News
Munich Re in $1.3bn US specialty buy
Munich Re has announced that it has concluded an agreement to buy US primary insurance company Midland for $65 per share, worth $1.3bn (€0.9bn) in all and which represents a 12% premium to their last closing bid price of $58 a share.
Ace strengthens presence in Lloyd's
Ace Bermuda International has announced the opening of a new box at Lloyd's to further complement the company's business development strategy.
Provident launches on Acturis broker platform
Provident Insurance - recently acquired by GMAC – has revealed that its products are now on the Acturis broker platform.
MMC securities repositions under Guy Carp brand
Global broking and advisory group Marsh & McLennan Companies (MMC) has announced that it has changed the name of its MMC Securities investment banking subsidiary to GC Securities and has expanded its capabilities in Europe.
EA in sales restructure
Europ Assistance has re-organised the structure of its sales and account management functions.
Axa corporate boss calls for rating stability
A leading personality in the international insurance industry has said that if the current soft market cycle taking hold is to flatten out, then premium rates must be stabilised if insurers are to achieve stable and adequate pricing. And that means…
List of top electronic claims file performers omits entire G6
Lloyd’s of London has published a list of brokers that are using the London Market’s electronic claims files (ECF) for 100% of inscope claims, effectively naming and shaming other companies by omission.
Groupama signs up for Key Choice commercial intiative
Groupama has joined Key Choice's commercial initiative -the business network for users of Software Solutions Partenres (SSP)systems. It has been created to deliver a wider range of commercial lines products to its 750 members and drive growth in the…
Electronic processing lags behind MRG's target
The Market Reform Group found that 45% of the total market volume of in-scope claims are being processed electronically, falling short of MRG's target of 60% for the end of Q3.
GAB Robins continues accounting drive
GAB Robins has announed the appointment of Carolyn Steeper as a senior adjuster and forensic accountant in its major and complex loss division.
PWS expands into Colombia
London-headquartered specialist international broker PWS, has announced that it has opened a new office in Bogotá, Colombia and has appointed Ian Webb as its president.
Transamerica continues EU expansion with Madrid office
Life reinsurer Transamerica Re has announced a continuation of its expansion into the European life reinsurance market with the opening of a representative office in Madrid
UIB appoints North African region representative
United Insurance Brokers appointed Ali Belamri as a new representative for the North African Region.
DWF hails staged accident victory
Six men suspected of conspiring to cause accidents at roundabouts in Leeds have had their claims for compensation thrown out of court. They have also been ordered to pay the legal costs of their cases following a successful defence by law firm DWF on…
AIG opens Newcastle office
AIG UK opened its first new office for several years in Newcastle this month.
Boobier joins PB MapInfo
Former Royal and Sun Alliance property claims network manager Tony Boobier has joined Pitney Bowes MapInfo as EMEA Strategic Industry Manager.
Markel revamps D&O policy
Markel International has launch a new and improved directors’ and officers’(D&O) policy wording.
Ex head of compliance at UBS joins KPMG
KPMG Forensic has recruited Brian Dilley as a partner within its anti-money laundering and financial services practice. Mr Dilley joins from UBS Investment Bank where he spent three years, latterly as a managing director and global head of AML compliance.
Arista continues south-western push
Arista Insurance, the commercial lines underwriting operation has appointed Tracey Vivian as senior underwriter at its Bristol branch.
'87 storm repeat would cost £7bn
Risk management solutions says the impact of a 1987 strength windstorm on Britain today could cost between £4bn and £7bn across Europe.
RPC signs up reinsurance clients for online contracts service
City law firm Reynolds Porter Chamberlain has signed up reinsurers Glacier Re and Hiscox for its new “ReWord” internet service that allows reinsurers to cut the time they spend checking reinsurance contracts and identifies legal risks.
IT is continuing problem says report
Escalating IT costs are the biggest concern for insurance managers, according to a research report by Straight Marketing on behalf of esist Insurance Technology. The report claimed that because of cost over-run, failures to deliver on time and inability…
Markel announces revamped D&O wording
Markel International has relaunched its directors and officers' policy with a new wording. The re-launch follows recent legal changes that have further heightened the risk exposure for directors of UK companies.
Isle of Man launches captive review
The Isle of Man government has launched a strategic review to find ways of improving the competitive edge of its captive insurance industry.