News
Lorega Claims partners with Acturis
Lorega Claims and Underwriting Services has partnered with Acturis to include loss recovery insuranc...
Small claims court in danger, says ABI
The "popular and user-friendly" small claims court is in danger of becoming obsolete unless the limi...
Aviva confirms discussions
Norwich Union's parent, Aviva, has confirmed that it is in discussions that may lead to it making an...
Axa hires flood guru for report
Axa has instructed a top climate change consultant to produce a report on the effects of flooding on...
Mini retains value better than Porsche: report
The mini retains a better residual value over a three-year period than any other car on sale in Britain, according to EurotaxGlass's.
D&D parent acquires TPA firm
Swansure Group the owners of D&D Homecare has completed the purchase of third party administrator Adminicle, for an undisclosed sum.
Berkley hires former XL US president for R/I opps
W. R. Berkley has announced the appointment of C. Fred Madsen as senior vice president - reinsurance operations.
Catlin brings in Quanta boss for New York office
Bermuda-domiciled International (re)insurer, the Catlin Group has announced the opening of an underwriting office in New York for its Catlin US subsidiary
Catlin establishes New York office
Lloyd's insurer Catlin's US operation has established an underwriting office in New York.
ABI scheme tops Commons compensation debate
The government has yet to decide on the insurance industry's proposals for a compensation body for mesothelioma claimants. At a debate in the House of Commons yesterday, the scheme's advocate Conservative MP, Oliver Heald, requested the government's…
Best affirms Axis, waits for Charman successor plan
AM Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of "A" of Bermudian (re)insurer Axis Specialty Limited (Axis) and its operating affiliates. Concurrently, the agency has affirmed the ICR of …
AWAC prices IPO
Bermudian (re)insurer Allied World Assurance Company Holdings (AWAC) has announced a guide range for the flotation price for its shares on the New York Stock Exchange. AWAC said the 8.8m common shares should start trading for between $34.00 and $37.00…
Japanese life insurers capital resources rising, claims Moody’s
According to Moody's new report, "Capitalization Improved at Japanese Life Insurers but New Risks Rising", Japanese life insurers' capital resources are in fact rising, against the backdrop of a stabilizing operating environment and insurers' efforts to…
South Korea hit by Ewiniar
Typhoon Ewiniar has struck western South Korea, with its heavy rains and strong winds bringing substantial damage across the country.
Sterling Insurance and Sterling Life’s IFs ratings upgraded
Sterling Insurance Company and Sterling Life today announced that their IFS (Insurer Financial Strength) ratings have been upgraded to A- (A minus) from BBB+ by Fitch, the global rating agency. Both companies are part of the Sterling Insurance Group.
Lloyd's climate change debate falls short says Ascot
A leading Lloyd's underwriter has criticised the market's opening debate on climate change for providing "little true weight" and predictable "rhetoric". Matthew Washington, aggregate manager at Ascot Underwriting, said of the Lloyd’s 360 Debate on…
ABI looks to debunk compensation myth
Independent research published today by the Association of British Insurers claims to show legal representation does not usually lead to higher or faster compensation.
Swiss Re to cut 2000 jobs
Swiss Re has confirmed that it will reduce its global workforce by up to 2 000 positions through lay-offs and natural attrition in the wake of its final takeover of GEIS.
Lloyd's broker announces a 25% hike in profit
Lloyd's broker THB Group this morning announced a 5% increase in turnover to £34.1 million (2005: £32.4 million) and an operating profit up 25% to £3.8 million (2005: £3.1 million) for the year ending 31 March 2006.
Lloyd's spread capital fund relaunched ahead of listing
Insurance Capital Partners, a relaunched fund providing opportunistic spread capital to the insurance industry managed by a team drawn from CBS this morning announced a planned 100m pound IPO.
Gresham backs Giles' £45m MBO
Gresham, the UK mid market private equity specialist, today announced that it has backed Chris Giles and the management in the management buyout of Giles Insurance Brokers in a deal valued at £45m.
Allianz drops Cornhill
The Management Board of Allianz Cornhill Insurance this morning announced that as from 30 April 2007, the company's legal name will change to Allianz Insurance.
CBG Group acquires broker
Manchester-based CBG Group has acquired the broker ET Knagg and Co for around £1.4m.
Fitch downgrades Swiss Re ratings
Fitch Ratings has downgraded its Issuer Default Rating and Insurer Financial Strength rating on Swiss Reinsurance Company to 'AA-' (AA minus) from 'AA+' and has removed the ratings from Rating Watch Negative.