News
Avian Flu: comment from S&P
As an industry that views pandemics as catastrophic events, insurers are watching the march of avian flu with a mixture of apprehension and hope, said a report from Standard & Poor's today.
Food and beverage market tops EL price table
A new survey from broker Marsh reveals that while the employers'liability market in the UK has stabilised somewhat over the past 12 months, some businesses, particularly in the small and medium-sized sector, are still battling against increasing premium…
London market veteran Andrews to head Bermuda start up
Lloyd's insurer Amlin today announced that the underwriting team for its new US$1bn Amlin Bermuda operation will be headed by underwriting director, John Andrews.
CMGL to provide services to Commercial Express
CMGL, an independent provider of claims and insurance management services, has been appointed to provide property claims management services to Commercial Express. The claims relate to commercial and private rental properties.
Co-op shake-up sees insurance arm restructured
Co-operative Financial Services today revealed a new organisational structure.
Lawyers hail equal opportunities appeal judgement
The Employment Appeals Tribunal has departed from previous case law in deciding that men and women who perform equal work cannot be paid differently, unless employers can objectively justify the reason for doing so.
A.M Best affirms FMI rating
A.M. Best Co has affirmed the financial strength rating of A+ (Superior) of FM Insurance Company Limited (FMI) (United Kingdom). It has stated that the rating outlook remains stable.
Groupama announces restructure following acquisition
Groupama expects to become the eighth largest healthcare insurance provider in the UK with a GWP of over £60m following its acquisition of Clinicare from French mutual insurer AZUR GMF. The purchase of Clinicare was formally completed on 9th November for…
First Assist reveals underwriting change
Healthcare provider First Assist will begin formally parting company with its underwriter, Royal and Sun Alliance, on 1 March 2006 – 14 months behind its original schedule.
HCC expands international operations
HCC Insurance Holdings has announced today the formation of HCC Insurance Holdings (International) Limited (HCCI), based in London, which will act as the holding company for all international operations.
FSA: perimeter visits paint positive picture
The Financial Services Authority has reported a 'positive' outcome to its recent nationwide investigation into the level of unauthorised general insurance business being conducted. The FSA visited more than 1700 brokers and secondary intermediaries…
Perkins Slade merges with Stanford & Wood
Birmingham-based brokerage Perkins Slade has merged with Stanford & Wood in a move to expand the business. Ceo David Slade said: "The ethos of our companies is perfectly matched and I am excited about the new dimensions which Alan Stanford and Lynn…
US looks at nat cat insurance coverage
Just months after a string of hurricanes devastated the Gulf Coast and Florida with billions of dollars in damages, four state insurance regulators have begun an effort to devise a national catastrophe insurance program that would greatly reduce the need…
Fitch affirms CIIH ratings
Fitch Ratings has affirmed China Insurance International Holding's (CIIH) long-term rating at 'BBB-' (BBB minus). At the same time, the agency has affirmed the senior debt rating of 'BBB-' (BBB minus) assigned to the guaranteed issue by the wholly owned…
London Market premiums fall 15% in 2004
Gross premiums on the London Market fell 15% in 2004 to £21.7bn according to UK industry trade body IFSL. This follows five consecutive years of growth during which premiums increased by more than 80%. In 2004 Lloyd’s generated 54% of known London Market…
Wellington losses helped by favourable 2004 developments
Wellington Underwriting has updated its estimate of the impact of losses sustained from hurricanes Katrina, Rita and Wilma in 2005.
HBOS GI to deploy new call centre software
Halifax General Insurance Services has selected Verint’s Ultra software system for its five contact centres in the UK and Ireland. The Verint solution will be delivered in conjunction with partner BT.
EU announces business initiative awards
The European Union has launched a new competition to recognise and reward outstanding initiatives that have supported entrepreneurship in villages, towns and cities across Europe.
Insurance industry the only good news at FSCS
The Financial Services Compensation Scheme has said it expects no further levy on insurers or brokers this financial year, having made "significant" recoveries from a number of estates.
Rubicon launches new motor product for Naafi Financial
Outsourced solutions provider Rubicon has launched a new car product for Naafi Financial. Using a panel of insurers to provide competitive quotes to as broad a range of personnel as possible, Rubicon has developed cover that is tailored to meet the…
Moorhouse launches premium finance facility
Commercial broker Moorhouse Group has launched a new single rate premium finance facility that it claims does not discriminate against smaller brokers.
New Don Kramer company to be called Ariel Re
Reinsurance magazine can reveal that Don Kramer’s new $1bn Bermudian reinsurance operation is to be called Ariel Re and will retain a significant proportion of the infrastructure and staff of the remains of Rosemont Re, from which it has been formed.
Moody’s report looks at impact of Wilma
Moody’s has published a new report that concludes that the add-on losses of Hurricane Wilma - one of the most recent destructive hurricanes to hit the United States - will place incremental pressure on property & casualty insurers and reinsurers, but it…
PI insurers warned about market 'gold rush'
Professional indemnity insurers risk becoming caught up in Parmalat style negligence claims unless they ensure accountancy firms follow strict risk management procedures as they rush to expand practices in the fast-growing economies of Brazil, Russia,…