News
Brussels confirms insurance probe
The European Commission has decided to launch sector inquiries in financial services in the European Union in the areas of retail banking and business insurance.
Adjuster opens first Irish base
Loss adjuster Sigma Claims has set up its first base in Ireland. The company has set up its fourth office in total in Carrickfergus.
2005 Atlantic hurricane activity forecast above average
Tropical Storm Risk (TSR) has announced that it still anticipates that another active Atlantic hurricane season in 2005 is highly probable.
Regan vehicle's offical RSA statement
The directors of Corvus Capital, the UK investment company run by financiere Andrew Regan, have confirmed that UK insurer Royal & Sun Alliance is one of the potential investment and acquisition opportunities it is investigations.
Scor to restructure non-life business
The Scor Group has announced that it is adapting its worldwide structures to its new business profile, which has now been stabilised.
RSA issues statement on approach
Royal & Sun Alliance has issued a statement following the announcement by Corvus Capital regarding its interest in the insurer. The statement said: RSA "confirms that it has not received any approach, nor is it involved in any discussions which could…
Aon survey looks at company threats
The greatest threats to companies in 2005 are loss of reputation and business interruption, according to a survey of top UK companies by Aon.
Second Gen Re executive to plead guilty
A second senior executive of reinsurance company General Re plans to plead guilty in a probe of insurer American International Group (AIG), according to a report in the New York Times.
High profile duo re-enters market
Peter Smith, ex-managing director of international broker PWS, and Ralph Ehlers, InsurE-com founder, are re-entering the insurance market.
Primary appoints Forbes FD
The Primary Group has appointed Theunis Viljoen as finance director for European distribution.
Houldsworth pleads guilty in Gen Re case
A former executive at Berkshire Hathaway's General Re insurance unit has pleaded guilty to helping American International Group (AIG) concoct a sham transaction that made AIG's finances appear better than they were.
QBE rating upgraded
AM Best has upgraded the financial strength rating of QBE International Insurance to A (Excellent) from A- (Excellent) and the issuer credit rating to a+ from a-.
AM Best upgrades QBE
AM Best has upgraded the financial strength rating of QBE International Insurance (QBEII) to A (excellent) from A- (excellent) and its issuer credit rating to “a+” from “a-”. The outlook for both ratings is stable.
Integro builds executive team
New broker start-up Integro has announced five executive appointments. Industry veterans Frank Gundersen and Marc Kunney have been named to head the company's New York and San Francisco offices, respectively.
Benfield downbeat on 2005 revenues
Broker Benfield this morning reiterated it is prepared to incur short-term impact on profit and margin to improve growth prospects and is confident that carefully targeted expansion will significantly enhance the medium term outlook for the group.
Alea confirms it may raise more capital after downgrade
Alea today confirmed it has been notified that AM Best is placing its financial strength rating of A- (Excellent) and its issuer credit rating of a- under review with negative implications.
BHSF secures high street contract
Allied Carpets’ 2,100 UK employees are to be provided with counselling and health initiatives by The Health Scheme at BHSF.
DA Constable aims to stem contractor woes
DA Constable Syndicate 386 is launching a new professional indemnity product aimed at design and build contractors.
Cornhill promotes recovery
Cornhill Direct has signed a three year contract with Mondial UK for roadside assistance and recovery, with the insurer rebranding its motor assistance service Cornhill Direct Rescue.
Names to vote on future schemes
Integer, the mutual set up for Lloyd's Names as a stop-loss reinsurance vehicle, is to tell its members they will soon get the chance to vote on their scheme of arrangement.
Run-off specialist aims for speedy closure
Omni Whittington has received approval from both the English and Singapore courts to seek creditors’ agreement to place Singapore-based Lion City Run-Off Private Limited (LCR) into a solvent scheme of arrangement to speed up settlement of its liabilities.
Medical specialist PatientChoice reveals new software package
Medical insurer PatientChoice has chosen a new specialist administration software for brokers and insurance programmes, from Whitespace.
Amlin confirms Chaucer talks
Amlin this morning confirmed that it is in discussions about a possible recommended offer by Amlin for Chaucer, as revealed by Post Magazine yesterday.
SMEs losing war on talent over PMI
Small to medium-sized enterprises are losing out in the war for talent by not taking a proper intere...