News
Aon Re Global Fac launches residual value unit
Aon Re Global Fac has announced the launch of a dedicated residual value insurance (RVI) centre of excellence in London.
PWS looks to boost marine division
PWS Holdings has announced the appointment of Richard Cirsch as managing director of its marine division.
Willis appoints Latin Amercan CEO
Global broker Willis has appointed Eugenio Paschoal as chief executive of its Latin America region.
Rating agency puts Swiss Re under review
Rating agency AM Best has placed Swiss Re’s financial strength rating of A+ under review with negative implications.
UK's commercial property market remains secure, report finds
A third of the UK’s commercial building stock is owned by foreign investors, a Royal & Sun Alliance report has found.
Brokers invited to join exclusive club
Norwich Union is set to invite about 300 brokers to become members of 110 - a club entitling them to extra support, rewards and benefits.
Swinton expects more acquisitions because of tax reforms
Swinton is anticipating acquisition activity to increase in the coming months as brokers rush to sell their businesses ahead of the capital gains tax reforms which come into force on April 6th 2008.
Biba expresses concerns towards Northern Rock crisis
The British Insurance Brokers’ Association has expressed concern that its members may be forced to help compensate the customers of Northern Rock, were the bank allowed to default, under new funding arrangements for the Financial Services Compensation…
Ntegrity bolsters its team
Bristol based broker Ntegrity has strengthened its team by appointing two new account executives.
XL buys loss prevention consulting firm
XL Insurance has reached an agreement with Swiss Re to purchase Global Asset Protection Services, a loss prevention consulting service provider.
Partner Re extends buyback provision
Bermudian reinsurer PartnerRe has approved an increase in its share repurchase authorisation for a total of up to 5 million common shares.
Swiss Re senior managers grilled over sub-prime loss
Stockmarkets sold off Swiss Re shares hard as senior management spent all day yesterday (Monday 19th November) in calls with analysts explaining the circumstances and outlining the possible extent of the financial damage caused by its exposure to complex…
Broker Question Time is now online
BBC presenter Paul Lewis chaired last week's Post Broker Question Time event which saw insurers, brokers and the regulator wrestle with issues as varied as conflicts of interest when insurers buy into brokers, problems with aggregators, broker…
Hyperion boosts US presence
Independent insurance group Hyperion has announced the acquisition of a liability broker in Baltimore, Maryland - strengthening its foothold in North America.
Axa unveils latest UK acquisition
Axa UK has acquired the marketing agency, Ignition NBS. Ignition NBS provides marketing and business development services to general insurance brokers and the wider professional services market.
RSA liability expert joins Cunningham Lindsey as a director
Graham Ward has joined Cunningham Lindsey as assistant complex loss director and will be based at the company's Birmingham office. Working with Stephen McCune and Alan Vallance, he will aim to provide additional management as well as business development…
Guardian CEO resigns as European premium increases 32%
Guardian Holdings Limited has announced that its European operations saw a 32% increase in premium for the third quarter of 2007.
Brokers fear insurance law reform will add to PI costs
In its response to the Law Commission, the Institute of Insurance Brokers has stated that it does not believe any amendments to insurance law should attempt to confer different rights to private and business policyholders (or any combination of the two,…
Swiss Re in $1bn credit crunch loss
Swiss Re has had to report a CHF1.2bn ($1.07bn) billion loss as it marked the value some of the asset backed securities forming part of two credit default swaps written by its Credit Solutions unit down to zero. The firm also revealed it still owned a…
Markel International Insurance upgraded to 'A' rating by Fitch
Following the recent upgrade of Markel International Insurance Company (MIICL) by A.M. Best, Fitch Ratings today upgraded the IFS rating of Markel International’s insurance company to ‘A’ with a positive outlook from ‘A-‘ with a positive outlook.
Broker network confirms deal as it outlines plan to double
Iprism has signed its second broker network, 1 Answer Network. The news comes a fortnight after announcing its first tie-up with UKGI.
NAIC proposes single-state reinsurance regulation
The National Association of Insurance Commissioners (NAIC) has released a proposal to modernise reinsurance regulation that would see a single-state regulatory environment responsible for overseeing US and non-US reinsurers.
NU bolsters property team
Norwich Union has expanded its property team by providing what it claims is the largest number of regional consultants.
Groupama kicks off graduate campaign for 2008
Following its inaugural graduate in-take in 2007, Groupama Insurances has launched its 2008 Graduate Recruitment Programme