News
Mercer to become sole shareholder of French broker
March and McLennan subsidiary, Mercer, is to become sole shareholder of French health and benefits broker, Repca, in order to strengthen its position in the French market place.
Gallagher Heath agrees five year trade union deal with UIA
Gallagher Heath Insurance Services will provide motor and travel insurance to members of UK trade unions after signing a five year partnership deal with UIA.
IFB appoints Bird as full-time director
The Insurance Fraud Bureau has this afternoon confirmed the appointment of Phil Bird to the role of director on a 6 month secondment.
Montpelier Re and Mitsui stay quiet on Hardy bids
Bermudan-based reinsurer Montpelier Re and Lloyd’s insurer Mitsui Sumitomo have refused to comment on rumours that they will bid on troubled Lloyd’s insurer Hardy.
Quindell to add to Silverbeck ABS deal
Quindell is set to announce purchases and partnering arrangements to add to its alternative business structure deal with law firm Silverbeck Rymer.
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Hiscox UK secures Corporate Chartered Insurer status
Specialist insurer Hiscox UK has been awarded Corporate Chartered Insurer status.
Insurance head Chris Collins passes away
Retired Gibraltar Financial Services Commission boss Chris Collins has passed away after a short illness.
Aon acquires 80% of Spanish broker GDS
Aon Corporation has agreed to acquire 80% of Spanish insurance broker GDS from banks La Caixa and Banca March.
Brit launches PI product on Power Place
Brit Insurance has launched its professional indemnity cover on Power Place, following last year’s decision to make its D&O product available on the online commercial marketplace.
LMA names Atkin as new chairman
The chief executive officer of Talbot Underwriting, Rupert Atkin, has been appointed as the new chairman of the Lloyd’s Market Association.
Thai cat fund could prove too costly for reinsurers
International reinsurers will have to be “seriously convinced” the Thailand government’s catastrophe fund is profitable if they are to insure it.
Travelers targets brokers with event cancellation cover expansion
Travelers has expanded its event cancellation cover from the firm’s Lloyd’s syndicate to its insurance company operation in a move which is expected to provide regional brokers with better access to the product.
Groupama UK CEO quashes MBO speculation
Groupama UK chief executive François-Xavier Boisseau has ruled out a management buyout.
Anti-metal theft bill scrapped
The private member’s bill to tighten the law on scrap metal dealers has been rejected.
Trio arrested for selling fake Groupama policies
The police fraud unit has arrested three individuals suspected of selling fraudulent policies under the Groupama name.
Time lapses on second reading of Straw’s motor bill
The order to read Jack Straw’s Motor Insurance Regulation Bill a second time has lapsed.
Vienna Group expects €560m profit for 2011
Vienna Insurance Group estimates that it will have profit before taxes of €560m in 2011, the best result in the group’s corporate history.
Solvency II run-off concerns still not met
The Solvency II exemption for run-off companies fails to meet the expectations of many in the industry, according to run-off specialist Ruxley Ventures.
Jubilee says regulators thwart better PPI
Jubilee says insurers are being put off creating payment protection insurance products because of uncertainty following reviews by regulators.
Questgates completes minor recruitment drive
Growing demand is behind a minor recruitment drive at Questgates. The company has made four new appointments and promoted two.
Bermuda’s Premier Cox signs tax agreement with Turkey
Bermuda has signed a tax information exchange agreement with the government of the Republic of Turkey.
Law firm sale hinges on SRA approval
Solicitors Regulation Authority approval is required before one of the first law firm takeovers can go ahead.
Legal cover firm creates online broker portal
A motor and family legal cover provider has launched a free online portal which allows brokers to browse policies and documents on 50 types of commercial and personal lines cover.