News
Incisive Media dominates Biba awards
Journalists across the Incisive Media Insurance Division - including Post Magazine, Insurance Age and Cover - scooped a host of awards at this year’s British Insurance Brokers’ Association Journalist of the Year Awards held in London today.
Satchell new head at ABI
Keith Satchell, group chief executive of Friends Provident, is the new chairman of the ABI (Association of British Insurers). He takes over from Richard Harvey of Aviva who has concluded his 2-year term.
Ashes tickets for auction - deadline 18 July
The winner of two tickets in the Vertex sponsored prize draw at last week's British Insurance Awards has donated his prize to charity. Kevin Roberts of Royal and Sun Alliance has offered his prize of a hospitality package for two for the England v…
FSA moves to simplify rule books
The Financial Services Authority today set out the first phase of its programme to simplify its Handbook and remove unnecessary Rules and Guidance from the Approved Persons regime, the Training and Competence regime and its Anti-Money Laundering rules…
Reinsurance renewals “lack uniformity”, claims Aon
One of the overriding characteristics of the 1 July reinsurance renewals this year has been their lack of uniformity, according to Aon.
AM Best turns negative on Munich Re
AM Best has placed the ratings of Munich Re Germany and its rated subsidiaries under review with negative implications.
Mutual associations publish new code of conduct
The Association of Mutual Insurers and the Association of Friendly Societies have announced the publication of a new code of corporate governance for the mutual insurance sector.
Admiral warns rivals they face loses
Motor insurer Admiral today said that its plan to “decelerate growth” was going to plan, but warned of a difficult second quarter to 2005 if the market does not adjust to accomodate claims inflation.
Apil questions Compensation Bill
The Association of Personal Injury Lawyers has claimed the upcoming Compensation Bill must include steps to promote better education to reassure the public that they cannot be sued when genuine accidents happen.
CIS GI director to leave organisation
Andy Watson, CIS general insurance director, is to leave the organisation to take up an external appointment.
THB turnover rises 3%
THB Group plc, the parent company of Lloyd’s broker Thompson Heath & Bond has reported a profit before tax of £2.2 million for the year ended 30 April 2005 on turnover up 3 per cent to £32.4 million.
Willis releases construction market overview
Willis Group Holdings has released its 2005 Global Construction Market Overview. The report is a comprehensive analysis of the worldwide construction insurance market and includes commentary from various global market centres on market conditions…
RenRe executive quits over SEC subpoena
RenaissanceRe Holdings has announced that Michael Cash, an executive in its specialty reinsurance unit, has resigned following his refusal to accept a subpoena from the US Securities and Exchange Commission (SEC).
RMS issues Dennis damages estimate
Risk Management Solutions (RMS) has announced that insured losses from Hurricane Dennis are likely to be between $1bn and $5bn.
Broker Network acquires Lincolnshire companies
Broker Network Holdings has announced the goodwill and asset purchase of two brokerages - Harrow Insurance Consultants, of Wrawby, Lincolnshire, and David Christian Insurance Brokers, Waltham, north east Lincolnshire.
Hardy stresses Omega will have to up offer
Hardy Underwriting has welcolmed the Takeover Panel’s deadline for Omega to make a formal offer for the company.
Broker network profits up 63%
Broker Network Holdings has announced its preliminary results for the year ended 30 April 2005.
Marsh reveals new chairman
Broker Marsh today announced the appointment of Sir Peter Middleton to the newly created role of non-executive UK chairman for the next three years.
Burrows moves to CMGL from Capita
The Claims Management Group (CMGL) has appointed Mike Burrows as business development executive for its London Market Division.
Omega welcomes Hardy deadline, claims to have shareholder support in principle
Omega has responded to the ‘put up or shut up’ deadline by the Takeover Panel by admitting it is still holding “informative and positive dialogue with Hardy shareholders”.
GAB Robins issues first adjuster statement since attacks
GAB Robins - the nominated adjuster for Transport for London - has said it activated its Disaster Plan as a result of the shocking events on Thursday 7 July.
Regulator tells Omega to 'put up or shut up' over Hardy approach
Lloyd’s insurer Omega has been given just over a fortnight to either ‘put up or shut up’ with regards to its proposed acquisition of larger rival Hardy.
Moody’s pulls financial strength rating for Sompo Japan
Moody's has announced that it has withdrawn the Insurance Financial Strength Rating (IFSR) of Sompo Japan Financial Guarantee Insurance (SJFG).
Hiscox disposes of shareholding
Lloyd’s insurer Hiscox this morning announced that its subsidiary, Hiscox Insurance Company (Guernsey), has disposed of a 49 per cent interest in Heritage Group.