News
Moody's upgrades Hannover Re
Moody's Investors Service has upgraded the insurance financial strength rating (IFSR) of Hannover Re...
Spitzer widens AIG compensation probe
New York attorney general Eliot Spitzer and insurance superintendent Howard Mills have announced the...
Genworth Financial subpoenaed by SEC
Genworth Financial has said that it received a subpoena from the United States Securities and Exchan...
Grant Thornton makes non-life push with ex-E&Y team
Grant Thornton has appointed two new partners, a director, and five other professionals in its financial markets group.
AIG files delayed 10-K
American International Group (AIG) has finally filed its 2004 Annual Report on Form 10-K with the Securities and Exchange Commission, after repeated delays.
S&P upgrades after rating policy changes
Standard & Poor's (S&P) has upgraded the credit ratings for seven insurance holding companies, citing a change in its rating policies.
Advent float set for Friday
Advent Capital shares will commence trading on the Alternative Investment Market on Friday 3 June 2005 after the Lloyd's insurer raised £65m.
D&G growth continues
Warranty specialist Domestic and General Group has announced turnover in its core lines grew by 8.9% to £220.7 million, in the 12 months to 31 March 2005.
BPS closure blamed on client fund handling
The Financial Services Authority has pointed to deficiencies in the client money accounts of broker BPS Insure Limited - after it banned the firm from trading and placed it in administration.
Misys Countrywide Network targets new members
Misys Countrywide has announced plans to expand its membership base in response to brokers' renewed interest in trading via a network post-January 2005.
BPS Insure appoints administrators
General insurance brokerage BPS Insure has today appointed administrators from insolvency practitioners Begbies Traynor following a decision by the Financial Services Authority (FSA) on 5 May to withdraw its permission to sell new policies.
Heath Lambert claims to be out of the woods
Heath Lambert Group has completed the "final stage of its financial restructuring" and attracted "significant" additional capital from new investors, including two of its existing banks, Royal Bank of Scotland and Credit Suisse First Boston.
Harris steps in at Groupama
Groupama Insurance has appointed Lynn Harris as proposition development manager.
RWA sets up London Market Solutions
Regulatory compliance specialist RWA Group has established a new company to provide coverholder audits and other technical support to both insurers and Lloyds Syndicates.
First Assist wins after-the-event court case
FirstAssist, the After-the-Event (ATE) Insurance specialist has won its ATE test case against Norwich Union and other defendants.
FSA announces broker fees
The FSA today published the final Financial Services Authority fees and the Financial Ombudsman Service levies for 2005/06. In addition, the FSA has announced a review of the funding regime.
Questgates swoops for GAB director
Graeme Shurben, business development director at GAB Robins, is to join QuestGates, where he will take on responsibility for the development of the company’s northern operations.
SVB forecasts steadying ship
SVB Syndicates has announced updated quarterly forecasts for its managed syndicates for the 2003 and 2004 Years of Account, together with the 2002 run-off Year of Account, as well as commenting on trading to date in 2005.
Zurich admits misrepresentations to APRA
The Australian Prudential Regulation Authority (APRA) today accepted Enforceable Undertakings from Zurich Australian Insurance Limited (ZAIL) and Zurich Financial Services Australia Limited (ZFSA) arising from two financial reinsurance transactions with…
Civil suit filed against AIG
Authorities in New York have filed a civil lawsuit against American International Group (AIG) and two former top executives of the insurance company, saying they committed fraud and manipulated its books to deceive regulators and investors.
Towergate Professional Indemnity Push
Towergate have announced the creation of a new professional indemnity underwriting agency and support centre based in London under the trading style of ‘Towergate Underwriting – Professional Indemnity’.
Appointments complete Highway distribution team
Motor insurer Highway has appointed Alexander Connon and Steve Halliday as regional account managers.
Apil welcomes claims regulation debate
The Association of Personal Injury Lawyers has responded Prime Minister’s speech on compensation and risk, maintaining its argument the compensation culture is a myth.
FSCS reduces 2005/6 levy but admits Whiteley not factored in
Financial Services Compensation Scheme has updated its initial 2005/06 levy requirements to take account of a substantial recovery now expected from the KWELM estate, of which it is a creditor.