News
Goshawk shareholder woes to carry on into 2009
Troubled insurer Goshawk has announced a greatly reduced loss for the 2006 year of account with $1m compared to $141m. However the board has declared the company's future is far from certain and it could be two years before shareholders see some kind of…
ABI claims victory on protection insurance regulation
Today’s announcement by the Financial Services Authority that it is to apply the same regulations to the sale of life, critical illness and income protection insurances where there is no investment will benefit many consumers, and older people in…
$600m Pentelia reinsurance venture launched in Bermuda
Bermudian (re)insurance group White Mountains has joined forces with French investment bank NATIXIS to close a new $600m fund behind a new Bermudina reinsurance start-up Pentelia Re.
Novae issues £100m debt
Novae Group has issued £100 million of medium term subordinated debt in the form of fixed/floating rate subordinated notes due 2017. The notes qualify as lower tier two regulatory capital.
FSA to update industry on retail review
The Financial Services Authority will set out the key issues for discussion on its major review of the retail distribution market at a conference on 27 June.
MMA to push commercial lines for Acturis brokers
Intermediary-only insurer MMA Insurance has announced the launch of its first product collaboration with the Acturis broker platform.
Fears over collapse as fire services tackle second London blaze
The second major fire in the space of 24 hours hit London over night as emergency services partially closed off Oxford Street over fears that a building on fire could collapse. About 50 firefighters are tackling the blaze which started just before 1900…
Catlin appoints King and Newman to head up London underwriting
Catlin has appointed Chris King and Matthew Newman to the position of business group leaders for the insurer's underwriting operations in London.
Generali reveals multi-billion euro expansion into Eastern Europe
Generali has entered into a joint venture with Czech insurer PPF Group to create "the leading life and non-life insurance group" in central and Eastern Europe.
Management shake-up at DAS
DAS Legal Expenses has announced a new management structure for its UK sales teams.
Aspen buys California quake bond and US Wind ILW
Aspen Insurance Holdings has announced two separate collateralised reinsurance contracts to protect its balance sheet against severe California Earthquake and US wind events.
CII unveils major tie up
The Chartered Insurance Institute and the Securities & Investment Institute have signed a collaboration agreement which will see the two bodies align their qualifications and share offices around the world.
Moorhouse appoints new lead director to handle MD duties
Moorhouse Group has promoted Sian Pryce as its lead director a role that sees her take on full managing director responsibilities.
Converium plays 'management exodus' card in war of words with SCOR
Swiss reinsurer Converium’s latest rebuttal of the hostile takeover bid by French rival SCOR has invoked fears of Swiss job losses and a senior management exodus should the bid win through.
Arch Europe appoints underwriting director to replace Nick Metcalf
Arch Insurance company today announced the appointment of James Weatherstone as director of underwriting. He will join the Arch Europe board.
GAB Robins in CDM regulations warning
GAB Robins has briefed its clients on the dangers of ignoring the new Construction Design and Management regulations.
IPC quarterly results up 23%
IPC has reported a net income of $77.2m in its results for the first quarter of 2007.
Kiln appoints aviation underwriter
Kiln has appointed Philippe Daouphars as its specialist aviation underwriter, operating in Continental Europe. He will join at the beginning of May.
Trade body to focus on director development
A new trade association representing non-executive directors has been launched this week. The Non-E...
CII report emphasises growing skills shortage
The Chartered Insurance Institute is calling for action to close a growing skills gap in the insuran...
Aon offers workers their birthdays off
Aon celebrated its 20th anniversary on 24 April by holding a series of community projects - such as ...
Winners and Losers
Post's monthly round-up of job cuts and gains
Pick of the Week
Anthony Gould, editor in chief, Post Magazine runs through this week’s major general insurance news i...
Budget arm seeks M&S gain with extended deal
Budget's affinity arm Junction aims to double its size by the end of 2008, and claims it can achieve...