News
XL gets $3.2bn equity issue home with ease
Bermudian (re)insurer XL Capital has announced that the underwriters of its equity fundraising have exercised their option to purchase an additional 5,076,900 ordinary shares in connection with XL's previously announced plans to sell 33,846,000 of…
Equitas settlement progress “significantly slower than hoped”
Equitas has reported much slower than expected progress on settling inwards liabilities in its half-year summary financial statement.
Carole Nash joins Countrywide network
Broker Carole Nash has joined Misys Countrywide network as part of plans to grow the business.
Imagine’s capital gets $50m boost
Imagine Insurance Company (Imagine), a specialist reinsurer and insurer, has announced an increase in its capital and underwriting capacity, as well as the affirmation of its A- (Excellent) rating by AM Best.
American Re upgraded by Moody’s
Moody's Investors Service has upgraded the insurance financial strength rating of American Re-Insurance Company (ARIC) to Aa3 from A2, and upgraded the senior debt rating of American Re Corporation (ARC) to A2 from A3. The rating action concludes a…
Arig opens Singapore branch
Arab Insurance Group (Arig) has announced the launch of a branch operation in Singapore.
Swiss Re funds GEIS takeover with securities offering
Swiss Re has announced the launch of a CHF 1.0bn mandatory convertible securities offering due 2008.
S&P raises the bar on insurers with 20% long-tail R/I charge
Standard & Poor's has revealed that from 2006 it aims to introduce a charge in its risk-based capital model for insurers to combat excessive reliance on reinsurance.
Mutual bodies respond to Myners Report
The Association of Mutual Insurers together with the Association of Friendly Societies, has published Corporate Governance for Mutual Insurers – in response to requests contained in last year’s Myners Report.
IoD: employer contributions cannot solve pensions crisis
Compulsory employer pensions contributions are not the answer to the UK's pensions crisis, business ...
CII repackages payment protection learning product
The Chartered Insurance Institute plans to launch an enhanced learning package for practitioners, of...
Time to test yourself
A selection of questions from various past-CII qualification papers
Pets win prizes for broker AFI
Elaine Fairfax, the creator of Animal Friends Insurance, was awarded first prize in the Nat West Eve...
Alea fire sale continues with European treaty rights sold to Scor
Troubled insurance and reinsurance group Alea has sold renewal rights of its European business to SCOR
The Association of Run-off Companies makes appointments
The Association of Run-off Companies, the UK run-off industry's representative body, has made two ap...
Broker poised for City buy
Acquisitive broker Stuart Alexander has been linked with a deal for London-based Bishop Skinner. Pos...
Nationwide in travel push
Building society Nationwide has launched a new travel insurance product, designed specifically for o...
Chaucer signs agreement with PXRE Reinsurance Company
Lloyd's insurer Chaucer has signed an agreement with PXRE Reinsurance Company to acquire its wholly ...
HBOS GI loses £100m in reporting restructure
A decision to reorganise the reporting structure at Halifax Bank of Scotland has wiped off almost £1...
JK Buckenham forms strategic partnership
Lloyd's reinsurance broker JK Buckenham has formed a strategic partnership, bringing together its sp...
Aon mulls more closures
Broker Aon revealed it could still close more offices, after it announced six will shut during the n...
Marsh: UK targets will have to change
Marsh has revealed it will not seek any regional UK acquisitions until its desired targets outlaw co...
Broker giants to trial timesheet pay schemes
The UK's largest brokers have started trialling schemes where they charge clients by the hour, in a ...
ZSL switches from City to Irish branch
Zurich Specialities London will no longer write business from the City after choosing to switch domi...