News
Insurers lose Woollard v Fowler test case
This morning Judgment has been handed down in the case of Woollard v Fowler, a landmark test case on the issue of recoverability of the fees of medical reporting organisations in road traffic accident cases.
Donner joins RenRe as new CFO
RenaissanceRe Holdings has announced that Fred R. Donner is joining the company as executive vice president and chief financial officer. He succeeds John M. Lummis who is retiring from the company effective June 30, 2006.
2006 hurricane season could hit US eastern seaboard
With hurricane season about to begin in the US, experts have said that the coming month would see two-thirds of the activity seen last year, but warned that concentration might move up to eastern seaboard from the Gulf coast.
Arag is planning to enter the UK insurance market
Arag Allgemeine Rechtsschutz-Versicherungs-AG is preparing its entry to the UK. The company filed the appropriate documents on 22 May to initiate the approval process by the Financial Services Authority (FSA). Arag anticipates the official start of…
G6 pilots ‘ground-breaking’ contract checking process
The G6 group of Lloyd’s Managing Agents today confirmed the pilot of a new approach to contract checking. The new process aims to support brokers in achieving contract certainty targets and radically reduce the time involved in the current procedure,…
Lancashire gains $350m letter of credit
Bermudian start-up (re)insurer Lancashire Holdings has announced that it and its wholly owned subsidiary Lancashire Insurance Company Limited have entered into a $350m three-year letter of credit facility.
LMA reply to Richard Ward over contract certainty
The LMA has endorsed the Lloyd's chief executives proposals to implement a new approach to the contract documentation process.
Aon says port premiums bounce after 05 Cat losses
Aon Marine has reported that property premiums have increased on average by at least 40% for global ports and terminals in the wake of last year’s Hurricane season, particularly those operating in catastrophe prone areas.
Max re confirms Nasdaq de-listing notice
Bermudian reinsurer Max re has confirmed that last week it received notice from Nasdaq that its securities are subject to delisting from the Nasdaq National Market.
Axis appoints global insurance president
Bermudian (re)insurer Axis Capital has promoted Richard Housley, currently European division president of AXIS Insurance, to president of Axis global insurance.
Churchill founder Long backs new SME insurer
Churchill founder Martin Long has made his long expected return to the general insurance underwriting arena as chairman of a new SME underwriting start up, M4 Underwriting.
Converium on the mend in 1Q despite 13% premium fall
European reinsurer Converium continued its steady recovery, posting a combined ratio of 94.8% and income of $71.1m on gross written premiums of $655.3m for the first quarter of 2006. The firm also increased shareholders’ equity and posted annualised…
Rehab: medical advisory board to set benchmark
A medical advisory board is to set an industry benchmark for the delivery of rehabilitation services for personal injury cases.
Converium appoints new CRO
Cpnverium has appointed Markus Krall as chief risk officer and member of the Company's Global Executive Committee with effect July 1, 2006. MArcus replaces Hans-Peter Boller.
Budget implements new systems management
Broker Budget Insurance Services has installed new systems management software to support the growth in its online business.
New Lloyd's CEO outlines market shake up
Lloyd’s new chief executive Richard Ward today outlined his first major proposal to update the market since taking over.
New web register anticipates October's fire reform order
The National Risk Assessment Register set up in anticipation of major changes to fire regulations through The Regulatory Reform (Fire Safety) Order which will come into force on 1 October this year, was officially launched at Portcullis House, Houses of…
Windsor profit and income increases
Broker Windsor has reported its pre-tax profits increased by 3% to £1.75m (2005: £1.7m) over the six months up to 31 March 2006.
Aon appoints chief operating officer
Aon has appointed Howard Manton as chief operating officer for its trade credit global practice group, which is responsible for insurance protection against bad debt arising from insolvency.
Swiss Re-GEIS escapes Moody’s downgrade, but negative stance stays
Moody's has confirmed the Aa2 insurance financial strength and senior debt ratings of Swiss Re as well as its A1 subordinated debt rating.
Fortis pushes up revenues by 15%
Fortis Insurance has increased its overall gross written premium to £164.3m for the first quarter of 2006, representing a 15% increase year-on-year (2005 Q1: £142.5).
Brit appoints new FD
Brit Insurance has appointed Richard Coulthwaite to the newly-created post of finance director, underwriting. He joined the company in April and will report to group finance director.
Lucas Fettes doubles Manchester team
Broker Lucas Fettes has doubled its Manchester financial services team as part of its planned growth strategy.
Pavilion signs deal with British Cycling Federation
Pavilion Insurance has signed a three year deal with the British Cycling Federation to provide a range of cycling insurance solutions for their members. The product will be marketed under the BC Insurance banner, and will be delivered via a new dedicated…