News
Wellington underwriting boss announces retirement
Wellington Underwriting has announced the retirement of David Foreman, a director of Wellington and the company's Chief Underwriting Officer.
Anglo Pacific launches online broker statements
Underwriting agency Anglo Pacific Consultants is to allow brokers to see their live statements of business online at any time through its underwriting system QuoteMac, which it claims is an an industry first.
FM Global planning Latin America expansion
Insurer FM Global, has announced its fourth consecutive year of strong financial and operating performance. According to a statement, the company's net income increased by 14% to US$635m (£323m), contributing to the US$2.1bn (£1.2bn) in net income the…
Howden rebrands Swedish division
Howden, the broking division of the Hyperion Insurance Group, today announced that its Swedish operation, Holm & Co, has adopted the Howden brand. With immediate effect, the business will now operate under the name of Howden Insurance Brokers AB.
GenRe Australian execs drop finite disqualification appeals
Two former senior executives of General & Cologne Re Australia, part of the giant Berkshire Hathway reinsurance empire, have withdrawn their legal challenge to their disqualification by the Australian Prudential Regulation Authority (APRA).
Axa launches SME package
SMEs are finding red tape a huge burden on their businesses and say it is stifling productivity, according to research by AXA, prompting the insurer to launch a bureaucracy-busting package of online tools.
Aon launches business continuity review for flu pandemic
Broker Aon has launched a new pandemic business continuity review service to help businesses assess their readiness for pandemic crises from a human capital resources perspective.
Supplier says SatNav theft on the up
Toad, the automotive technology insurance replacement firm said today it has seen a dramatic increase in demand for replacement portable navigation systems. Scotland Yard released figures just before Christmas stating that 500 are being stolen every…
Buy to let scheme launched from Markel and Commercial Express
Commercial Express, the specialist buy to let insurance provider, today announced the launch of a new property owners’ facility for multi-property risks.
DAS promises broker commission for new drafting service
Policyholder requests for bespoke legal documents covering employment, grievances and complex business arrangements have prompted legal expenses insurer DAS to offer a comprehensive document drafting service.
Fitch sees ‘A’ ratings “difficult” for Class of 2005
A report published by the Fitch ratings agency has cast doubt on the class of 2005’s credit profile.
Swiss Re reports $760m prior year liability deterioration
Buried in yesterday’s 2005 annual results, Swiss Re added a 27 percentage point charge to its 2005 liability combined ratio for deterioration to its 1999-2001 underwriting years.
Moorhouse appoints Aon client services director
Jan Wilkins has been appointed corporate client service director at Moorhouse Group. She joined from AON where she was client service director for their Cardiff and Bristol operations.
Cat losses push AWAC to a 124% combined ratio for 2005
Bermudian (re)insurer Allied World Assurance Holdings (AWAC) has blamed property catastrophe losses for a combined ratio of 124% for the 2005 calendar year, set against a ratio of 95.9% a year earlier. The company also reported an an 8.6% decline in…
Allstate drops coverage level in New York
Allstate has said that it wasn't renewing some of its homeowners' policies in the New York City area for fears that a major hurricane could strike in the area, leaving the insurer overexposed.
Oxygen targets new market with hire
London market broker Oxygen is to target extended warranties markets with the hire of a new team.
Aon merges two Manchester offices
Aon announced this week it is merging its two Manchester offices to bring together 200 employees in its existing location at Arkwright House, Parsonage Gardens.
HSBC Brokers announces restructure
HSBC Insurance Brokers has adopted a new structure which will align the business into four core groupings reporting to chief executive Mike Dixon.
Cobra tops 90 brokers
Cobra Network, the independent network of commercial insurance brokers, today announced that membership has risen to ninety brokers following successful applications from PW White & Partners, based in Amersham, Buckinghamshire and Steele Insurance…
Quanta hit by further downgrades
Quanta’s problems continue after AM Best downgraded the company’s financial strength ratings (FSR) to B++ (Very Good) from A- (Excellent) and the issuer credit ratings (ICR) to "bbb" from "a-".
FSA cancels broker's permission to trade
The Financial Services Authority has issued a final notice to cancel Monarch Insurance Services's permission to trade.
Union in NU dig over profit
Trade union Amicus has called on insurance giant Aviva to pull back jobs to the UK in the light of today's profit statement.
GEIS announces strong renewal season
GE Insurance Solutions (GEIS) companies has said that it secured nearly $1.5bn of property and casualty reinsurance business in the recently completed January 1 renewal season.
Six GI intermediaries banned by FSA
The Financial Services Authority has barred nine small firms including six insurance intermediaries from carrying out regulated business after they failed to provide any data to enable the regulator to monitor their activities.