News
Guy Carp hires UK retro specialist
Marsh group reinsurance broker Guy Carpenter has announced the appointment of Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately.
Guy Carp hires Welton for London retro practice
Guy Carpenter has hired Simon Welton as senior vice president of the firm’s UK retrocessional practice, effective immediately. Mr. Welton, 41, will be based in London, reporting to managing director James Boyce.
BDMA attempts to educate public on flood recovery
The British Damage Management Association has published a leaflet entitled ‘Understanding Basic Flood Recovery Procedures’ which it hopes will give flood victims an idea of what the recovery process might entail.
CCV premium up to £70m with latest buy
Cullum Capital Ventures has announced its latest acquisition, with Worthing–based Crawford Davis joining the group.
Thompsons reveals public distrust for personal injury reforms
A survey of over 1,000 claimants by Thompsons Solicitors shows overwhelming opposition to the government's reform for the personal injury claims process.
NU backs bill to tackle dereliction
Norwich Union has welcomed the Government's plans to tackle what it calls the 'deliberate dereliction' of empty shops, offices and factories. The move is part of a package of measures from the Department for Communities and Local Government, which is…
Ecclesiastical run-off scheme marks PwC's fifth in a week
A solvent scheme of arrangement for the reinsurance business written through the GLM Pool was sanctioned by the High Court on 9 July 2007.
CII welcomes personal finance education
The CII has welcomed the proposals set out by the Government for developing the national curriculum, particularly the proposal to strengthen the personal finance element that will be contained within it.
90% of auditors admit witnessing fraud
Nine out of ten UK audit partners have witnessed some form of fraud at their audit clients over the past 10 years, according to Grant Thornton.
Hector Sants succeeds Tiner as FSA boss
Hector Sants has been appointed chief executive of the Financial Services Authority. He will take up the post on 20 July 2007, succeeding John Tiner who steps down at the Annual Public Meeting on 19 July.
Corporate sales restructure at DAS
Following a strategic reorganisation of sales operations at DAS Legal Expenses Insurance Company, Andy Westall has been named as head of corporate partnerships. He takes up his new role with immediate effect.
Aon couldn't advise Bright on contracts
Ian Winter QC continued his cross-examination of Terry Masters focusing on a meeting Mr Masters had with Michael Bright on 2 March 2001, writes Olivier C Laurent .
Paris Re IPO goes for €19.35 a share
European reinsurer Paris Re has announced that its Euronext Paris Eurolist IPO will raise between €224.5m and €258.2m dependent on take up of over-allotment options, for a sale of between 13.6% and 15.6% of the company at €19.35 a share, valuing the firm…
Bright feared hostile GE bid for Indie
Michael Bright was worried that GE Frankona might launch a hostile takeover of Independent Insurance in 2001, writes Olivier C Laurent .
Indie Trial: Bright feared hostile GE takeover bid
Michael Bright was worried that GE Frankona might launch a hostile takeover of Independent Insurance in 2001, writes Olivier C Laurent.
QBE increases European presence
QBE has increased its European market share with the acquisition of two Swiss motor insurers.
Brokers waste £2.3bn profits each year says report
The British insurance broking industry is wasting £2.3bn worth of profit every year, according to a new study by business analysts Plimsoll Publishing.
Bright shared concerns over ceded premiums
Michael Bright shared Terry Masters' concerns on the amount of premium Independent Insurance would have to pay to Ireco , writes Olivier C Laurent .
FSA retail distribution review is an opportunity says Bland
Stephen Bland, director of small firms at the Financial Services Authority (FSA), addressed the ABI conference about the Retail Distribution Review: preparing the ground for debate on Thursday 12 July.
Assurant buy boosts income £6m
Assurant Solutions has acquired Swansure Group, adding an estimated £6m to its income.
Oval acquires £16m Warrington business
Oval has acquired Warrington based Creamer Group Plc. This is Oval’s first move into the North West and the seventh acquisition in as many months.
GCFac three in court victory against Marsh
The Court of Appeal in London has handed down judgment in a hard-fought case where Marsh sought to recover ground lost when three senior executives from Guy Carpenter’s facultative reinsurance division decided to jump ship to Integro, a rival broker in…
FSA to consider amendments to rules
The Treasury has today announced changes to the Financial Services and Markets Act, which will reduce the current burden on firms in the financial sector and the Financial Services Authority (FSA).
Max Taylor to join FSCS board
The Financial Services Authority has appointed Max Taylor as a non-executive director of the Financial Services Compensation Scheme effective from 1 September 2007.