News
FSA publishes RDR feedback statement
The Financial Services Authority (FSA) has published its Retail Distribution Review (RDR) feedback statement outlining proposals to give more consumers confidence and trust in the retail investment market, at a time when consumers need real help and…
Wells Fargo Insurance Services buys Michigan risk manager; says not done yet
Wells Fargo Insurance Services, the US bank-owned insurance brokerage said it has acquired the assets of Troy, Michigan's Doeren Mayhew Risk Management for an undisclosed sum.
AIR launches inland flood model
Catastrophe modelling company AIR Worldwide Corporation has launched an inland flood model for Great Britain.
FTSE surges after UK pre-budget report, Citi bailout
The FTSE-100 is up over 9% after a rescue plan for ailing US bank Citi was added to by UK Chancellor of the Exchequer announced a series of measures to help Britain's struggling economy.
Corporation tax increase on small businesses postponed
The 1p tax increase for small businesses, from 21% to 22%, set to be introduced next year has been suspended by chancellor Alistair Darling in his pre-Budget report today.
Value of claims rise 58%, says ABI
More businesses are being helped by their trade credit insurance policies, according to figures published by the Association of British Insurers.
New emergency protection policy launched for individuals
Assurant Solutions has written a new type of insurance cover for individuals designed to provide assistance in the event of an accident or emergency.
Totty outlines First Assist restructure
First Assist Legal Protection is restructuring its business areas to focus on growth opportunities in 2009.
Former Swiss Re head of US alternative investments goes to private equity firm
Aquiline Capital Partners, a New York-based private equity firm investing in financial services, announced today that Deborah Bernstein and Jason Rotman have joined the firm as investment professionals.
ISO acquires Atmospheric and Envrionmental Research
Modelling agency ISO announced today it has acquired Atmospheric and Environmental Research, Inc. (AER), a premier environmental and scientific research and predictive modeling company. Terms were not disclosed.
Hiscox teams up with RI3K for reinsurance purchases
Specialist insurer Hiscox will launch a trial of the RI3K trading service for part of its 2009 reinsurance purchases this month.
GAB Robins grabs new account
GAB Robins has been appointed by Cassidy Davis to provide investigation services on payment protection insurance claims, the company announced today.
KGM increases capacity to £73m
KGM Motor Insurance has increased capacity for 2009 by 35%.
Aon comments on changing buyer market
Company sellers are facing a new hurdle as buyers are increasingly seeking to recover damages for financial discrepancies on the cusp of completion, said Aon today.
Tokio Marine net income drops nearly 76%
(BESTWIRE) - Tokio Marine Holdings Inc. reported 75.9% drop in net income to 18.1 billion yen in the six months ended Sept. 30 as the Japanese economy experienced a slowdown in exports attributed to the global economic downturn.
Aegis forms leisure team with ex-QBE underwriters
Aegis London has appointed Peter Lodge and Stephen Kiedish from QBE to form a new UK leisure team to underwrite risks across the leisure industry.
Oxygen appointed as sole broker for Tiga members
Oxygen Insurance Brokers has been appointed as sole intermediary for members of Tiga, the games developers' trade association.
Dubai, Saudi development corporations to roll out credit insurance services
The Dubai Export Development Corporation (EDC) and the Islamic Corporation for the Insurance of Investments and Export Credit (ICIEC), a member of the Islamic Development Bank Group (IDB) headquartered in the Kingdom of Saudi Arabia, have agreed to offer…
Warrant & Indemnity policy requests up 60% - Aon
Company sellers are facing a new hurdle as buyers are increasingly seeking to recover damages for financial discrepancies on the cusp of completion. In response, according to global insurance broker Aon, there has been a 60% increase in enquiries for…
Citi bailed out by US government
Citi, the world's biggest bank, was bailed out by the US government on Sunday night in a deal that puts AIG's prop-up into shade.
AIG's Asian life insurance unit Alico in M&A talks - report
A consortium headed by sovereign wealth fund China Investment Corp is in preferential discussions to take up to 49% of AIG's American Life Insurance Company unit (Alico) with a deadline fixed for the end of the year, reported Japanese newspaper Nikkei.
Brit appoints central regional manager
Brit has appointed Rosie O'Gara as regional manager for its central region.
Flagstone Re appoints new CFO
Flagstone Re, the Bermudian (re)insurer, said that it has appointed Patrick Boisvert as chief financial officer in addition to his responsibilities as chief financial officer of the group's main operating company, Flagstone Reassurance Suisse SA.
Assurant Solutions launches roaming cover
Assurant Solutions, a global provider of specialised insurance and insurance-related products, has created a new type of insurance cover for individuals that acts as a virtual 'best friend' – taking care of an individual in a crisis.