News
Post & Insurance Age scoop journalism gongs
Post Magazine and Insurance Age editorial staff have received four awards at this year's British Insurance Brokers' Association Journalist of the Year event.
Fitch affirms PartnerRe ratings
Fitch Ratings has affirmed the 'AA' (very strong) insurer financial strength rating of Partner Reinsurance.
Managers in insurance overworked, according to CII survey
Managers in insurance are overworked, put business ahead offamily, and work within a negative culture, according to a survey released today by the Chartered Management Institute and Adecco. The Business Energy Survey questioned over 1,500 managers across…
THB recruits trio for board
AIM-listed broking group THB today announced three new appointments to strengthen the board with effect from 1 July 2004. THB also announced that it intends to split the roles of chairman and chief executive, presently held by Vic Thompson, with the…
Moody’s predicts strong growth for China market
China's insurance sector, both in life and property and casualty (P&C) industries, is set for strong growth, according to two new reports from Moody's Investors Service.
Axa in new bank tie up
National Australia Bank had awarded a travel insurance contract to Axa in the UK. Under the contract, Axa travel insurance policies will be offered to customers of the National’s four European banks – the Clydesdale Bank, Yorkshire Bank, Northern Bank…
New BlueSky directors map out new course for business
The aerial photography company BlueSky has appointed three directors following a management buyout from Getmapping.
XL Capital announces increased capacity
XL Capital has announced that its insurance operations will provide commercial property insurance capacity of up to $500m, allowing it to underwrite entire global property programs on a selective basis.
XL gets Poland licence
XL Insurance Company (XLICL), part of XL Capital (XL), has received permission from KNUiFE, the Polish Insurance supervisory body, to carry out insurance activities in Poland. Following formal registration by the National Court of Poland the Polish…
ISO report looks at US P/C market
The U.S. property/casualty industry’s net income after taxes rose to $13.3bn in the first quarter of 2004 from $6.5bn in the first quarter of 2003 as insurers posted an underwriting profit for only the second time since the start of quarterly data going…
Sporting clubs get specialist employers’ liability
Sports underwriter, Sportscover UK, has completed development of what it claims is the first sports specific employers’ liability facility in the UK.
Medniuk new chairman of IUA
The International Underwriting Association (IUA) has appointed Tony Medniuk as its new Chairman. Mr Medniuk is group chief executive of Global Aerospace Underwriting Managers. He takes over from Stephen Cane, chief executive of Alea London who has held…
Homeowners under insured for possessions left outside, says new report
Many homeowners may be inadequately insured for possessions which are left outside, according to a new report, Home Insurance in the UK, published by Defaqto.
Willis targets M&A growth with Nordic appointment
Willis has recruited Charlotte Legergren as a Stockholm-based senior specialist.
St Paul renews Law Society PI deal
The Law Society and insurer St Paul have reached agreement in principle on a framework to continue their joint venture for the provision of solicitors’ professional indemnity insurance for at least five years. The extended arrangements will run until at…
Rubicon names new claims director
Outsource firm Rubicon has appointed Bob Northmore as technical claims director.
Hiscox targets new PI market
Hiscox Insurance has launched a new professional indemnity policy, specifically designed for the newly regulated market of secondary intermediaries.
NAIC issues TRIA extension call
The National Association of Insurance Commissioners (NAIC) has called on the US Congress to adopt a two-year extension of the Terrorism Risk Insurance Act (TRIA).
Plans for 'Insurance University' unveiled
The Chartered Insurance Institute and Cass Business School have created an ‘Insurance University’ to improve management performance and provide a demonstrable industry career path for graduates.
Share crash wipes out over 10% of JLT's value
Broker Jardine Lloyd Thompson has seen over ten per cent of its share price wiped out today.
Alea apoints new CEO
Alea has promoted Mark Ricciardelli from group president and chief operating officer to group president and chief executive officer with immediate effect. Mr Ricciardelli has also been appointed an executive director of Alea.
Axa group CEO confirmed for CII role
Henri de Castries, president of the management board and CEO of Axa will address the 2004 UK Insurance and Financial Services Conference.
Analyst calls for JLT to cut costs
UBS analyst Ben Cohen today cut his target price on Jardine Lloyd Thompson’s stock to 370p a share from 490p in an emailed note to investors.
JLT hits back at analyst concerns
Broker Jardine Lloyd Thompson Group has responded to the UBS analyst comment which prompted its share price to crash by over 10% earlier to day.