News
Cooper Gay sells stake in business
The Cooper Gay has announced that SC Insurance and Risk Services, SGPS, a subsidiary of the Portuguese corporation Sonae SGPS, has agreed terms for the acquisition of approximately 14% of Cooper Gay with an option to increase its holding to 28%.
Brazil insurers say reinsurance prices to fall in 2008
Prices in the Brazilian reinsurance market are set to come down when the market is finally opened up in 2008, according to a leading market figure.
FSA warns of TCF clampdown
The Financial Services Authority has reported an increase in commitment by senior management to the principle of Treating Customers Fairly but warned firms who have failed to engage that they face tough action.
SSP unveils £43.4m swoop for Sirius
Broking technology providers SSP has announced plans to acquire Sirius in a deal worth £43.3m.
Ferma responds to IPCC climate change report
Climate change will grow in importance for risk managers as the fight against global warming intensifies following the latest report of the Intergovernmental Panel on Climate Change, according to Marie-Gemma Dequae, president of the Federation of…
Assurant Solutions enters Irish market
Assurant Solutions today announced its entrance into the Irish Insurance market, part of the organisation’s long-term strategy of developing and underwriting niche insurance products in European markets.
Economies of scale will protect top five GI players says AM Best
AM Best has said that underwriting profitability in the U.K. non-life market may not be sustained in the next year. The rating's agency said in its latest report: "The third largest market in the world, is dominated by these top five companies—Aviva,…
CII pushing chartered status for broking firms
Chartered status for broking firms is being introduced by the CII.
Aggregator business pushes CDL growth
Independent software house CDL has reported consolidated turnover of £14.6m for the year ending 30th September 2006, up 15% from £12.7m in 2005. In the same period, its profit before tax grew 12.4% to £2.9m.
Independent Insurance trial news
Post Magazine, Reinsurance Magazine, Professional Broking and Insurance Age have established a special website dedicated to the forthcoming trial of the three former directors of failed UK insurer, Independent Insurance - Michael John Bright, former…
Defendants seek to join Thameside as second indexation case goes against insurers
The Judgment in Corbett v South Yorkshire Strategic Health Authority was handed down by His Honour Judge Bullimore earlier today. Kennedys, instructed by the NHS Litigation Authority, represented the Defendant.
DCA proposes widening eligability for claimants
A consultation paper proposing changes to parts of the civil law on damages was published today by the Department for Constitutional Affairs.
Unitas planning MGA start up
Unitas Alliance has announced plans to launch an underwriting agency following its latest AGM
Ecclesiastical in management shake up
Key members of the Ecclesiastical Insurance management team will assume new responsibilities designed to strengthen Ecclesiastical’s organisation for the future. New director appointments will be made for areas of finance, risk, technology, marketing and…
Collins opens capital markets arm
Privately-held US reinsurance broker Collins has formed a new subsidiary, Collins Capital Advisors, to provide investment banking advice and capital markets services to its clients.
Protection market reprieve as government refuses redundancy insurance scheme
The government has rejected plans by Coventry South MP Jim Cunningham to establish a national wages and insurance scheme. In Parliament yesterday, Mr Cunningham asked parliamentary under secretary of state for trade and industry Jim Fitzpatrick, whether…
Sheikh opposes insurer-backed funding of terror compensation scheme
Lord Sheikh is attempting to remove insurers from the equation over compensating UK victims of terrorism overseas.
Brit sells control of Ri3K for £8.3m
Brit the international (re)insurer, has ended months of speculation by announcing that it has sold a 56 per cent stake in risk placement technology provider RI3K to a consortium of investors comprising, investment fund Eton Park LLP, investment banking…
Evolution and Allianz Insurance to provide fleet cover
Evolution Underwriting and Allianz Insurance have joined forces to provide motor fleet insurance to selected brokers. Launched this month, the product is aimed at Evolution's existing small to medium-sized enterprise client base.
Argent expands med mal capabilities with new hire
Argent Liability Adjusters has hired Katie Caris-Harris to join its professional liability team in London.
Axis extends Australian Stardex agency deals
AXIS Specialty Europe has extended a three-year underwriting agreement with Australian specialist professional liability underwriting agency Dexta for a further two years until 2010 to and has signed a new deal to provide capacity for fellow member of…
Insurers 'labouring' under multiple accounting standards
PricewaterhouseCoopers has welcomed the publication by the International Accounting Standards Board of a discussion paper about the future of insurance accounting.
Higos acquires Mike Deverell Insurance
Higos Insurance Services has acquired Mike Deverell Insurance Services, also based in Somerset.
Novae appoints specialist FI underwriter
Novae has hired a financial institutions underwriter for emerging markets and commercial crime in the UK regional market.