News
EU Reinsurance vote gets Tuesday slot
The EU Re-insurance Directive is now scheduled for debate this evening in Strasbourg, with Peter Skinner MEP leading the debate. The vote should take place tomorrow (Tuesday).
New Fitch report looks at UK non-life market
UK non-life insurers have recently enjoyed good operating conditions, certainly an improvement on the underwriting climate of the late-1990s, according to a new report from ratings agency Fitch.
Profits at DAS despite market wobbles
Legal expenses insurer DAS has recorded increased pre-tax profits, but bemoaned the troubles in the after-the-event insurance market.
Fast growing broker sets up warchest to target top 50
Broker Moorhouse Group has launched a £5m fund to buy brokers and books of SME business in order to enter the UK top 50 within three years.
AIG rating lowered to AA at S&P
Standard & Poor's Ratings Services has lowered its long-term counterparty credit and senior debt ratings on American International Group to 'AA' from 'AA+' and removed it from CreditWatch with negative implications.
Insurers sue over WTC shortfall claim
A group of 10 (re)insurers that includes members of Lloyd’s of London is suing the Port Authority of New York and New Jersey over a claim by the Authority that it is separately insured for a $2.1bn shortfall in Silverstein property insurance.
Garamendi comments on California compensation reforms
California insurance commissioner John Garamendi has called for an 18% decrease in workers’ compensation pure premium rate in the state.
Alea hopes for smooth run in 2005
London listed reinsurer Alea said it had not experienced any unusual reserve developments in the first five months of the year, in a trading statement following its AGM yesterday.
Sainsbury's denies health cover failure
PMI: Retailer closes door to new business after only 12 months in the sector
London market broker announces sale
THB has today announced that it has completed the sale of its Glasgow based broking division, Marshall Ewart & Graham, to JW Group. It has also reached a separate agreement with another company for the purchase of its Leeds based broking division, THB…
Swiss Re unveils management structure changes
Swiss Re has announced that it is aligning its management structure to its strategic objectives. Focusing on profitable growth and the efficient use of capital, Swiss Re said that it will structure itself into three business functions to be named Client…
AIG Europe calls for pension scrutiny
AIG Europe (UK) is urging HR directors and pension trustees to examine their pension scheme’s exposure to death-in-service benefits. This is necessitated by the increasing number of life companies who are seeking to cap their total exposure in the event…
Biba goes to Sussex by the sea
The British Insurance Brokers’ Association has revealed details of its 2006 annual Biba Conference and Exhibition. The conference will take place at the Hilton Brighton Metropole Hotel between Wednesday 26 and Friday 28 April 2006.
New entrant in price boast
Quinn Direct today revealed that it has acquired over 20 000 customers for its "low cost motor insurance" since its launch in the UK in early February 2005. The company said it is currently gaining around 1000 motor customers a week with half of its…
AIA calls for better approach to regulation
The American Insurance Association (AIA) has urged state insurance regulators to change their chaotic and costly approach of individual states issuing investigative subpoenas whenever an insurer comes under scrutiny.
Independent Insurance: the liquidator speaks
The joint provisional liquidator of Independent Insurance Dan Schwarzmann has written a letter to update policyholders on the progress as regards the future of the Provisional Liquidation of the company. As a result of the work since the provisional…
New study looks at US MedMal awards
US medical malpractice awards are increasing in line with health care costs and are probably not the main driver of soaring malpractice premiums as portrayed by many doctors, according to a new study.
Highway broker business aiming for 100 000 policies
Motor insurer Highway has added another 5,000 policies to its fast growing retail division by acquiring a personal lines book of business from broker LRG Insurance Services.
Turner to replace Finn at Brit
Brit Insurance has appointed Jonathan Turner to head its reinsurance operations. Mr Turner will be taking over from Richard Finn who shortly retires after many years with the Group.
NU boss lauds Ebay potential
The head of one of the UK's leading affinity insurers has predicted that non-insurance internet brands are likely to represent one of the most fruitful areas moving forward.
On the starting grid
Formal graduate schemes are back in favour. Rachel Gordon looks at what different company schemes have to offer and speaks to the graduates in question
Heath Lambert raises £20m war chest but closes pension
Broker Heath Lambert's immediate future appeared safe this week after it secured a war chest of £20m...
Appointment at Aon
Aon has made Eric Hagman non-executive chairman of the company's risk services division in Scotland....
Top 50 broker shutdown raises new concerns
Further discrepancies concerning client and insurer monies held by brokers could be set to emerge in...