News
Lloyd's is outperforming its competitors according to Sperryn
Simon Sperryn, chief executive of Lloyd’s Market Association has congratulated the Lloyd's market on its interim results which were published this morning.
Aviva appoints group chief accountant
Aviva will appoint Tim Harris to the role of group chief accountant, reporting to Andrew Moss, group finance director, from mid November. The move is subject to regulatory approval.
Atrium profits fall
Atrium Underwriting's six month pre-tx profits have fallen to £7.9m (30 June 2005: £13.7m).
Lloyd's first half profits hit £1.35bn
Lloyd's has reported profit before tax of £1.35bn in first half of 2006, and an improved combined ratio of 86% compared to 87.3%.
Catlin unit launches cat bond
Catlin Group has announced that Catlin Insurance Company of Bermuda intends, subject to completion of contractual arrangements, to enter a catastrophe swap agreement that would provide it with coverage of up to $200.25m in the event of a series of severe…
Broker Pavilion reports 53% profit increase
Pavilion Insurance Network has reported gross written premiums for the first half were up 53.98% to £1,400,915 (2005: £909,755).
Lycetts and Hamilton & Partners combine forces
Lycetts, the UK’s leading independent broker to the rural sector is combining with Hydra House the holding company for Hamilton & Partners, Hamilton & Partners (Ireland), as well as Highflyer Bloodstock Agency. The new holding company, Lycetts Holdings…
ABI announce their views on new FSA proposals for regulatory reform
The Association of British Insurers (ABI) have announced that the FSA’s consultation paper “Prudential Changes for Insurers” (CP06/16) is good news for the industry.
Treating Customers Fairly – a speech made by John Tiner
John Tiner, chief executive of the FSA spoke at the Asset Management Conference on 21 September about the FSA Treating Customers Fairly (TCF) programme.
Moody’s updates rating methodology for financial guaranty insurance sector
Moody's Investors Service has released an updated rating methodology for the Financial Guaranty Insurance sector.
IUA in Solvency II push
A new website has been launched by the International Underwriting Association to discuss Solvency II, the planned new European solvency regime for insurers.
Crawford updates fraud guide
Crawford & Company and Davies Lavery Solicitors have published the latest edition of ‘Fraud Investigation - a claim handler’s guide, Summer 2006’.
Aon Re poaches Fac boss from Benfield
Aon Re Global has announced that Elliot Richardson will be head of its global cedant facultative reinsurance activities.
FSA reports discrepencies between brokers and insurers over contract certainty
The Financial Services Authority has said that it will make a "final assessment" on whether the market has suceeded in meeting its challenge to end the practice of 'deal now, detail later' in January.
Law Commission may abolish consumer disclosure duty
The Law Commission is considering the abolition of the duty of disclosure, at least for consumers, under major proposals to overhaul current insurance contract law.
Ex L&G fraud boss to join VFM
Nick Sugden, formerly head of fraud management at Legal and General Insurance, is joining VFM Services in the role of business development manager on 1 October.
Alexander Forbes promotes Mitchell in Manchester
Alexander Forbes has appointed Peter Mitchell as the new head of its Corporate Risk Solutions division in Manchester.
2,000 to go by 2008 in Swiss Re-GEIS cull
World number one reinsurer Swiss Re has announced a programme of up to 2,000 job cuts worldwide by the end of 2007 as part of its bid to squeeze annual savings of $300m from its merger with GE Insurance solutions.
Former Axa UK boss joins Liv Vic board
Liverpool Victoria has appointed Mark Austen and Dennis Holt as non-executive directors, with immediate effect.
Sterling hires Pritchard as COO
Sterling Insurance Group has appointed Tony Pritchard as director and chief operating officer. Tony will lead the operational areas of the group including customer services, information technology and business support.
Marsh appoints northern regional sales leader
Marsh has appointed a new northern regional sales leader to boost development in the North of England and Scotland.
Swinton signs £70m refinance deal
Manchester-based broker Swinton has appointed Lloyds TSB Corporate Markets to provide its operational banking facilities.
Hardy buy-out approved by Lloyd's
Hardy Underwriting Group has announced that the Council of Lloyd’s has approved the application for consent to make a minority buy-out of the third party capacity currently remaining on Syndicate 382.
Announcement from Hastings Insurance Services
Hastings has announced, with deep sadness, that group financial controller, Duncan Ayre, has passed away after a short period of illness.