News
Bupa individual protection reduces critical illness rates
Bupa Individual Protection is reducing the cost of its critical illness cover by an average of three percent with immediate effect.
Groupama Insurances launches nationwide roadshows
Groupama Insurances is offering a 'behind the scenes' look at the business in a series of Open Days and regional Broker Roadshows across the UK.
FSA investigation finds Aon made payments to Burma
In its report into Aon's £5.25m fine over "failing to take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems", some payments were made to third parties in Burma, the regulator said.
Advent ups Ike estimates due to losses on energy account
Advent has increased its estimated losses for Hurricane Ike from £15m before tax, as reported in its third quarter results, to a current estimate of £42m before tax.
$3m dollar ransom paid for supertanker
The Somali pirates who captured the Saudi supertanker MV Sirius Star have released the ship and crew after a $3m dollar ransom was paid.
CEA sets out key issues arising from QIS4
The CEA, the European insurance and reinsurance federation, today set out the key issues that were highlighted in a Solvency II impact study.
Swinton completes IAG deal
Insurance Australia Group has confirmed that the sale of the Equity and Open and Direct branch network to Swinton Group completed yesterday.
CEA sets out key issues highlighted by insurers after QIS4 exercise
The CEA, the European insurance and reinsurance federation, today set out the key issues that have been highlighted by insurers as a result of last year's QIS4 exercise, the fourth quantitative impact study run by the Committee of European Insurance and…
Senior Aon Benfield fac broker resigns
A senior facultative broker has resigned from Benfield Fac, Reinsurance has learnt.
Dual launches range of management liability products
Dual Corporate Risks has launched a new range of management liability products for the UK broker market, Post can reveal
PB Week: Aon given largest financial crime fine
Today Aon was fined 5.25m pounds by the Financial Services Authority after the regulator gave the broker its largest financial crime related fine writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
Global property business leads Jubilee portfolio expansion
Jubilee Managing Agency (Jubilee), the specialist Lloyd's insurer, has announced the first of its new business lines, with the launch of a Global Property account, part of its strategy to expand and diversify its product portfolio.
Aon UK CEO expects other brokers to be investigated
Aon UK chief executive Peter Harmer told Reinsurance Magazine that he expected other brokers to be investigated by the FSA following today's announcement that the broking giant had been fined a record £5.25m fine by the Financial Services Authority.
Bank of England drops rate to 1.5%
The Bank of England has dropped its base rate to 1.5% following a meeting of the Monetary Policy Committee. This is a reduction if 0.5% and the lowest rate in the bank's history.
SFO launches Madoff investigation
The Serious Fraud Office is opening an investigation into Bernard Madoff's UK business operations.
Aon "recognises and regrets" £5.25m FSA fine
Aon has said it "recognises and regrets" the failings that led to the Financial Services Authority fining it £5.25m
Catlin appoints chief underwriting officer for US operation
Catlin, the Lloyd's (re)insurer, has appointed that Joseph Horan has been appointed chief underwriting officer for its Catlin US reinsurance business.
FSA fines Aon £5.25m
The Financial Services Authority has today fined Aon £5.25m - its largest ever financial crime-related fine.
Abu Dhabi government seeks increased insurance regulation
The government of Abu Dhabi is seeking to increase insurance regulation in an effort to continue to grow in the United Arab Emirates.
Helphire names new chairman
Richard Rose has been appointed as the new chairman of Helphire.
Greenberg slams AIG's HSB sale
Former AIG chairman and chief executive Maurice "Hank" Greenberg has slammed AIG's $742m sale of Hartford Steam Boiler to Munich Re.
IPC Holdings ups Ike, Gustav estimates
IPC Holdings, the Bermudian (re)insurer, has upped its estimate of claims from hurricanes Gustav and Ike by approximately $47m to a total estimate of approximately $135 million, net of reinstatement premiums.
Delta Lloyd and ABN AMRO continue joint venture
Aviva's Dutch-based business Delta Lloyd Group and ABN AMRO Bank Netherlands are to continue their insurance joint venture known as ABN AMRO Insurance.
Agricultural insurance in China expected to reach $1.8bn in 2008
Agricultural insurance premiums in China are expected to reach nearly $2bn in 2008, experts at Swiss Re have said in a report.