News
DIMA rejects reinsurance lobbying claims
The Dublin International Insurance & Management Association (DIMA) has rejected claims that it has lobbied the Irish Government not to accede to European Commission Directorate proposals to introduce mandatory regulatory standards for the reinsurance…
NU parent denies takeover talk
Aviva has denied speculation it is in talks about acquiring a US insurer.
FSCS declares 39 firms in default
The Financial Services Compensation Scheme has declared 39 firms in default in its latest statement. Please find below a list of the latest firms to be declared in default.
Crawford gains from RBSI deal
Crawford & Company, the loss adjuster, has been selected as one of the main providers of claims management services to Royal Bank of Scotland Insurance. Crawford said it has been selected to provide UK-wide claims management services covering general…
FSA Strachan outlines contract certainty update
David Strachan, insurance sector leader, Financial Services Authority, made the following speech at The Insurance Institute of London today.
NU announces more redundancies as part of restructure
Norwich Union today announced its support services – including IT, properties and facilities management – are being restructured.
NU shake up sees insurance broker boss change
Norwich Union has announced a GI shake up with insurance broker director George Berrie revert to previous role after less than a year in the role.
La Playa in HNW expansion
Cambridge-based broker La Playa has expanded its high net worth private client team, with Sue Ephgrave and Amy Bridger joining as account executives.
AWAC downgraded as it moves away from AIG
AM Best. has downgraded the financial strength rating (FSR) to A (Excellent) from A+ (Superior) of Bermudian (re)insurer, Allied World Assurance Company (AWAC) and its affiliated subsidiaries.
Aon produces new political risk map
Investors will not be trading in a safer world in 2006 despite twice as many countries experiencing political risk upgrades as downgrades in Aon’s 2006 Political & Economic Risk Map. The map shows that political interference poses the greatest threat to…
NU signs international healthcare deal
International healthcare provider, Goodhealth Worldwide, has signed a new underwriting agreement with Norwich Union Insurance.
Willis recruits 70th network member
The Willis Commercial Network has recruited its 70th member, McHale Heaney (City) Limited of London.
Home and motor premiums static says AA Insurance
Premiums for both car and home insurance remained static over the last three months of 2005, following small increases during the previous quarter, according to the latest benchmark AA British Insurance Premium Index.
Amlin premiums up 10% during reinsurance renewals
Amlin plc (‘Amlin’) today released the following statement on current trading conditions and comments on the trading period just ended.
Insurers 'still finding regulation tough'
A year on from GI-Day, insurers are continuing to find regulation a struggle, according to Huntswood, a provider of professional services to the retail financial services industry. Huntswood’s poll of insurers reveals that a fifth (22%) of insurers are…
Integro builds property practice
Integro has announced former Aon executives Gregory DiPrato and Valerie Schmalzried have been appointed managing principals for the company's property practice.
Equity Insurance Group acquires broker
Equity Insurance Group, today announced the successful acquisition of Coventry based insurance broker, Needham Insurance Services. The move continues the expansion of its UK high street presence. The branch, which has four employees, will continue to…
IFS hails female take up of insurance qualifiation
The Institute of Financial Services has reported that record numbers of women registered for its Certificate in Regulated General Insurance (CeRGI®).With almost 2,000 registrations from women for the single-module qualification, this represents…
DA Constable given top rating by S&P
Standard & Poor's Ratings Services assigned its first interactive Lloyd's Syndicate Assessment (LSA) of '5' (very low dependency) to Limit Underwriting Syndicate 0386. The outlook on the syndicate is stable.
Montpelier adds another $100m in capital
Bermudian reinsurer Montpelier Re has announced that it has raised $100m through a private sale of trust preferred securities.
Market analysts pessimistic over insurers' 2006 growth prospects
Analyst Keefe Bruyette and Woods has reduced its European insurance sector rating outlook to underweight from Neutral, claiming last year's performance is unlikely to be repeated in 2006.
Former Aon exec Stott takes Axa distribution job
Axa has appointed Gary Stott as commercial distribution director at AXA Insurance. Reporting to Mark Cliff, distribution director, he will focus on the growth of AXA Insurance’s commercial business proposition. He joins on 1st February 2006.
Arc Legal and Heath Lambert win RIBA account
Members of the Royal Institute of British Architects now have access to personal legal costs insurance cover from Arc Legal Assistance, the bespoke legal costs insurance provider.
Ace: IT outsourcers increase network risk
Organisations which outsource their IT systems are increasing their potential vulnerability to security breaches causing possible long term damage to their business, according to the insurer Ace European Group. Ace said it had uncovered a lack of…