News
PXRE “exploring alternatives” as crucial 'A' rating lost
The future of PXRE looked increasingly in doubt as the catastrophe reinsurance specialist unveiled massive increases in hurricane losses, saw its financial strength rating downgraded to B++ from A- by AM Best, and said it is exploring “strategic…
RFIB ups middle east presence with Dubai office
Lloyd's broker RFIB has established a representative office at the Dubai International Financial Centre.
PBS opens London office
Primary Broker Services has established a London office to develop opportunities locally and in the South-East.
Broker sees growth in 'buy to let' insurance market
Specialist commercial schemes broker Camberford Law has reduced rates on its unoccupied property scheme by up to 30%. The Scheme which has been running almost 10 years provides the full range of covers for all types of unoccupied residential/commercial…
NU closes BSM call centre with loss of 60 jobs
Norwich Union's subsidiary driving school BSM, part of RAC, is to close its Wakefield call centre in July with the loss of 60 jobs.
Adjuster in Lloyd's insurer win
Amlin Insurance Services has added Questgates to its panel of adjusters, following a trial period during which it handled property and liability claims for the group.
Atrium hurricane losses fall
Lloyd's underwriter Atrium has announced its hurricane loss estimates have fallen £8m to £59m.
Fusion hires two for London-based claims roles
Fusion Insurance has appointed Ian Jolly and Ben Robins as claims negotiators based in London.
Converium: renewal market “less favourable than expected”
Swiss reinsurer Converium has issued a renewal statement in which it expresses general satisfaction with the renewals season, but disappointment that conditions did not live up to the most optimistic post-hurricane expectations:
AM Best gloomy on 2006 reinsurance market outlook
AM Best has extended its negative outlook for the US and Bermuda reinsurance markets for 2006.
Business Award for Atkinson Smith
Insurance brokerage and risk management firm Atkinson Smith Limited, a member of the ProAktive Risk Group, has been named Business of the Year by its local Chamber of Commerce in Doncaster. The judges commented: “Atkinson Smith is a company that has been…
RSA launches new charities scheme
Royal & Sun Alliance has launched Sector 3, a new proposition designed specifically for charities and not-for-profit organisations.
Fortis in exclusive negotiations to form joint venture with PO
Fortis in exclusive negotiations with Irish Post Office to create financial services joint venture. The insurance group said it was chosen for exclusive negotiations with An Post, the Irish Post Office, to create a financial services joint venture.
Zurich outlines $1bn cost cutting plan as GI profits rise 54% in 2005
Zurich this morning said its general insurance business saw its operating profit rise 54% to US $1.9bn in 2005. It claims the improvement was supported by the strong underwriting performance in the Europe general insurance and International GI arms, an…
Exams - steps to success
With the Chartered Insurance Institute putting the finishing touches to April's written exam session...
Stress not a priority for HR departments
Stress in the workplace is considered to be the least important human resources issue by HR professi...
FSA launches small-firm e-learning
The Financial Services Authority has launched an e-learning package, designed to help small firms wo...
Two awards for Allianz
A senior manager at Allianz Cornhill Engineering has been awarded two prizes at this year's Chartere...
Axis Capital Holdings reports net income
Axis Capital Holdings has reported net income of $90.1m (£52.1m) for 2005, compared with net income ...
UK bears brunt of Aon cuts
The UK accounted for nearly 60% of Aon Group's $158m (£91m) restructuring costs in 2005, the broker ...
What the papers said this week
Financial Times Investment bank JP Morgan reignited speculation about a tie-up between Aviva and ri...
Top 10 brokers increase premium income by 32%
The UK's leading 10 brokers and networks are cementing their position in the UK, and are the only fi...
Spitzer fallout sees Willis profits drop 29%
Global broker Willis has reported a 29% drop in profits during 2005, blaming its $50m (£29m) settlem...
Oxygen recruits two senior executives from Aon
Oxygen has recruited two senior executives from Aon to its Lloyd's accredited broking operation, Oxy...