News
Evolution launches standalone liability insurance
Broker-only specialist Evolution Underwriting has started underwriting employers’ public and general liability insurance on a standalone basis under the product title Liability Protector. Prior to this, the company underwrote liability insurance as part…
Delay in VAT sensible says adviser
As the insurance industry breathes a sigh of relief, leading business and financial adviser, Grant Thornton welcomes the Government announcement concerning a delay in the implementation of new VAT rules for the industry.
UnumProvident opens tour for customers
Visiting chief executive officer of UnumProvident corporation in the US, Tom Watjen, has opened UnumProvident UK's Customer Path Tour, a way for intermediaries and customers to gain insight into the services of the disability insurer, based in Dorking.
Board changes at Cunningham Lindsey
The board of Cunningham Lindsey United Kingdom has announced a number of new appointments at board level.
Lancashire set for London IPO and 1/1 start-up
Lancashire holdings, the class of 2005 Bermudian (re)insurer set up by former Lloyd’s underwriter Richard Brindle is set to float on the AIM market in London next week.
Ace unveils Wilma losses
Ace has announced that estimated net after-tax losses for the ACE Group of Companies from Hurricane Wilma will amount to approximately $250m, net of tax and reinstatement premiums.
XL gets $3.2bn equity issue home with ease
Bermudian (re)insurer XL Capital has announced that the underwriters of its equity fundraising have exercised their option to purchase an additional 5,076,900 ordinary shares in connection with XL's previously announced plans to sell 33,846,000 of…
Equitas settlement progress “significantly slower than hoped”
Equitas has reported much slower than expected progress on settling inwards liabilities in its half-year summary financial statement.
Carole Nash joins Countrywide network
Broker Carole Nash has joined Misys Countrywide network as part of plans to grow the business.
Imagine’s capital gets $50m boost
Imagine Insurance Company (Imagine), a specialist reinsurer and insurer, has announced an increase in its capital and underwriting capacity, as well as the affirmation of its A- (Excellent) rating by AM Best.
American Re upgraded by Moody’s
Moody's Investors Service has upgraded the insurance financial strength rating of American Re-Insurance Company (ARIC) to Aa3 from A2, and upgraded the senior debt rating of American Re Corporation (ARC) to A2 from A3. The rating action concludes a…
Arig opens Singapore branch
Arab Insurance Group (Arig) has announced the launch of a branch operation in Singapore.
Swiss Re funds GEIS takeover with securities offering
Swiss Re has announced the launch of a CHF 1.0bn mandatory convertible securities offering due 2008.
S&P raises the bar on insurers with 20% long-tail R/I charge
Standard & Poor's has revealed that from 2006 it aims to introduce a charge in its risk-based capital model for insurers to combat excessive reliance on reinsurance.
Mutual bodies respond to Myners Report
The Association of Mutual Insurers together with the Association of Friendly Societies, has published Corporate Governance for Mutual Insurers – in response to requests contained in last year’s Myners Report.
IoD: employer contributions cannot solve pensions crisis
Compulsory employer pensions contributions are not the answer to the UK's pensions crisis, business ...
CII repackages payment protection learning product
The Chartered Insurance Institute plans to launch an enhanced learning package for practitioners, of...
Time to test yourself
A selection of questions from various past-CII qualification papers
Pets win prizes for broker AFI
Elaine Fairfax, the creator of Animal Friends Insurance, was awarded first prize in the Nat West Eve...
Alea fire sale continues with European treaty rights sold to Scor
Troubled insurance and reinsurance group Alea has sold renewal rights of its European business to SCOR
The Association of Run-off Companies makes appointments
The Association of Run-off Companies, the UK run-off industry's representative body, has made two ap...
Broker poised for City buy
Acquisitive broker Stuart Alexander has been linked with a deal for London-based Bishop Skinner. Pos...
Nationwide in travel push
Building society Nationwide has launched a new travel insurance product, designed specifically for o...
Chaucer signs agreement with PXRE Reinsurance Company
Lloyd's insurer Chaucer has signed an agreement with PXRE Reinsurance Company to acquire its wholly ...