008 following the appointment of Nick Watkinson as its new hire and reward underwriting manager.
London market insurer appoints new claims head
Liberty International Underwriters, the subsidiary of Liberty Mutual Group, has appointed John McCammon to manage its European claims operations. As head of claims, McCammon will be responsible for claims across all product lines.
Reid: new role followed an "inclusive decision"
Stuart Reid, the new sole chief executive of Venture Preference, said that the departures of former fellow chief executives of Paul Meehan and Chris Blackham followed an "inclusive decision".
Markel announces results
Markel International has reported positive results, with a combined ratio of 93% for the year ended 31 December 2007, compared to 100% in 2006.
Blackham and Meehan depart VP
Two chief executives of Venture Preference Chris Blackham, former chief executive of Layton Blackham, and Paul Meehan, former chief executive of Smart and Cook, have both left Venture Preference with immediate effect. The remaining chief executive of VP…
Blackham and Meehan leave Venture Preference
Stuart Reid has been appointed sole CEO of Venture Preference with immediate effect. Paul Meehan and Chris Blackham, formerly joint CEOs, are leaving the company.
Marsh hits the road on claims
Marsh is undertaking a series of briefings around the UK next month on claims management for financial institutions and professional services firms. The briefings will highlight how insureds can secure the best return from their policies.
Swiss Re joins Deutsche Bank as IFEX market maker
Insurance futures exchange IFEX has announced that Swiss Re Capital Markets will make markets in the US tropical wind event linked futures contracts listed on the Chicago Climate Futures Exchange.
Fitch: SCA loses AAA rating, still on negative watch
Ratings agency Fitch has downgraded the insurer financial strength ratings on 46% XL-owned Security Capital Assurance (SCA) and subsidiaries, XL Capital Assurance (XLCA), XL Capital Assurance (U.K.) (XLCA-UK) and XL Financial Assurance (XLFA)to 'A' from …
Broker Direct stunned by death of Andrew Paddick
Commenting on the tragic news of the death of its chairman, Andrew Paddick, Broker Direct chief executive Roy Green said: "It was with the utmost sadness that we heard of Andrew's sudden death. Our thoughts are firmly with his family and all those who…
THB completes PWS swoop
THB has announced the successful conclusion of its acquisition of the Lloyd’s broking business of PWS International and certain overseas interests of the PWS group.