News
Converium announces changes
Converium has announced a number of substantial changes following its external reserve review.
Allied opens London reinsurance operation
Bermudian property and casualty reinsurer Allied World Assurance Holdings has opened a branch office in London.
Stratum to manage BIIC
Stratum, a Bahrain-based investment advisory firm, has been appointed by the Bahrain Monetary Agency (BMA) to serve as the strategic project manager for the Bahrain International Insurance Center (BIIC).
Asda urges customers to get adequate home insurance
A third of the damage done to UK homes by fires last year was not covered by home insurance, leaving homeowners £126m out of pocket, according to Asda.
Florida businesses hit by Charley
Florida businesses appear to have suffered a significant portion of the overall damage from Hurricane Charley, according to the Property Casualty Insurers Association of America (PCI).
Fortis reports GWP of £294m
Fortis Insurance UK reported £294m overall gross written premiums for the second quarter of 2004, an increase of 11% over the same period in 2003.
Heath Lambert scores PFA deal
Broker Heath Lambert today agreed to become the insurance provider to the Professional Footballers' Association’s 4000 members.
Russian plane crash was "terrorism"
Traces of explosive have been found amid the wreckage of one of two Tupolev airliners that crashed on Tuesday, according to BBC Online.
Fitch affirms Munich Re rating
Fitch Ratings has affirmed Munich Re’s Insurer Financial Strength (IFS) and long-term ratings at 'AA' (very strong). At the same time, the agency has affirmed the ratings of certain Munich Re bond issues as listed below. The outlooks on all ratings…
Aetna's RBC could slide says A.M Best
A.M. Best has assigned a financial strength rating of A- (Excellent) to Aetna Life and Casualty (Bermuda). The rating outlook is stable.
Chaucer upgraded by A.M Best
A.M. Best has assigned a syndicate financial strength rating of “A” (Excellent) to Lloyd’s Syndicate 1084, Chaucer’s flagship syndicate.
Highway confirms third party claims supplier
Broker only motor insurer Highway Insurance has awarded Countrywide Property Inspections full delegated authority to settle claims for damage to third party property resulting from a motor accident claim.
Winners and Losers - Post Magazine's monthly round-up of job cuts and gains
WINNERS Hastings Direct outlines an aggressive growth strategy that will see it open a new Manchest...
Dixons adds Drama to risk management
Electrical retailing giant Dixons is looking to improve risk management knowledge among its 30,000 s...
Talent is not maximised
Financial services firms are failing to maximise their return on talent, according to new research b...
US insurers to pay £3.7bn for Charley damage says ISO
U.S. property casualty insurers are expected to pay homeowners and businesses an estimated $6.8 billion (£3.7bn) for insured property losses from Hurricane Charley, according to preliminary estimates by Insurance Services Office's Property Claim Services…
Equitas reaches agreement on asbestos insurance dispute
Equitas has reached a comprehensive agreement to settle Hercules’s insurance claims against certain underwriters at Lloyd’s of London reinsured by Equitas.
SME figures suggest rising numbers
The Small Business Service, an executive agency of the Department of Trade and Industry, has published small and medium-sized enterprise statistics for the UK in 2003.
Fortis insurance profit up by 20%
Fortis’ insurance business has reported a 20% increase in its net operating profit to EUR 766m in the first half-year of 2004, in comparison with the same period last year.
Heath Lambert appointed to Cleanaway
Heath Lambert Consulting has been appointed by waste management group, Cleanaway, after a four-month selection process.
Swiss Re doubles profit while premiums decline
Swiss Re’s profit doubled to CHF 1.4 billion (£611m) in the first half 2004. Total premiums earnedwere CHF 14.1 billion, a decline of 2% on 2003, as Swiss Re continued to underwrite selectively and focus on profitability, according to a company statement.
Scor announces improved results
French reinsurer Scor has announced that its first half 2004 results reflected a steady improvement in the technical quality of the Group’s underwriting.
Former XL chief appointed head of Arch underwriting
Arch Insurance Company (Europe) has announced the appointment of Nicholas Metcalf to the newly created position of director of underwriting.
NU strengthens relationship with Co-op
Norwich Union has been chosen by The Co-operative Bank to be its exclusive provider of payment protection insurance on all loan and credit card products.