News
Terrorism threat ignorance is rife
Terrorist attacks in the UK are inevitable and British businesses must plan to protect their supply ...
RSA moves quickly to appoint broker chief
Royal and Sun Alliance's rapid replacement of its outgoing broker managing director has been attribu...
Biba logs on to I-market
The British Insurance Brokers' Association's full range of 20 member schemes is now being offered vi...
Homeserve shares level out after Tuesday's price rocket
Shares in domestic repair specialist Homeserve dropped 33p today following yesterday's rally driven by positive a analyst recommendation. The equity slipped approximately 2% to £19.51 towards the end of trading today (Tuesday).
Biba links up with Cunninghams for valuation service
The British Insurance Brokers’ Association has launched a new valuations scheme with partner member Cunningham Lindsey Valuation Services.
West Yorks police make four arrests in IFB fraud raids
West Yorkshire Police has today executed dawn raids arresting four people, including one female, who it believes have been involved in a major insurance scam known as ‘crash for cash’ in the Keighley area.
FSA Annual Report
The Financial Services Practitioner Panel (the Panel) has today published its Annual Report for the period 2006/7.
FSA confirms Industry Guidance on outsourcing
The Financial Services Authority (FSA) has confirmed that its supervision of outsourcing by firms will in future take account of industry guidance which has been issued by MiFID Connect.
Board appointment at Benfield Asia
(Re)insurance broker Benfield has appointed Peter Hulyer to the Board of Directors of Benfield Asia. Peter will have specific responsibility for the operations of Benfield Corporate Risk, across the region.
Aviva enters Polish motor market
Aviva’s Polish operation, Commercial Union Poland, is to enter the direct motor insurance market, taking advantage of the burgeoning growth in car ownership and the population’s rapidly rising levels of disposable income.
Miller promotes Collins to board level
Global broker Miller has announced that Greg Collins has been appointed as a board director of Miller Insurance Services.
Mi appoints new business development manager
Technology provider, Mi Limited, has appointed a new business development manager, Hameed Alkhersan, to further increase its presence within EC3.
Zurich group income up 74% in first quarter
Zurich has reported $1.4bn in net income, up 74% in the first quarter of 2007, an annualized return on shareholder equity of 23.5 percent, and a business operating profit of $1.7bn (£850m).
Kiln premiums increase from Europe and Far East
Lloyd's insurer Kiln has written £129 million of gross premiums for the period ended 31 March 2007, showing an increase of 9.3% compared with the same period in 2006; the increase is in part attributable to the flow of business the Group is beginning to…
FSA Speech - Principles-based regulation - moving from theory to practice
In a recent speech by Clive Briault, managing director, retail markets, FSA, at the ABI 2007 Conference, Mr. Briault covered four main areas under the above mentioned heading, 1) How a more principles-based approach should help the FSA to achieve their…
FSA announces progress made on TCF and sets further deadline
The Financial Services Authority (FSA) reported an increase in commitment by senior management to the principle of Treating Customers Fairly (TCF) but warned firms who have failed to engage that they face tough action.
Ironshore wins South Carolina excess and surplus licence
Bermudian start-up property insurer Ironshore has been approved to provide property and catastrophe insurance on an excess and surplus basis for risks located in the State of South Carolina.
FSA fines Charterhouse £122,500 for unauthorised portfolio management
The Financial Services Authority (FSA) has fined Charterhouse Consulting Wealth Management(Charterhouse) £122,500 for carrying out discretionary portfolio management without permission and for various conduct of business failings.
Medical insurers' stance on cancer drugs creates confusion
The concerns of cancer specialists about the cost to the NHS of new cancer drugs are replicated by those providing private medical insurance, according to Watson Wyatt.
Flagstone Re first to graduate with second A- rating
Class of 2005 Bermudian reinsurance start-up, Flagstone Re has announced that it has achieved A- Fitch Rating financial strength ratings.
100% coverage on costs within group policies for just 10% excess payment
MediCare International has introduced two benefits to its group schemes.
Talbot sale to Validus completed
Talbot Holdings has announced that agreement has been reached with Validus Holdings, on the terms of the sale of 100% of the share capital of Talbot.
Mystery bidder enters Alea race
The board of run-off reinsurance group Alea has received an unsolicited approach it said might lead to a higher offer for the Company than that made by FIN Acquisition Ltd last month. The approach is based solely on publicly available information.
Converium duo in $5.5m payoff if SCOR deal goes through
Swiss reinsurer Converium has revealed that it will pay its chief executive and chief finance officer a total of $5.5m (CHF 6.7m) in severance pay at the end of 2007 if its agreed acquisition by SCOR completes.