News
GIC India ratings affirmed
Indian reinsurance giant General Insurance Corporation has had its financial strength rating affirmed by AM Best.
DFA, Milliman launch new risk model
DFA Capital Management, the enterprise risk management (ERM) software provider and consultants Milliman have launched a solution for economic capital modeling - aimed at property and casualty insurers.
Biba supports FSA’s stance on PPI
The British Insurance Brokers' Association has come forward with its support of the FSA's decision on firms selling single premium Payment Protection Insurance.
Domestic Florida insurer takes on State Farm policies
(BestWire) - Another Florida domestic insurer has stepped forward to announce it is prepared to take some State Farm Florida policies.
Validus ramps up underwriting after AIG raid
Bermudian (re)insurer Validus said that it is to create a new global technical lines team, after hiring three senior underwriters and two engineers from stricken US insurer AIG.
Cobra acquires in Manchester
Cobra has acquired Manchester-based broker Thornway Insurances.
AIG responds to reports it will seek more money from the US government
AIG has responded to US reports that it is in talks with the American government to secure additional funding.
FSA insists on end to PPI sales with loans
The Financial Services Authority (FSA) has written to all firms still selling single premium payment protection insurance (PPI) with unsecured personal loans asking them to withdraw the product as soon as possible, and by no later than 29 May.
FSA wants all firms to stop selling single premium PPI
The Financial Services Authority has written to all firms still selling single premium Payment Protection Insurance with unsecured personal loans asking them to withdraw the product as soon as possible, and by no later than 29 May.
MDU warns over importance of clinical negligence
The MDU is warning against using information about clinical negligence claims as a measure of doctors' performance.
Marsh launches Triple C
Marsh and Berkshire Hathaway said that they have created a property insurance programme that can provide up to $500m of annual capacity, in the aggregate, for windstorm losses incurred by all participating oil and gas companies operating in the Gulf of…
AIG set for biggest ever quarterly loss
Troubled US insurance giant AIG is set to reveal a fourth-quarter loss of up to $60bn, writes Katherine Brandon, reporter, Professional Broking .
Aon appoints marine expert for UK regions
Aon has appointed Carl Wooding as UK marine client manager to support small and medium sized UK companies by improving their access to specialist hull, liability and related marine insurance in the local and London markets.
ARC: UK run off sector in decline as Continental Europe interest rises
The downwards trend in UK run-off liabilities continued as total liabilities of the UK non-life run-off market fell to an estimated from £28.3bn at the end of 2007 from £32.7bn at the end of 2006, according to research released today.
Consulant claims capital model first
ARC, the UK trade body for legacy management professionals, and global consulting firm, Watson Wyatt, today launched "Simulum 3" at the 2009 ARC Congress.
Torus appoints former AIG VP to operations role
Torus Insurance Holdings has appointed John Williams as global head of business operations.
Broker legacy issues initiative launched
ARC, the UK trade body for legacy management professionals, has announced it is launching an initaitve to explore the question of broker legacy issues in order to better identify the current concerns of the legacy sector and where potential solutions, if…
New repair network launched
A group of UK collision repair businesses are launching their own quality assured repairer network aimed specifically at the prestige vehicle market.
Renaissance Re extends CEO contract
RenaissanceRe Holdings, the Bermudian reinsurer, said it has extended its employment agreement with president and chief executive Neill Currie until February 22, 2014.
Biba responds to Comparison Consortium code of practice
The British Insurance Brokers' Association has given the news that the Comparison Consortium will work with Association of British Insurers to agree a new industry code of practice for price comparison websites a cautious welcome.
AA unveils new 'value' caravan product
AA Insurance has launched a new 'value' caravan insurance policy, for caravans worth up to £10,000.
More Australian wildfires rage
A new series of fires have broken out in the Australian state of Victoria, fuelled by hot dry conditions and northerly winds, modelling agency RMS has said.
Swiss Re downgraded
Moody's Investors Service has downgraded the insurance financial strength (IFSR) and senior debt ratings of Swiss Reinsurance Company (Swiss Re) and associated companies from Aa3 to A1. (See list below for more details.). The ratings have been assigned a…
Fortis steps in as Axa and Primary part company over UKU deal
Fortis Insurance and UK Underwriting have announced an agreement to enter into a five year partnership, worth annually in excess of £50m gross written premiums.