News
Premium income down in first half at Hardy
Lloyd's insurer Hardy Underwriting announced its interim results for the half year ended 30 June 2006 today, reporting gross written premium of £58.4m (2005: £65.6m).
Max Re opens aviation unit
Max Re Capital has announced that its subsidiary, Max Re, has increased its product offerings by the formation of a dedicated aviation insurance unit that will operate from the company’s Dublin offices.
AIG elects Willumstad chairman
American International Group (AIG) has announced that its Board of Directors has elected Robert B. Willumstad as chairman, effective November 1, 2006. He succeeds Frank G. Zarb, who has served as Interim Chairman since April, 2005. Mr Zarb remains an AIG…
FSA deliver speech on 'Are we heading towards over regulation?'
John Tiner, chief executive of the Financial Services Authourity (FSA) delivered a speech to the Rendez Vous de Septembre, Monte Carlo conference on 12 September 2006. Mr Tiner’s speech covered the debate on “are we heading towards over regulation?”.
Munich re wins Malaysian ReTakaful licence
Munich Re has become the first foreign reinsurer to be granted a composite license to conduct ReTakaful business from Malaysia
JLT to partner Olympic Delivery Authority on construction
Jardine Lloyd Thompson will act as insurance construction partner to the Olympic Delivery Authority.
Broker Network profit doubles
The Broker Network's profits have doubled for the year up to 30 April 2006.
Cooper Gay appoints Witthun as chairman
Cooper Gay has announced that Frank Witthun has been appointed as a director and non-executive chairman of Cooper Gay Holdings in succession to Michael Jones who has decided to step down after 14 years as chairman.
Alex Forbes hires from Marsh to launch new practice
Alexander Forbes International Risk Services has launched a private equity and corporate acquisitions practice to provide insurance and risk transfer services to businesses undertaking corporate and M&A activity.
Cardif Pinnacle To Hold Regulatory Seminar
Last March, Cardif Pinnacle held a Regulatory Seminar for clients, entitled "The PPI Challenge", which covered key regulatory issues affecting the payment protection industry. The event was such a success that a follow up seminar has been organised for…
London market launches electronic claims processing
The London insurance market has taken a significant step toward reforming its claims processes by making a electronic claims file repository available to all Lloyd's managing agents and brokers.
Principles-based regulation in action: FSA publishes principles for insurer capital adequacy
The Financial Services Authority (FSA) has today published a set of principles that will help firms determine their capital adequacy under the new principles-based approach to regulation.
FSA publishes disclosure web tool to help general insurance firms
The Financial Services Authority (FSA) has launched a 'Build your own disclosure documents' tool to help general insurance firms comply with its disclosure rules. The free online tool will help provide companies with a template based on their…
Earle's underwriting agency named InSynergy Insurance
A new commercial lines underwriting operation recently launched by Charles Earle, the former managing director of NIG Commercial Lines, has been named InSynergy Insurance.
Lancashire brings in non-exec
London-listed Bermudian start-up Lancashire has announced the appointment of Martin Nicholas Caleb Thomas as a non-executive director.
Quanta finalises ESC sale
Troubled Bermudian (re)insurer Quanta has completed the sale of its non-core Environmental Strategies Consulting company (ESC) to WSP Environmental Holdings.
Sterling appoints head of customer services
Sterling Insurance today announced the appointment of Glen Box as head of customer services.
Omega latest Lloyd’s player to redomicile to Bermuda
Lloyd’s and Bermuda (re)insurer Omega Underwriting today announced much improved 1st half results and has revealed that it is planning to redomicile its parent company to Bermuda as well as setting up a small direct US operation funded by a £35m placing…
US insurance data provider opens London office
Advisen, a provider of analytics, benchmarking and market information to the global commercial insurance industry, has opened an office in London.
JLT’s international retail boss set to go
John Hastings-Bass, chairman of Jardine Lloyd Thompson’s international retail broking operations will leave the group by the end of the year. He will step down from the Board with immediate effect, but will remain a member of the Group's Executive…
Chaucer hires Swiss Re team for engineering account
Chaucer Syndicates, the managing agency arm of Chaucer Holdings, has recruited a team to underwrite an engineering account on behalf of the property division of syndicate 1084.
DCA selects Staffordshire as its CMC intelligence gatherer
Staffordshire county council trading standards will run the monitoring and compliance unit for the regulation of claims management services.
Swiss Re to sell slice of Gherkin
Swiss Re has said it is considering selling a share in the 30 St Mary Axe tower in the City, known as the Gherkin.
HSBC Insurance Brokers set up North American broker
HSBC Insurance Brokers is setting up its own wholesale broker for North America which will be headquartered in New York.