News
Moody’s reviews SCOR ratings for possible upgrade
Moody's Investors Service has announced that it has placed the Baa1 Insurance Financial Strength Ratings of SCOR and its various subsidiaries, as well as SCOR's Baa1 senior and Baa3 subordinated debt ratings on review for possible upgrade.
SCOR buys up Revios
French reinsurer SCOR has bought up Revios for €605m. It plans to combine Revios with SCOR Vie, creating SCOR Global Life and in the process becoming the fourth largest life reinsurer in the world.
Blanc adds to Towergate team
Towergate has announced further strengthening of its retail broking division with a trio of appointments.
FSCS admits few broker claims of "significance" so far
The Financial Services Compensation Scheme, the UK's financial fund of last resort for customers of financial services firms, paid out £201.22m of compensation to consumers in 2005/6, compared to £174.71m in 2004/05.
Primary launches social housing broker
The Primary Group has launched a new broker serving the needs of the social housing market.
Fitch rates RIC
Fitch Ratings has assigned Russian Insurance Centre an International Insurer Financial Strength rating of 'B' and a National IFS rating of 'BBB-(BBB minus(rus))'. The outlook is stable.
Primary arm in new three year deal
Direct Group has struck a 3 year deal to provide an end to end claims administration service for Primary Group subsidiary UKU.
GAB in senior shake up
GAB Robins group chairman Jun Tsusaka has left the role, being repalced by group CEO and president Edward Troy, who will retain the role of CEO.
JLT confirms Heath bid talks
In a statement to the London Stock Exhange, Jardine Lloyd Thompson has confirmed that it is in discussions over a possible deal to buy rival broker Heath Lambert.
Marsh expands Leicester office
Marsh has expanded its local client servicing team in the Midlands to boost development in the small and medium sized business sector in the area.
Troika hires former Direct Line e-commerce guru
Troika, the London based management consultancy specialising in retail financial services, has appointed Jon Lott as a managing consultant within its general insurance team, which is led by Andrew Veal.
SSP wins five year Camberford extension
Software Solutions Partners has announced a five year extension to its deal with Camberford Law, who has recently reviewed its systems after becoming an accredited Lloyd’s Broker. SSP will be providing managed services, including application service…
Layton Blackham reports improved performance
Broker Layton Blackham has released its 2005 results, reporting increased growth, improved profitability and profit (before the amortisation of goodwill) up by 32% to £2.5m.
Regulator slaps NU and HBOS for 'unfair' PPI terms
Three insurers have agreed to drop unfair contract terms from their payment protection insurance policies, after the regulator found they were detrimental to consumers. Norwich Union, St Andrews Insurance and Amtrust have been forced by the Financial…
Towry Law rebrands as TL Risk Solutions
Towry Law Insurance Brokers has changed its name to TL Risk Solutions, following its acquisition by Broker Network.
FSA report: 'The sale of payment protection insurance - results of thematic work'.
In November 2005 the FSA published a report, In this work, we came across terms in payment protection insurance (PPI) contracts that prevented consumers from receiving any refund if they repay their loan early outside the statutory cancellation period (…
Chubb drops DAS and RAC for Law Shield claims deal
The personal lines division of Chubb Insurance has selected LawShield UK Ltd to handle the majority of its motor claims process. This will provide Chubb’s Masterpiece Motor policyholders with a more streamlined, single-provider service for claims…
IUA forms liability group
A new liability underwriters group has been established by the International Underwriting Association. Consisting of leading underwriters from across the London Market the group will aim to aim to promote knowledge and expertise in the liability sector.
Technology - Aon boss hails progress in London electronic trading
The director of change strategy at Aon has recently asserted that electronic trading in the London m...
London market - New Lloyd's agency born as Chaucer strikes Quanta deal
Lloyd's insurer Chaucer has announced that it has signed a preliminary agreement with Quanta Capital...
Alexander Forbes' CEO resigns as sell-off talks start
Broker Alexander Forbes' group chief executive officer (CEO), Rael Gordon, has resigned and the firm...
Before you get into a sidecar, make sure you know who's driving
Mark Geoghegan looks at the extraordinary level of commitment and trust required to hand underwriting authority over to a third party
Wellington to hit target on catastrophe exposures
Lloyd's (re)insurer Wellington has reported accelerating average rate increases and said that it exp...
Expansion - Willis unveils plans for five-year buying spree to boost growth
In a recent investor briefing designed to highlight the company's five-year strategy, the Willis gro...