News
Illium aims for £50m in commercial motor
London Market News
NU looks to boost online sales
Norwich Union hopes to boost online sales with a new technology roll out. The insurer implemented S...
FSA mulls compulsory commission disclosure
The UK regulator has warned brokers that it will take stock over whether to make the disclosure of c...
Manufacturers heed whiplash message
Motor research centre Thatcham has revealed that vehicle manufacturers recorded a 6% improvement for...
Appointment at Willis
Willis has strengthened its healthcare practice with the appointment of Jennifer Rutecky as healthca...
Biba urges brokers to lobby FSA
Brokers are being urged by the British Insurance Brokers' Association to lobby the regulator, to hel...
Appointment at FWD
FWD has promoted Emma Lane to senior events consultant within the specialist events division. She ha...
Crawford and Company obtain shareholding in Chinese firm
Crawford and Company has said it will obtain full managerial control of the Chinese firm Tino Insura...
Insurers given claims limit hope
The government has turned to the insurance industry to help it decide whether to raise the small cla...
PXRE paves the way for further $500m capital raising
PXRE has announced that it has filed for the proposed offering of up to $700m of its securities with the Securities and Exchange Commission, including approximately $198m of its previously registered securities.
Axa in Lloyds TSB tie up
Axa has announced today that it has secured the contract to underwrite Lloyds TSB Insurance’s travel insurance from 1 February 2006 following a competitive tender.
Heath Lambert in home insurance launch
Heath Lambert today announced it will be the sole provider of cover for Diamond's new home insurance product.
Moody’s downgrades XL Insurance, but XL Re affirmed
Moody's has downgraded the insurance financial strength ratings of XL's leading insurance operating subsidiaries, including XL Insurance (Bermuda) Ltd to Aa3 from Aa2 as well as the senior debt rating of XL Capital Ltd to A3 from A2 and has downgraded…
Moody's lowers Transatlantic Re’s rating
Moody's Investors Service has lowered the insurance financial strength rating of Transatlantic Re to Aa3 from Aa2. The outlook for the rating is stable.
Endurance takes $115m hit from $12bn Wilma industry loss
Bermudian (re)insurer Endurance Specialty Holdings has announced a $115m estimated net loss from Hurricane Wilma . The estimate is net of reinsurance, reinstatement premiums, and tax benefits. Endurance added that its estimated gross lossesfrom the storm…
Russ quits at Quanta
Quanta Capital Holdings has announced that its Board of Directors has appointed Robert Lippincott as its interim chief executive.
Integro acquires Lloyd's broker to enter UK market
Broker Integro today announced the acquisition of Lloyd's broker Humphreys Haggas Sutton & Co. HHS is a Lloyd's broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton.
FSA highlights brokers' 'positive' approach to regulation
Many insurance brokers are adapting well to the introduction of statutory regulation, the British Insurance Brokers’ Association's (Biba) Scotland conference has been told. Andrew Honey, the Financial Services Authority’s (FSA) head of insurance, small…
Industry calls for changes in safety management as commercial fire claims soar 20%
The annual fire bill could be reduced by £34m a year with 15% fewer fires through changes to the building regulations according to research commissioned by the Association of British Insurers. With 35% of fires arising from poor fire safety management,…
Marsh to launch national public sector practice
Marsh is set to expand its reach into the UK public sector next year with the launch of its new national Public Sector Practice on 1 January 2006. This will focus on developing Marsh’s business with local authorities, development agencies, police and…
BNP Paribas arranges €110m of natural catastrophe protection
BNP Paribas, as sole bookrunner, has arranged €110m of catastrophe bonds for Aiolos, a Cayman Island exempted company. The company worked very closely with Munich American Capital Markets in structuring and managing the transaction, with Risk Management…
Alea sells off parts of US business
Alea Group Holdings has announced that it has entered into an agreement to sell the renewal rights to certain portions of its US primary programme business written by Alea Alternative Risk (AAR) to subsidiaries of AmTrust Group.
AXIS raises $200m from common stock issue
Bermudian (re)insurer AXIS Capital has announced that it has closed the previously announced public offering of 6.8m common shares at $29.42 per share, raising aggregate net proceeds of approximately $200m.
Lloyd's deal complete
Imagine Insurance has completed the acquisition of all of the outstanding shares of Lloyd’s managing agency, Abacus Syndicates, and its associated service company, Abacus Underwriting Agencies.