News
RMS releases new version of Climetrix
Risk Management Solutions (RMS) has unveiled its latest version of its Climetrix weather derivatives trading and risk management system.
Hannover Re announces 2005 profit expectation
Hannover Re has announced that in spite of the impact of the recent string of hurricanes to hit the USA, it still expects that its performance in 2004 will exceed its return on equity target.
Duo return to Capita
Capita Insurance Services has appointed two senior loss adjusters, Alastair Whiteside and Peter Shaw, as directors of the technical adjusting division.
DFSA lays out regulatory framework
The Dubai Financial Services Authority (DFSA) has announced the details of its regulatory framework.
S&P ups RSA's rating from negative to stable
Standard & Poor's Ratings has revised its outlook on the main operating entities of Royal & Sun Alliance to stable from negative.
Insurers urge recycling of motor parts
A group of insurers is urging the insurance and vehicle repair industry to use recycled parts for companies and consumers alike.
Guardian swoops for Link
Guardian General and the shareholders of Zenith have signed a memorandum of understanding under which Guardian intends to purchase the entire share capital of the Zenith with the exception of its Lloyd's businesses, which are currently in run-off. It is…
RSA confirms 1200 jobs to go to India
Royal & Sun Alliance has today confirmed plans to transfer 1200 jobs to INdia over the next two years, as predicted by Post Magazine last week (RSA tipped to join offshore elite, PM 7 October). The insurer's shares rose on the news standing at 77 pence…
Gen Re, Axis increase reinsurance participation with Admiral
Admiral Group has announced a change to its proportional reinsurance arrangements for wholly owned underwriting subsidiary Admiral Insurance (Gibraltar) (AIGL).
Willis strikes deal with Leeds broker
The Willis Commercial Network today announced Leeds broker Lawrence Scoffield & Co has joined.
Broker Barnett and Barnett to double staff
Corporate broker, Barnett and Barnett, is looking to double its staff by 2007.
New flood map for insurers
The Environment Agency has published what it describes as the most comprehensive, up-to-date and easily accessible map of flood risk from rivers and the sea across England and Wales.
Oxygen selects compliance technology
Start-up broker Oxygen will use Wildnet’s systems to comply with Financial Services Authority requirements.
RSA expands marine book
Royal & Sun Alliance and Aquarius Insurance Services have launched a comprehensive insurance package for the fish farming industry.
CBI director calls for EL action
Digby Jones, director general of the Confederation of British Industry, has called on government and industry to work together and tackle rising costs for commercial insurance.
Insider trading investigations are latest hurdle for Converium
The Swiss Exchange (SWX) has completed a probe into possible insider trading at Converium according to Reuters. The investigation followed the announcement in July of a $385 million hole in reserves which has resulted in a two-thirds fall in the share…
New marine head at Brit
Brit Insurance Holdings has recently appointed Richard Mander to write marine and energy liability business for both Brit Insurance Limited and Syndicate 2987.
Amlin admits weather losses are higher than "business plan assumptions"
Lloyd’s insurer Amlin today said losses relating to Hurricane and Typhoon events in the United States and Japan respectively are higher than its business plan assumptions for such activity.
CBG makes four appointments
Community Broking Group has appointed four new members of staff.
London-based dental plans launched
Europ Assistance has launched a range of corporate dental plans in London.
Swiss Re estimates up to $750 million in hurricane claims
Swiss Re estimates its claims from the four hurricanes to make landfall in the US (Charley, Frances, Ivan and Jeanne), together with Typhoon Songda in Japan, will be in the range of $750 million. It says the unprecedented nature of this year's storms…
BIA partners with Paymentshield
Berkeley Independent Advisers, a subsidiary of Berkeley Berry Birch, has set up a partnership with Paymentshield to offer general insurance products to its members.
Catlin loses £28m in hurricane claims
Bermuda-based Catlin Group has predicted a $50m (£28m) loss in its net income as a result of claims following the hurricane season.
IRM outlines 2005 agenda
The Institute of Risk Management has unveiled its one-year qualification, the Introductory Certifica...