News
Max Re gains underwriter from Ace
Peta White has joined Max Re's Property and Casualty Reinsurance Division as Senior Vice President and International Treaty Underwriter.
RenRe promotes internally for Glencoe CEO
Bermudian (re)insurer, RenaissanceRe has announced that William J. Ashley has been promoted to CEO of Glencoe Group., RenaissanceRe's individual risk business, which includes primary insurance and quota share reinsurance lines.
CMGL launches anti-fraud unit
CMGL, provider of insurance management services, today announced the launch of CMGL corporate risk solutions, a new business unit specialising in the prevention, detection and investigation of business risks including insurance fraud and white-collar…
Aspen PIERS issue well-received
Bermdian (re)insurer Aspen has announced today that it closed the sale of an additional 600,000 perpetual preferred income equity replacement securities ("Perpetual PIERS") following the exercise in full of the over-allotment option held by the…
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.