News
Misys may sell insurance arm
Software supplier Misys has indicated it may sell its general insurance arm, in order to focus on it...
New member to Willis Commercial Network
The Willis Commercial Network has recruited another member by signing up Commercial and Agricultural...
Appointment at Garwyn
Keith Wise has joined loss adjuster Garwyn from Capita subsidiary Teceris as divisional director, he...
FSCS declares 33 firms in default
The latest declaration by the FSCS on 9 November 2005.
Lloyd's given China go-ahead
Lloyd’s has announced today that it has been given the green light to establish an on-shore reinsurance operation in China.
Hiscox mulls Bermuda move
Hiscox, one of the leading players in the Lloyd’s market, is considering moving its parent company to Bermuda.
QuestGates wins Legal and General contract
Following a complete market review by Legal and General, the insurer has appointed QuestGates as its sole liability adjuster. The contract, which is for both investigation and, where appropriate, cradle to grave claims handling, was awarded following…
PXRE announces $300m collateralised reinsurance deal
PXRE has announced that it has entered into a $300m collateralised reinsurance agreement with Atlantic & Western Re, a Cayman Island reinsurance company.
SVB given S&P rating boost
Ratings agency Standard & Poor’s has revised its Lloyd’s Syndicate Assessment on SVB Syndicates 2147 and 1007 from ‘1pi’ to ‘2/stable’ after carrying out an interactive rating assessment for the first time.
SCOR rating affirmed by AM Best
AM Best has affirmed the financial strength rating (FSR) of B++ (Very Good) and issuer credit rating (ICR) of ‘bbb+’ of SCOR (Paris) and its main subsidiaries (collectively referred to as SCOR Group).
Lloyd's Omega latest player to open in Bermuda
Omega Underwriting has announced a £90m share placing aimed at raising funds to open a new Bermudian subsidiary.
Insure and Go removes terror clause
Intermediary Insure and Go has announced that it will remove terrorism exclusion from its travel policies.
Brit Insurance appoints non-executive director
Brit Insurance, today announces the appointment of Mr Joseph Patrick MacHale as a non-executive director with effect from 9 November 2005.
AIG discovers $500m hole in accounts
American International Group, (AIG) has announced it will delay the filing of its Form 10-Q for the quarter ended September 30, 2005 after discovering a number of errors that include a $500m hole in its accounts.
Integro opens Georgia office
Frank Kinnett has joined Integro to lead the firm's insurance brokerage operations in the Southeastern United States from a newly established office in Atlanta.
KKR exits from Willis investment
Willis has announced that two of its largest shareholders commenced a secondary offering of 6.1 million shares of common stock. The offered shares are being sold by Profit Sharing (Overseas), Limited Partnership, an affiliate of Kohlberg Kravis Roberts…
Fitch downgrades PXRE to BBB+
Fitch Ratings has downgraded the insurer financial strength rating on PXRE's lead operating subsidiaries, PXRE Reinsurance and PXRE Reinsurance Company, to 'BBB+' from 'A-'. Additionally, Fitch has downgraded the rating on PXRE Capital Trust I's…
RenRe’s Currie streamlines reporting with key promotion
In a move that unifies the oversight of both specialty and reinsurance lines into one position, RenaissanceRe Holdings has announced that Kevin O'Donnell has been promoted to president of its Renaissance Re subsidiary.
ABI backs government clamp down
The war against the uninsured driving menace has today entered a new phase, according to the Association of British Insurers.
Government unveils further uninsured driving crackdown
Tough new enforcement action to crackdown on uninsured drivers has been unveiled by Transport Secretary Alistair Darling.
Cologne Re Dublin downgraded by AM Best
AM Best has downgraded the financial strength rating to A- (Excellent) from A++ (Superior) and the issuer credit rating to “a-” from “aa+” of Cologne Reinsurance (Dublin). (CRD). All ratings have been placed under review with negative implications.
AM Best affirms and withdraws ratings of Rosemont Re
AM Best Co. has affirmed the financial strength rating (FSR) of B (Fair) and issuer credit rating (ICR) of “bb“ of Rosemont Re. Both ratings have a negative outlook. Subsequently, the ratings will be withdrawn and an FSR rating of NR-4 (Company Request)…
JLT launches OneHealth
JLT has launched OneHealth, an integrated solution to reduce the cost of sickness, absence and employee health protection, focused on the SME sector.
Hurricane damage to keep rising, claims GE
The amount of damage that hurricanes inflict will continue to rise, along with their frequency and severity, according to speakers at a recent Hurricane Symposium in London held by The Insurance Leadership Institute of GE Insurance Solutions.