News
Goshawk control fight peters out
The fight for control of Goshawk Insurance fizzled out last week with the insurer's largest shareho...
Post Magazine conference
Sean Egan, planning and business development director of Norwich Union General Insurance, will refle...
Appointment at Willis Group
Willis Group has appointed Ashok Dhawan as chief executive officer of their operations in India. Mr ...
BIBA rejects call for discrimination against younger drivers
The British Insurance Brokers’ Association has rejected SAGA’s call for younger drivers to be discriminated against with higher premiums because their age group commit more uninsured driving offences in the UK.
Aspen sells shares to Lehman Brothers
Aspen Insurance Holdings has announced that it has agreed to sell 17,551,558 ordinary shares to Lehman Brothers in a block trade.
HSA launches direct health plans
Cash-plan specialist HSA is launching two direct health plans aimed at the over and under 60’s market it says were designed shake up a stagnant market and drive new customers into the sector.
Aon cuts 750 UK jobs in restructure
Aon UK today embarked on a major restructuring of its UK insurance broking and risk management operations. As part of this process, the company anticipates taking actions that will reduce employee numbers by up to 750 out of a total 6800 UK workforce…
Wellington ups hurricane damage estimates
Wellington Underwriting (Wellington), whose wholly owned subsidiary Wellington Underwriting Agencies manages Syndicate 2020 at Lloyd's (the Syndicate), has updated its estimate of losses sustained from Hurricane Katrina and an initial loss estimate from…
ACE fundraising continues
ACE has announced that Citigroup Global Markets and Goldman Sachs have exercised their option to purchase an additional 4,292,500 ordinary shares of ACE.
SEC eases capital raising process, post-Katrina
The Securities and Exchange Commission (SEC) has announced that it has eased some rules to help insurers and reinsurers raise money from capital markets more quickly and pay claims in the wake of Hurricanes Katrina and Rita.
Atrium Underwriting Plc appoints new Political Risk and Terrorism Underwriter
Atrium Underwriting Plc has appointed Bernard de Haldevang as its new Political Risk & Terrorism Underwriter on Syndicate 609.
Quanta announces hurricane losses
Quanta Capital Holdings (Quanta) has announced that its total estimated retained net losses from hurricanes Katrina and Rita are expected to be in the ranges of approximately $40 to $50m and approximately $2 to $8m, respectively.
Irish insurer's rating questioned
A.M. Best has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Quanta Europe Ltd (Quanta Europe) (Dublin, Ireland) under review with negative implications following similar rating actions on Quanta Reinsurance.
Ferma: XL's Tobin warns insurer ratings can be damaged by fronting captives
Insurers who front for captive insurance companies find they are facing pressure from their own rating agencies over the credit risks they are taking on, CliveTobin, CEO of XL Insurance, told European risk managers yesterday.
QBE US acquisitions boost insurer's rating
A.M. Best has removed the financial strength ratings of A (Excellent) and issuer credit ratings of “a” of QBE Re Group - U.S. (QBE Re) (New York, NY) and its subsidiaries from under review with negative implications. The ratings have been affirmed with a…
Wellington estimates $161m hurricane losses
Wellington Underwriting has today released an updated estimate of losses sustained from Hurricane Katrina and an initial loss estimate from Hurricane Rita.
Aspen rating placed under review
A.M. Best has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Aspen Insurance under review with negative implications.
Glencairn acquires IoRisk Solutions
Glencairn Limited has appointed Mark Ter Haar as its new Business Development Director. The move comes as part of the acquisition of IoRisk Solutions, which was established in 2001 under an umbrella arrangement with independent Lloyd’s broker, Holman’s.
GISC boss takes up post at leading broker
Chris Woodburn, former chief executive of the General Insurance Standards Council, has been appointed as Kwik–Fit Financial Services' new non-executive director.
London market must explain contract certainty
The London Insurance market risks losing custom if it fails to explain to the rest of the world the huge impact contract certainty will have on its practices, says Reynolds Porter Chamberlain, the City law firm.
RSA mulls appeal after latest US court ruling
Royal and Sun Alliance today said it reviewing its options after a US court decision in relation to ongoing US litigation.
Allianz Cornhill ties up exclusive Willis deal
Allianz Cornhill Commercial has been appointed preferred carrier of accident and health insurance for Willis Commercial Network.
FSA: progress made on Treating Customers Fairly
Many financial services firms have made progress over the last year on Treating Customers Fairly (TCF), Financial Services Authority (FSA) managing director Clive Briault has told an industry audience. He said he had been encouraged by examples around…
QBE changes name of underwriting entity
QBE European Operations has changed the name of QBE International Insurance to QBE Insurance (Europe) (QIE).QBE International Insurance makes up the company market arm of QBE European Operations, including brands such as Ensign and MPB.