News
MVRA opens membership to Smart repairers
Motor repair trade body MVRA has opened its membership to 'Smart' repairers. This is the first time that a major trade body has recognised this growing sector of the vehicle repair industry and the move is seen as an important step in legitimising its…
Beazley raises £150m in debt, opens French office
Beazley Group has announced it has conditionally agreed to raise £150m of Lower Tier Two long term subordinated debt, through the issue of Fixed / Floating Rate Subordinated Notes due 2026. The proceeds of the Issue will be used to replace an existing…
Cunningham Lindsey makes a wave of recruits
Cunningham Lindsey has announced a wave of recruits to its Specialist Adjusting Network as part of its recruitment and expansion drive.
AMG rebrands
AMG is celebrating the first anniversary of its £62m Management Buy-Out in October 2005, with the launch of a new brand and logo.
John Lewis launches new financial services company
The John Lewis Partnership has launched Greenbee - its new direct services company which will offer a range of financial, travel and leisure services.
R3 Group acquires Naafi Financial
R3: Group has acquired NAAFI Financial from Close Brothers Military Services Limited.
AIG buys US marine business from Arch
AIG has announced that one of its wholly owned subsidiaries has purchased the US Ocean Marine business from Arch Insurance Company.
Scottish Re completes new deal
Scottish Re Group has announced that subject to finalization of customary treaty terms, it has completed a reinsurance transaction with an independent third party that will provide the Company with additional liquidity of up to $120m.
Swiss Re promotes US chief to head Financial Services
Swiss Re has announced that Roger Ferguson will assume the leadership of Financial Services and become Member of the Executive Committee with immediate effect.
Court ruling boost for Hank Greenberg
The former chief executive of the American International Group, Maurice “Hank” Greenberg, has, according to the New York Times, won the right to see memos that were turned over to the New York attorney general, Eliot Spitzer, before the state accused Mr…
Aon Insurance Managers appoints Clive James as managing director
Aon has today announced the appointment of Clive James to Group Managing Director of Aon Insurance Managers Global, the captive management division of Aon Captive Services Group.
First Assist Group disbands as Ablett steps down as CEO
First Assist is to split into three independent businesses from 1 January 2007 with the parent group disbanding and group chief executive Tim Ablett stepping down.
Oval appoints new chairman
Broker consolidator Oval has appointed Oliver Stocken as its new chairman.
Marsh and Aon see falling PI rates
Brokers Marsh and Aon have both reported falling professional indemnity premium rates, as solicitors' renewal deadline of 1 October passed.
Current model for private capital in Lloyd's unsustainable says report
Lloyd's has published its recomendations for a change in the way private capital is invested in the market.
AIG creates Takaful subsidiary
AIG has launched AIG Takaful, a regional company headquartered in Bahrain, providing Shariah compliant insurance solutions (Takaful).
IUA elects new chairman
The International Underwriting Association has elected Stephen Riley as its new chairman.
Alea US specialty sale completes
Bermudian (re)insurer in run-off, Alea Group has announced that its subsidiary, Alea North America Insurance Company, has completed sale of its Delaware excess and surplus lines carrier, Alea North America Specialty Insurance. Company to Insurance…
SSP starts trading on AIM
Broker software house SSP started trading on the Alternative Investment Market this morning with a capitalisation of around £70m and a placing price of 98p per share.
High profile investors in £100m insurance buy-out
An investor group, led by Jonathan Marland [and including financier Michael Spencer, fund manager Crispin Odey and Carphone Warehouse Co-Founder David Ross] has recently exchanged contracts on the purchase of the right to manage Insurance Capital…
IRM delegates wary of Enron repeat
In a vote at the Institute of Risk Management's (IRM) annual risk forum, 94% of the 350 attendees sa...
Catlin claims record results at half-year mark as new US offices open
Catlin Group has announced what it described as "record" net income for the six months ended 30 June...
Aon Re poach Fac boss from Benfield
Aon Re Global has appointed Elliot Richardson as head of its global cedent facultative reinsurance a...
Make sure you're near the exit when he blows!
Mark Geoghegan finds a kindred bear-ish spirit - and says hello to the soft market of 2007 and beyond