News
Primary outlines "corrective action" after downgrade
Primary Insurance Company, the Dublin based insurer for the Primary Group, has outlined the remedial action it plans to take after been rated B following a review by ratings agency AM Best.
Catlin gets Wellington greenlight
Catlin has announced announce that its offer for Wellington is being declared unconditional as to acceptances and that all required regulatory approvals have been received.
Zurich decides on Endsleigh future
Zurich today announced today the signing of an agreement for the purchase of all remaining shares in the broker Endsleigh.
Primary Insurance Company receives downgrade
A.M. Best has downgraded the financial strength rating to B (Fair) from B++ (Very Good) and the issuer credit rating (ICR) to “bb+” from “bbb”of Primary Insurance Company Limited (Ireland). The under review status of the ratings applied in June 2006 has…
Mapfre Italian acquisition sees rating unchanged
Standard & Poor's Ratings Services said today that its ratings and outlook on entities of the Spanish Sistema Mapfre insurance group are unaffected by its acquisition of 50% of the agency-based motor operations of Società Cattolica di Assicurazione …
Former Alea chief Cane to take the reins at Whittington
Whittington Group, the insurance investor and services provider, has announced that Stephen Cane has been appointed chief executive Europe to lead the group’s strategic growth in the UK and Continental Europe.
Ex-Wellington head of risk Gittings to be new boss at LMA
The Lloyd’s Market Association has appointed David Gittings as chief executive.
PI scheme provider promotes rate benefits
UKGI has launched a professional indemnity insurance scheme that it claims could reduce premiums to some members by more than a fifth.
Talbot poaches Wellington and Creechurch teams as it announces 6% capacity rise
Lloyd's underwriter Talbot is increasing the capacity of its Syndicate 1183 to £325m for the 2007 year of account. This represents an increase of 6% over 2006 capacity of £307 million.
Arista completes Bristol underwriting teams
The new commercial lines underwriting operation Arista has announced further details of its Bristol office, which was opened last month under the leadership of South West regional manager David Aslin.
New FSA websites for small firms
The Financial Services Authority (FSA) has published a suite of new web pages aimed specifically at small firms to help them understand more principles based regulation in terms of Treating Customers Fairly.
Deloitte: Motor insurance premiums fell in 2006
Motor insurance premiums for new business have fallen by 2% so far this year according to the latest Quarterly Motor Insurance Market Report by Deloitte.
Windsor MBO delayed until New Year
Lloyd's broker Windsor has said its potential takeover by management will be concluded either way by the end of January.
Groupama wins race to acquire Carole Nash
Groupama UK has confirmed that it has today completed the purchase of the share capital of Carole Nash Insurance Consultants Limited for an undisclosed sum. The acquisition has received formal regulatory approval from the FSA.
£1.3bn Lloyd's merger avoids date with competition regulator
The UK's Office of Fair Trading announced this morning not to refer to merger of Lloyd's underwriters Catlin and Wellington to the Competition Commission.
Bermuda hikes registration fees 260% to pay for new BMA staff
The Bermuda Government has passed a bill increasing Bermuda Monetary Authority fees for banks, trusts and insurers to help fund 30 new globe-trotting regulators.
Catlin unveils expansion plan
Catlin has announced planms to establish four new European offices in early 2007 in Paris, Barcelona, Zurich and Innsbruck.
Aon in liability plea
Aon today urged UK businesses to take part in the Department for Environment, Food & Rural Affairs consultation on the EC Environmental Liability Directive.
Crawford appoints casualty technical manager
Crawford & Company UK has appointed Mark Perkins as a technical manager in its casualty division based at the company’s Ipswich office.
Swinton in major merger move
Swinton Group is merging with internet motor insurance broker its4me.co.uk.
Indian legal reforms slow Lloyd's expansion plans
Lloyd's plans to expand its business in India have been delayed, the corporation said today.
Hannover Re rating unchanged at AM Best following sale
A.M. Best has commented that the financial strength rating of A (Excellent) and the issuer credit rating (ICR) of “a” of Hannover Re will remain unchanged following the company’s announcement that it has agreed to sell Praetorian Insurance Group to QBE…
S&P improves outlook on Canopius
Standard & Poor's has revised its outlook on Canopius Managing Agents - Syndicate 4444 to positive from stable. At the same time, Standard & Poor's affirmed its Lloyd's Syndicate Assessment of '2+' (high dependency) on the syndicate.
Gallaghers and Nymex launch property insurance futures trading
Gallagher Re, the specialist reinsurance intermediary and advisory firm, and the New York Mercantile Exchange (NYMEX), the commodities exchange, today announced that they have reached an agreement whereby NYMEX will list for trading and clear Property…