News
Moore tops RAA elections
Scott Moore, president and chief executive officer of PartnerRe, has been elected chair of the Reinsurance Association of America (RAA) by association members.
British firms warned over EU imports
European Union harmonisation could leave British importers liable if products sourced from joining countries do not comply with EU legislation, according to a survey by EuroChambres.
Lloyd's Names' profits attributed to low 02/03 claims forecast
The Association of Lloyd's Members‘ Lloyd’s Results Summary’ has forecasts that individual members of Lloyd’s - Names - may make pure year profits of 20% of capacity in each of 2002 and 2003 - significantly greater than Lloyd’s average.
AA warns of stealth tax for motor insurance
The AA has warned that government proposals to charge drivers every time the Fire Service attends road traffic accidents could bump up the social costs of car insurance premiums to around £70.
Swiss Re issues WTC statement
Swiss Re has issued its first public comment on the verdict in its favour in the World Trade Centre trial in New York.
Select & Protect adds Life-Link to key accounts
Select & Protect, provider of household and mortgage payment protection insurance cover, has added Life-Link to its key accounts.
Government publishes guidance for directors of quoted firms
The Government's Operating Financial Review Working Group today published guidance for company directorsproducing Operating and Financial Reviews, which will be a requirement for all UK quoted companies from the beginning of 2005.
Ajax one of first brokers to get FSA nod
Liverpool-based Ajax Insurance Brokers has received its "minded" to authorise letter from the Financial Services Authority. The first letters from the FSA were due to go out this week, although no general insurance brokers will be officially authorised…
XL America moves offices
XL America, a subsidiary of XL Capital, has announced plans to relocate four of its business units and over a hundred employees to new offices in Hartford, Connecticut.
Biba launches new income protection scheme
The British Insurance Brokers’ Association (Biba) has announced the launch of a new income protection scheme. The scheme will offer today’s UK workers, irrespective of age, occupation, or gender, a tax-free cushion of up to £12,000* against the risk of…
Arig sells holdings in Al Ahlia
Arab Insurance Group (Arig) has announced that it is to sell off its entire holdings of Bahrain-based Al Ahlia Insurance.
Aon underwriting result hit by costs
Aon Corporation recorded a 9% increase in consolidated revenues to $2.6bn for the first quarter of 2004 compared to the same period last year. The company said that although its insurance underwriting results were negatively influenced by increased costs…
McMullan joins Heath Lambert
Heath Lambert Group, Europe’s largest independent insurance and reinsurance broker has announced the appointment of Ian McMullan as director of Heath Lambert Financial and Professional Risks.
Final verdict in WTC trial
The jury in the World Trade Center (WTC) trial in New York has delivered a final verdict.
Admiral brings in Merrill Lynch for float
Admiral today announced that Merrill Lynch International has been appointed as global co-ordinator, bookrunner and sponsor in relation to the proposed share offering and that Citigroup has been appointed as joint lead manager.
Crawford acquires trio of adjusters
Crawford & Company has acquired French adjusters Cabinet Mayoussier, Cabinet Tricaud and TMA.
PartnerRe appoints Renggli
Bermuda-based PartnerRe has appointed Thomas Renggli as the head of finite reinsurance, global.
Zurich appoints UK GI head
Zurich Financial Services Group has, subject to regulatory approval, appointed Ian Stuart as CEO of UK General Insurance Business, reporting to Axel P Lehmann, CEO Europe Personal and Business.
Swiss Re completes Admin Re purchase
Swiss Re has completed its previously announced Admin Re acquisition of CNA Financial Corp.’s individual life insurance business for approximately $700m.
Cross steps-up at Aon's captive arm
Stephen Cross has been appointed to the position ofchief executive officer of Aon Captive Services Group (ACSG), Aon's captive management and risk finance consulting operations.
CII claims Certificate in Insurance exams success
The Chartered Insurance Institute (CII)'s Certificate in Insurance examinations, held for the first time in April, have been an instant success with candidates achieving a near 100% pass rate in two of the six subjects and an average 80% pass rate…
FSA sends out minded to authorise letters as mortgage deadline looms
he Financial Services Authority has started to send out minded to authorise letters to firms conducting mortgage or general insurance business. The first MTA dispatch consisted of more than 1000 letters — although the majority relate to mortgages.
MMA joins Lloyds TSB panel
Intermediary-only insurer MMA is to join the household panel of Lloyds TSB Insurance with effect from 1 May.
Hiscox announcement on WTC jury verdict
The jury in Phase I of the Silverstein/WTC coverage trial returned a verdict yesterday, Thursday 29th April 2004.