News
AIG confirms SEC investigation
The US Securities and Exchange Commission and the Justice Department are probing the valuation of financial instruments by American International Group in the company's credit default swap portfolio, the company said.
First Title provides title insurance to Pinnacle
First Title Insurance has provided title insurance to developer and operator of warehouses in Central and Eastern Europe Pinnacle Real Estate.
New chairman of Climate Wise elected
Chief executive of Allianz Insurance, Andrew Torrance, has been elected as the new chairman of Climate Wise.
Willis in $2.1bn broker swoop
Willis has agreed to acquire Hilb Rogal and Hobbs in a $2.1bn deal.
Lifesearch backs Competition Commission on PPI
The Competition Commission’s recommendations for payment protection insurance (PPI) are “a step in the right direction”, according to LifeSearch.
Standalone PPI the answer says Paymentcare
Concerns borrowers will be put at risk by the Competition Commission’s proposed changes to the payment protection insurance market would be completely unfounded if consumers were made more aware of the standalone alternative to lenders’ own PPI,…
Broker Direct launches D&O product
Broker Direct has launched an on-line directors and officers product underwritten by AIG UK.
Man Group to buy 25% stake in Bermuda's Nephila capital
Hedge fund giant Man Group has announced that it has entered into an agreement to acquire a 25 per cent interest in Bermuda-based Cat underwriter/investor Nephila Capital for $50m in cash.
Scaled back Gulf Re gets license and A- rating
Gulf Re the Dubai-based joint venture between Arch Capital and the Gulf Investment Corporation (GIC) has been granted a licence by the Dubai Financial Services Authority (DFSA) and has been given a financial strength rating of A- by AM Best.
Caribbean Cat fund renews for 2008 season
All sixteen original member governments of the World-bank sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their 2008 policies.
Wilshire promoted at Merlin after directors leave
Chris Wilshere has been appointed to head up specialist liability loss adjusting business Merlin Liability, formerly Sigma Claims Solutions, with immediate effect.
MD of Confused to join Highway Insurance Group
Managing director of Confused Debra Williams is leaving the price comparison site to join Highway Insurance Group.
NU unveils up to 1800 job cuts with operations overhaul
Norwich Union Insurance has announced plans to make up to 1800 people redundant by 2010 as part of a plan to consolidate some back office functions.
Cardif Pinnacle appoints new chief operating officer
Cardif Pinnacle, part of the worldwide BNP Paribas Assurance Group, has appointed Bob Silverman as chief operating officer.
CNA Insurance launches new healthcare products
CNA Insurance is launching a new range of healthcare products as part of its CNA Health Pro range.
Max Capital subsidiary buys Commercial Guaranty Insurance Company
Max Specialty, the U.S. excess and surplus lines unit of Bermudian (re)insurer Max Capital, said it acquired Commercial Guaranty Casualty Insurance Company, an insurance entity licensed to write business in all fifty states plus the District of Columbia.
Post Pick of the Week Video
Post Reporter Alwynne Gwilt looks at the week's major general insurance news. This week: a trio of industry big hitters back an online SME launch; Axa CEO Philippe Maso warns about MGA power; Hastings' future in doubt as new IAG CEO flies in for…
Government asbestos consultation launched
A government consultation into a House of Lords ruling on asbestos-related condition pleural plaques will begin this month.
PB Week: Elliot Lane describes his last seven days in broking
I started the week still reeling from the news Patrick ‘The General’ Snowball had decided to move his tank from the Towergate lawns. It dawned on me that left Sandy Scott, CII chief executive, one of the highest ranking ex-servicemen in the insurance…
Axa expands protection large case team
Axa has expanded its large case team for protection products.
Aon advises firms to ready themselves for new S&P criteria
Aon is advising firms to prepare for new Standard and Poor's rating criteria and says companies can take advantage of these to improve credit ratings, in a White Paper published today.
Former NU director joins MMA
Intermediary only insurer MMA Insurance appointed John Seaton, a former director of Norwich Union, as underwriting director.
Ram Re downgraded by S&P to 'AA' from 'AAA'
Ram Holdings, the financial guaranty reinsurer, has seen the financial strength and financial enhancement ratings on RAM Reinsurance (RAM Re) downgraded from 'AAA' to 'AA' with a negative outlook, a move that it said could trigger termination clauses as…
Markel awarded fraud judgment in its favour
Markel International Insurance Company has been awarded a judgment in its favour in the Commercial Court in London in respect of litigation it commenced against Tim Higgins, Barry Williams, Cliff Felstead, Ralph Brunswick, the individuals behind Surety…