News
Fitch changes rating outlook for global reinsurance market
Fitch Ratings has announced that it has revised its rating outlook for the global reinsurance sector from negative to stable. Prior to this change, Fitch had maintained a negative rating outlook on the sector since 2001.
Converium announces loss for Q2 figures
Converium made an operating loss of $300.4m for the second quarter of 2004, down substantially on the profit of $61.9m it made over the same period of 2003.
Insurance managers more likely to resign, says new research
Resignations amongst insurance managers have increased in the year to January 2004 as movements in earnings continue to stutter, according to research by the Chartered Management Institute and Remuneration Economics. The results, from a survey of 21,987…
New Re picks Sunopsis
Munich Re subsidiary New Re has selected Sunopsis to manage its data exchange and consolidation.
Cornhill closes direct arm
Cornhill Direct Life, the direct life insurance operation of Allianz Cornhill, is to cease writing new business after 31 December 2004. The direct life business will then be placed into run off, alongside the Cornhill Life division which closed to new…
Lloyd's outsources training centre to CII in five year deal
Lloyd’s has appointed the Chartered Insurance Institute to run its training and development centre in a five year deal.
Zurich reveals outsourcing deal
Zurich today announced that it has signed a global information technology applications outsourcing agreement with Computer Sciences Corporation.
Fitch downgrades ERC
Fitch Ratings has downgraded its insurer financial strength rating on Employers Reinsurance (ERC) to 'AA-' from 'AA' and its long-term and related senior debt ratings on ERC's parent company, GE Global Insurance (GE Global) to 'A-' from 'A'. The rating…
XL Re Europe appoints Romagné
XL Re Europe has announced the appointment of Bertrand Romagné as senior vice president and head of the Property Treaty Department.
Aon report claims compensation culture exists in UK
Broker Aon has hit back at recent claims that there is no compensation culture in the UK with its own report.
Survey claims US P/C market softening
The commercial property/casualty insurance market In the US showed signs of continued softening in the second quarter of 2004, with one-third of the small accounts and more than half the medium and large accounts experiencing significant premium…
BMA lays out takaful proposals
The Bahrain Monetary Agency (BMA) has published a consultation paper that sets out proposed rules to regulate the takaful (Islamic insurance) and retakaful industry.
QuestGates recruits Cunningham Lindsey director
Graeme Monce, previously business development director at Cunningham Lindsey, is to work with specialist loss adjuster QuestGates in a similar role.
Alan Boswell Group expands
Independent insurance and financial services company, Alan Boswell Group, is expanding the local service offered by its Attleborough office.
Arc Legal will offer insurance to Lancaster's customers
Arc Legal Assistance has been appointed to offer legal costs insurance to Lancaster Insurance Services, the insurance agent for the MG Owner's Club.
Axa gets A rating
AM Best Co. has affirmed the financial strength rating of A- (Excellent) of AXA Corporate Solutions Insurance. The rating has been removed from under review and assigned a stable outlook.
Creechurch in capital deal
The Creechurch Group, which includes Creechurch Underwriting, has accepted an offer from a subsidiary of the Logan Trust Group to acquire the entire issued capital of Creechurch Holdings.
One in seven fails to get holiday insurance warns Asda
Millions of people will book last-minute holidays over the next two weeks, but according to ASDA many holidaymakers are forgetting their travel insurance.
Towergate completes acquisition of HHH specialist scheme business
Towergate Underwriting Group has completed the acquisition of over £4.25m of specialist gross written premium from Hill House Hammond.
CII elects new officers
The Chartered Insurance Institute elected its new line-up of officers for 2004-2005. The elections take effect from the hand over of presidential pffice at the conclusion of the CII’s UK Insurance and Financial Services conference on 1 October 2004.
Darwin Rhodes cements City base
Insurance recruitment agency Darwin Rhodes has opened a new headquarters in the City. The premises i...
Managers do not 'switch off'
Insurance managers refuse to switch off from work commitments when they go on holiday, according a n...
Path to success: Corporate Account Handler
Kathryn Dunsmore, corporate account handler at Bland Bankart, and winner of the Sheikh Abdullah Foundation Young Broker of the Year Award in May, talks of her career so far
Murphy joins DLA
DLA has announced an expansion of its contentious reinsurance/insurance team with the appointment of new partner David Murphy from Eversheds.