News
Equitas attacks proposed US law
Equitas, the reinsurance vehicle set up to rescue Lloyd's from asbestos liabilities, has attacked a ...
Appointment at Audatex
Steve Watson has become product manager for new services at Audatex. Prior to this, he spent eight y...
Appointment at Smart and Cook
News in Brief
Powerplay Direct merger
Claims News in Brief
Insurers to pay less to FSCS
General insurers' prospective levy from the Financial Services Compensation Scheme will drop by £40m in 2005/6, according to the body's new business plan. Insurance intermediaries will be required to contribute £1.7m to the pot.
FSA announces 2005/6 business plan
The Financial Services Authority has published its Business Plan. This sets out the FSA's priorities for 2005/06 and the budget necessary to deliver them.
AM Best comments on Munich Re announcement
AM Best has announced that the financial strength rating of A+ (Superior) (with a stable outlook) and the issuer credit rating of “aa” (with a negative outlook) of Munich Re remains unaffected following the company’s revised earnings forecast for 2004 …
Moody’s places GE Insurance Solutions under review
Moody's Investors Service has announced that it has placed the ratings of GE Insurance Solutions Corporation (senior unsecured debt at A1) and its rated operating subsidiaries under review for possible downgrade.
Fitch affirms Lloyd's rating following Central Fund award
Rating agency Fitch has affirmed Lloyd's ratings following its announcement of a partial award in arbitration proceedings relating to the Lloyd's Central Fund. The outlook on the Insurer Financial Strength (IFS) and Long-term ratings remains stable.
Smart and Cook appoint new chair
Smart and Cook has announced the appointment of David Owen as its new non-executive chairman, following the recent death of company founder Geoff Cook.
Ombudsman shake up sees new chair appointed
The Financial Services Authority today announced the appointment of Sir Christopher Kelly KCB as the new chairman of the board of the Financial Ombudsman Service. The board runs the single ombudsman scheme set up by the FSA under the Financial Services…
Lloyd's favoured in central fund dispute but case rumbles on
Lloyd’s dispute with six reinsurers of its new central fund is in the balance after arbitration proceedings found that one of the carriers, Swiss Re, was entitled to "avoid the policy".
US P/C market premiums down, claims CIAB survey
More than 80 percent of small and large commercial property/casualty accounts and 90 percent of medium accounts found their insurance premiums either stable or down by as much as 20 percent during the fourth quarter of 2004, according to survey data…
Arthur J Gallagher merges operations
Arthur J Gallagher has announced the merger of its two United States reinsurance brokerage subsidiaries, Arthur J Gallagher Intermediaries in New York and John P Woods in New Jersey, effective immediately.
Re AC steps closer to relaunch
Reinsurance Australia Corporation (Re AC) has announced that the Australian Prudential Regulation Authority (APRA) has removed the directions which were imposed on Re AC when the Company went into run-off in 2000. This follows the completion of APRA’s…
Guy Carpenter publishes marine and energy review
Reinsurance broker Guy Carpenter has released itscomprehensive Marine & Energy Reinsurance Review Report 2005, which identifies key influences driving decision-making in the marine and energy reinsurance marketplace.
Jelf results show turnover rising
Broker the Jelf Group today announced its inaugural set of preliminary results as a listed company on the Alternative Investment Market, with turnover increasing by 26%.
West country broker boasts healthier operating margins
West country and Wales based corporate broker Jelf Group has announced its inaugural set of preliminary results as a listed company on AIM. The results are for the year ended 30 September 2004.
Chadbourne and Parke boost London office
International law firm, Chadbourne & Parke, has appointed Adrian Mecz, Christopher Cardona, Michelle George, John Barlow and Mark Pring as partners in the London office.
Hanbury beats Merry in Lloyd's election
Two appointments to the Council of Lloyd’s have been made following the recent Council elections.
Equitas warning over US asbestos law
Equitas has warned that the proposed Fairness in Asbestos Injury Resolution act, which is being debated in the US Senate at the moment, might drive the company into bankruptcy.
RAC to provide private care to accident victims
Thousands injured in all types of accidents may be able to access free private medical treatment following the launch of a new nationwide rehabilitation service from RAC.
Replacement suppliers merge
Media and photography supplier, Powerplay Direct has merged with computer, home electrical and mobile phone replacement specialists Vox Solutions.
Kerry London increases London Market presence
Kerry London (KL), the West London based privately owned insurance broking group, has announced the purchase of Euclidian Direct (EDL) from Capital Insurance Holdings.