News
Collins poaches Benfield exec for southeastern US
US reinsurance broker Collins has announced that Scott Fest has joined as senior vice president
Hannover Re raises $106m to support securitisation
Hannover Re has raised a further $106m from investors to support its ‘K5’ risk securitisation, unveiled last year. The ‘K5’ vehicle now stands at $520m.
Tiner to quit FSA
John Tiner, CEO of the Financial Services Authority intends to step down later this year.
FSA gives insurers final warning over adverts
The regulator has warned insurance firms to stop using savings claims which could mislead consumers in their advertising or face regulatory action. The move was predicted by Post Magazine back in November.
Swiss Re launches latest mortality bond
Swiss Re has launched a $705m mortality catastrophe bond via vehicle Vita Capital III Ltd.
Atrium establishes new space consortium at Lloyd's
Atrium is broadening its space coverage as part of a realignment of its underwriting activities in 2007.
Omega pushes up to £275m capacity for 2007
Omega Underwriting has issued a bullish trading update, declaring an increased capacity plan off the back of a new offshore energy account.
AA Insurance: Motor premiums rise the highest since records began
The cost of an average annual car insurance premium rose sharply over the last quarter of 2006 to its highest ever level, the latest benchmark AA British Insurance Premium Index claims.
Morrell joins Direct Choice as deputy MD
AA Insurance has announced that Jon Morrell is to join the business as deputy managing director of its subsidiary, Newmarket-based broker Direct Choice. He will report to its managing director, Adrian Parry.
UK support behind Lloyd's record capacity
Limited liability Names and UK listed corporates have been the mainstay support in helping Lloyd’s increase its capacity for 2007 to a record £16.1bn, a 9% increase on last year’s total of £14.8bn.
Insurer toasts victory over RSA in contested car hire claim
Royal and Sun Alliance stands to pay "substantial" legal costs in a dispute over a £610 replacement car hire claim, according to insurer DAS. The order to pay the claim and full costs was made in the High Court by the Hon Mr Justice Morison.
DAS unveils new structure
Legal expenses insurer DAS has created two new management roles as part of a reorganisation of its underwriting department under the direction of head of underwriting, Mike Timmons.
Zurich launches Broker Alliance Programme
Zurich, has today announced the launch of its new Broker Alliance Programme, a brand new market offering that recognises the full potential of brokers’ general insurance portfolios.
Lloyd's CEO pays tribute to departing director
Lloyds chief executive Richard Ward has paid tribute to Julian James, director worldwide markets, who is leaving the market to join broker Lockton International at the end of April.
Former Chubb boss takes the reins at Ecclesiastical Ireland
Specialist insurer Ecclesiastical has appointed Ronan Foley as country manager for Ireland, based in Dublin. Mr Foley joins Ecclesiastical from Chubb where he was a UK regional manager responsible for their operations in the South East of England.
Medelowitz leaves BLG to head practice at Norton Rose
Reinsurance lawyer Michael Mendelowitz is jumping ship from Barlow Lyde & Gilbert to head rival Norton Rose’s insurance and reinsurance practice.
Capacity increase no cause for celebration says Lloyd's chief
Lloyd's is preparing to announce record capacity for the 2007 year of account, according to reports.
Lloyd's boss James quits for Lockton
Lockton International has swooped for Chris Brown, Paul Jack, Julian James and Neil Nimmo who will lead its four main business areas as executive chairmen.
CastlePoint in $50m IPO
Bermudian reinsurer CastlePoint Holdings has filed with the SEC for an initial public offering of shares to raise $50m.
Hardy ups dividend after review
Following a recent review of its overall capital management strategy Hardy Underwriting has increased its final dividend for the year ended 31 December 2006 to 10p per share (a 21% increase on last year's dividend of 8.25p);
Alliance & Leicester signs affinity deal with Equity
Equity Insurance Group has signed an affinity partnership for motor insurance with financial services group Alliance & Leicester. The Essex based insurer secured the three-year deal following a competitive tender.
Alec Finch sold
Manchester-based broker Alec Finch has today been sold to French broker Verlingue, which claims to be the tenth largest broker in France. Alec Finch has offices in Halifax, London and Manchester and the move is the first venture outside France for…
European insurance body appoints new director general
Michaela Koller has been appointed as director general of CEA, the European insurance and reinsurance industry federation.
Lloyd's insurer completes disposal
Brit Insurance has agreed final terms for the sale of its stake in Epic Investment Partners Limited to Syndicate Asset Management. SAM will also acquire the other shares in EIP from the other shareholders simultaneously. Completion is expected on 19…