News
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.
Europ Assistance ties up claims outsourcing with Citybond Suretravel
Europ Assistance is opening a dedicated claims unit for its major corporate client, Citybond Suretravel. This news follows a recent two-year extension of the contract between the two organisations.
NIG adds two new products to its online network
Brokers will be able to access two new products on NIG’s on-line commercial quote system as of today. Business from Home and Hotel are the latest additions to NIG Network.
S&P affirms rating on Standard Life
Standard & Poor's Ratings Services has assigned its 'A' long-term counterparty credit and insurer financial strength ratings to UK-based life insurer Standard Life Assurance and its 'BBB+' long-term counterparty credit rating to Standard Life PLC, the…
BDMA appoints new director
The British Damage Management Association is delighted to announce the appointment of Jonathan Davison, a past chairman of the BDMA and formerly chief executive of Chem-Dry UK Ltd, to a newly created post of director of strategic development
Lloyd's broker confident of 15% market share with new joint venture
Lloyd's broker Howden has opened a new venture in Miami.
Colemont appoints aviation manager
Colemont Insurance Brokers has appointed David Tyler as managing director of Colemont’s aviation division.
Wellington credit rating downgraded
AM Best has downgraded the issuer credit rating of Lloyd's (re)insurer Wellington Underwriting (WU) to “bbb” from “a-”.
Allianz Cornhill Engineering strengthens risk surveying team
Allianz Cornhill Engineering has further strengthened its UK underwriting team with the appointment of its fourth specialist insurance risk surveyor.
LMA appoints Goddard to underwriting role
Mel Goddard has been appointed director, underwriting at the Lloyd’s Market Association.
Willis acquires £2.7m Norwegian broker
Willis Group Holdings has entered into a contract to purchase Link Forsikringsmegling AS, the leading insurance broking and employee benefit business in Oslo. Terms were not disclosed; annualized revenues for 2005 were approximately $5m (£2.7m).
Static premiums in home and car, reports AA
Both car and home insurance premiums remain static, despite growing industry concerns about increasing claims costs, the latest benchmark AA British Insurance Premium Index has shown.
THB appoints chief operating officer
THB Group has appointed Jane Joslin as chief operating officer of Thompson Heath and Bond, the Lloyd's broking division of the group. Her role starts on1st August. Mrs Joslin has worked within the Lloyd's and London Market on both the broking and…
Tower Group enters novation agreements with PXRE
Tower Group has announced that it has concluded, through commutation agreements, PXRE Reinsurance Company's participation under various reinsurance agreements with Tower Insurance Company of New York covering the 2001, 2002 and a portion of the 2003…
Dual recruits to bolster growth drive
Hyperion today announced two senior board appointments at its underwriting agency, Dual International. Luis Muñoz-Rojas is appointed chairman and Nick Denniston as non-executive director.
NU parent Aviva admits new merger talks
Norwich Union's parent Aviva this morning confirmed that it is in discussions which may lead to it making another acquisition.
Equity buys Fenland book
Equity Insurance Group has acquired the general book of King's Lynn brokerage, Fenland Insurance. The undisclosed value deal has expanded the group's UK branch network to more than 60.
Axa to close five offices; 200 jobs to go
Axa Insurance has confirmed that it plans to close five regional offices by 30 September. The insurer said it also expected to cut up to 200 jobs by the end of the year.
Axa UK office closures mooted
Axa UK is expected to make an announcement with regards its UK business with office closures mooted.
European insurance assets top €6 trillion in 2005
CEA, the European insurance and reinsurance federation, has published provisional figures showing that 2005 saw the total investments of the European insurance industry passing the €6,000bn mark for the first time, reaching €6,371bn ($8,091bn).
Helphire appoints group underwriting manager
Helphire Group has appointed Tom Slassor to the new role of group underwriting and product development manager.
Mondial moves to new offices
Croydon based company Mondial UK has announced plans to open a new fulfilment house in order to support its expansion. The new facility now open, will replace the current Church Road site and will be located on Stafford Road in the Wallington district of…