News
Willis looks to Copenhagen
Willis has announced that it has agreed to acquire Copenhagen-based reinsurance broking company Kirecon. The exact terms of the deal have not yet been disclosed.
FSA warns over mystery commercial insurer
The Financial Services Association has issued a consumer alert, after receiving a tip off in early December of an unauthorized insurer selling commercial policies including employers' liability.
Capita's non-compete gag expires on Eastgate founders
Specialist non-life run off manager, The Randall Group, has acquired Cavell Management Services and obtained approval from Lloyd's to run its own Managing Agency.
Zurich finalises French business sale
Zurich has announced the completion of the sale of parts of its French business to Assicurazioni Generali Spa. The sale, which was announced in September, includes all of Zurich's life operations – including the Eagle Star business – plus parts of Zurich…
Brokers suffer
The insurance broking sector saw a drop in profitability in the final quarter of 2003, the only financial services sector to do so according to a new report from the Confederation of British Industry.
Fitch removes Scor from negative watch
Rating agency Fitch has affirmed Scor Group's Insurer Financial Strength rating at 'BB+' and the Long-term and Short-term ratings of SCOR at 'BB' and 'B', respectively, removing them from Rating Watch Negative. The rating outlooks are now Stable.
Start-up seeks brokers
Lamasz Hettle Risk Consulting Limited has been set up in Birmingham by former senior figures at Alexander Forbes.
Ilium boosts syndicate with senior appointments
Lloyd's liability syndicate, Illium syndicate 4040, has strengthened its team with the appointment of four underwriters.
Atlantic to see stormy 2004
Hurricane activity in the Atlantic will be above average in 2004, according to the latest forecast from the Tropical Storm Risk (TSR) service at the Benfield Hazard Research Centre.
Ace Europe targets regions
Ace Europe is increasing its presence in the North East and South East of England with a strengthened regional underwriting team.
Boyce quits Alarm
Sheila Boyce, chief executive of Alarm, the National Forum for Risk Management in the Public Sector, has announce she will be leaving at the end of her three year contract.
Brokersure hires new Business Development Exec
Cox Insurance software subsidiary Brokersure.co.uk, has appointed Gill Rideout to the newly created position of Business Development Executive.
Cox acquisition spree continues
Cox' growth plans have continued apace into the new year with the insurer announcing a trio of acquisitions; Eastwood Insurance Services, Southdale Insurance and BR Insurance . The purchases follow on closely from last years purchases of Bennetts UK and…
Reserving issues will continue says Amlin
Lloyd's insurer Amlin said in its trading statement today there is market expectation that reserving issues will continue to emerge for legacy casualty business.
BNL publishes FSA application advice
The Broker Network has published a free guide to completing the FSA application form.
W Denis sets up city office
Lloyd's Broker W Denis Insurance Brokers has announced it has set up a London office at six Lloyd's Avenue, following a period of continued growth.
NI broker guilty of grossing up
The Enforcement Committee of the General Insurance Standards Council has decided that Londonderry-based Harrison Insurance Brokers had grossed up premium.
FOS claims costs are falling
The Financial Ombudsman Service said today that the average cost of resolving a dispute has dropped from £753 three years ago to £507 (the budget figure for 2004/05).
S&P takes ERC Life off CreditWatch
Standard & Poor's (S&P) has lowered the financial strength rating of ERC Life Reinsurance from A+ (strong) to A- (strong) and removed it from CreditWatch, where it had been since 3 September 2003.
Wellington predicts rate reductions in property, airline and energy classes
Liability, marine hull and cargo still showing increases, however.
Former Marsh duo launch new consultancy
Ex-Airmic chair Taylor teams up with Clowes for start up.
Hogmanay organisers face bill after failing to arrange cancellation insurance
The organisers of the Edinburgh Hogmanay Celebrations face costs of up to several hundred thousand pounds as a result of failing to arrange cancellation insurance for the events on New Year's Eve due to adverse weather conditions, according to events…
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Path to Success: Business Practices Analyst
Steve O'Connor, business practices analyst at Limit Underwriting, talks of his career to date