News
S&P lowers PXRE ratings
Standard & Poor's (S&P) has lowered its counterparty credit and financial strength ratings on Bermuda-based PXRE Reinsurance and US-based PXRE Reinsurance (collectively referred to as PXRE) to 'BBB-' from 'BBB+'.
Allianz and Capita in insurance tie up
Allianz Cornhill Legal Protection with Capita Insurance Services, to underwrite their conditional fee insurance under their Feeguardplus 2 Scheme.
Xchanging boosted by Microsoft tie up
Xchanging, the global business processing services company, has announced a 3-year, 7.5m pound investment programme and a partnership with Microsoft, in the continuing development of Genius, its general insurance business processing solution.
Lloyds heralds online and direct growth
Lloyds TSB has reported that its general insurance business saw a 22 per cent growth in profits, supported by improvements to both the claims and combined ratios, in 2005.
Wellington in $190m cash call
Wellington Underwriting this morning said its estimated consolidated loss before tax for the 12 months ending 31 December 2005 will be between £25m and £30m, against market consensus expectations for a loss of £48 million.
UIA launches new pet insurance product
UIA Insurance (UIA) has launched a new pet insurance product. This offering will be available from 1 March 2006 to members of UNISON, CWU, USDAW, AMICUS and NASUWT trade unions.
CBG adds new offices with broker deal
Community Broking Group has bought Swinburne James, a provider of general insurance broking services, and Swinburne James FS, a provider of financial services, through the acquisition of Everfirst Services, their holding company.
QBE Lloyd's see slight drop in profit as overall group GI GWP jumps 7%
QBE's Lloyd's division saw a downturn in 2004, as the rest of the general insurance group recorded improvements, it reported today.
URS increases its single line limits
Underwriting Risk Services, the specialist yacht, marine trades and fine art insurer, has received authorisation to substantially increase its single line limits on its leading specialist lines.
GEIS paper warns of US coast risks
The enormous growth in coastal population and development is dramatically increasing the potential for insured losses, according to a new paper from GE Insurance Solutions.
White Rock sets up new Bermuda company
White Rock, the Aon-owned specialist in protected cell companies and rent-a-captives, has added a segregated accounts company, White Rock Insurance (SAC) Bermuda (White Rock Bermuda), to its family.
Fusion moves head office
Following its purchase by consolidator Towergate, Fusion Insurance has moved its head office because of the need for larger premises.
CII ensures compliance with Indepth Hygiene
Indepth Hygiene Services has completed a major project for The Chartered Institute of Insurers to ensure it complies with the increasing requirements of health and safety legislation and insurance guidelines.
Davies Lavery appoints new catastrophe head
Law firm Davies Lavery has announced the appointment of Barlow Lyde & Gilbert's Head of General Insurance, Graham Dickinson.
75% of PXRE business at risk of cancellation as rivals circle
PXRE has continued to sail into stormy waters, after it reported a net loss of $446.5m for the fourth quarter of 2005 and admitted that up to three quarters of its business is at risk of cancellation.
FSSC partnership set to highlight training value
The Financial Services Skills Council has joined forces with the Return On Investment Institute in t...
CFO turnover rises by 50%
The turnover of chief financial officers has risen by 50%, according to a report by Mercer and Russe...
Call centres to employ one million by 2007
UK call centres are set to employ one million workers by the end of 2007, according to a new report ...
Winners and losers - Post Magazine's monthly round-up of job cuts and gains
Winners Capita Insurance Services acquires Aon Claims Management, the delegated claims operation of...
Zenith reviews claims networks
Motor insurer Zenith is beginning a wholesale review of its claims supplier networks, including repa...
Lord Hunt to speak at conference
Lord Hunt of King's Heath, government minister at the Department for Work and Pensions, is among the...
Appointment at Kynixa
Kynixa has made two appointments to its operational and clinical teams. Mike Lawler joins as assista...
Atrium weather losses reduced
Lloyd's insurer Atrium's steady performance was boosted this week after it announced its hurricane l...
Trial to aid motor claims
An online service to promote the use of recycled parts in motor insurance claims is set to be triall...