News
Indiana could see more than $800m economic losses after floods - report
The State of Indiana could experience more than $800m of economic losses after floods wreacked havoc in the state last week, press reports say.
Max Specialty can write in California
Max Specialty, Bermudian (re)insurer Max Capital's excess and surplus lines insurer, has obtained approval to underwrite in the state of California.
Insurers keeping wary eye on California wildfires - AM Best
The number of homeowners claims coming in from more than 30 active fires in California may be minimal, but insurers remain concerned about a fire season that has started earlier than usual in 2008.
Lacking demand for commission disclosure: IIB
The Institute of Insurance Brokers has said that there is virtually no demand for commission disclosure amongst certain businesses.
European safety campaign gets public supporter
Alliance Corporate Risk Management has thrown its support behind a Europe wide bid to improve risk assessment and injury prevention in the workplace, the company announced today, just before the launch of a major safety campaign.
New Energy insurer Torus launches in London and Bermuda with $720m
First Reserve Corporation, the company beind the 2006 Petrel Re energy sidecar for Validus Re and Sideris Re, has joined forces with a group of senior insurance practitioners to create a new specialist insurance company, Torus Insurance Holdings Limited …
Alec Finch London undergoes management buyout
Alec Finch London has been acquired by its management, it parent has disclosed.
Marsh aviation reinsurance team to transfer to Guy Carp
Marsh and its MMC reinsurance broker sister company Guy Carpenter have announced that Marsh's aviation reinsurance team is to transfer to Guy Carpenter by the end of 2008.
Biba: Still no demand for mandatory disclosure
There is still no evidence that commercial insurance customers want mandatory commission disclosure, according to the British Insurance Brokers' Association.
Evolution enters "under-valued" market
Commercial underwriting specialist Evolution Underwriting has launched a product to cater for the vacant property market, it considers "under-served".
Goshawk agrees to £45.7m takeover
Bermdian (re)insurer in run-off and owner of Rosemont Re, Goshawk has announced that it has reached agreement on the terms of a recommended cash offer to be made by Enstar Acquisitions for the entire issued share capital of the London-listed firm.
Martin makes way for Hall as Zurich Global Corprate CEO
David Hall has been named as the new chief executive officer for Zurich Global Corporate UK.
SCA firms downgraded again, outlook still negative
Ratings agency Moody's has downgraded the insurance financial strength ratings of financial guarantee (re)insurers XL Capital Assurance (XLCA), XL Capital Assurance (UK) and XL Financial Assurance (XLFA) to B2, from A3. The outlook is negative.
Evolution enters ‘difficult’ vacant property market
Commercial underwriting specialist Evolution Underwriting has launched a product to cater for the under-served vacant property market. Vacant Property Protector provides a simple solution for brokers in a class of business traditionally regarded as…
£45.7m Goshawk deal agreed
Enstar Acquisitions has reached an agreement on the terms of a recommended £45.7m cash offer for the entire issued share capital of Goshawk. Enstar Acquisitions is a wholly owned subsidiary of Enstar, newly established for the purpose of making the Offer.
Erinaceous Insurance Services consigns name to history with rebrand
Erinaceous Insurance Services, which was recently sold to a new investment company owned by three major high street banks, has announced that it will be changing its name to Barbon Insurance Group.
MMA claims director Bob Still leaves insurer
Bob Still, claims director at MMA Insurance - and long standing member of the Post Claims Club Advisory Board has left the company, Post has learnt. It is understood he left the insurer on Monday.
Hannover in exclusive life deal with India's GIC Re
Global reinsurer Hannover Re has reached an exclusive cooperation agreement with India's government-owned reinsurer GIC Re regarding the joint development, marketing and underwriting of life reinsurance business in India.
Joint MDs to leave Cunningham Lindsey Europe
Cunningham Lindsey Europe has announced that joint managing directors Gerard Böttcher and Pim Polak Schoute are leaving the company.
New claims managment system launching
Legal and Professional Claims, the specialist professional indemnity claims and risk management company, has announced it will launch a new claims management service on 26 June.
MMA ramps up commercial with Towergate hire
MMA Insurance has appointed Steve Ormrod as bespoke trading manager.
MMA continues to ramp up commercial arm with Towergate hire
MMA Insurance has appointed Steve Ormrod as bespoke trading manager.
Aon Middle East opens new regional HQ
Aon Middle East has announced the opening of its regional headquarters in the Dubai International Finance Centre after being granted a full license to operate.
Broughton takes up new chairmanship
Ai Claims Solutions has appointed Steve Broughton as chairman of AI Claims Solutions from 1 July 2008.