News
Palace asbestos claimant awarded £200k damages
A widow of an asbestos victim who worked at Buckingham Palace has been awarded nearly £200,000 in compensation in a High Court ruling today (4th May 2005). Roberta Pyle, associate and industrial disease specialist at law firm Eversheds, commented:
Aviva/RAC deal approved
Aviva has confirmed is bid to buy motoring giant RAC has been declared unconditional.
Machell to head up RAC
Aviva today announced that Simon Machell, former Norwich Union customer services director, will become the RAC’s managing director.
SEC broadens finite reinsurance probe
New York-based specialty insurance company Assurant has said that it has been subpoenaed by the Securities and Exchange Commission (SEC) as part of the agency's investigation into finite reinsurance and insurance.
RSA: McIntyre in as Boyle goes
Royal & Sun Alliance has today confirmed that Bridget McIntyre will become UK chief executive and a main board director subject to regulatory approval. Her appointment follows UK chief executive Duncan Boyle's decision to retire from RSA after 32 years…
Oxygen woo duo
London market intermediary Oxygen today announced the appointment of a new life team for its agency operation.
Broker Network completes acquisition of Wyndale
Broker Network Holdings has completed the acquisition of Wyndale Insurance Brokers, of Tottington, Bury, Lancashire.
Marsh bemoans softening market as income falls by two thirds
Marsh and McLennan today reported its net income was $134m for the first quarter of 2005 (2004: $446m).It added consolidated revenues totaled $3.2bn, and that the results include pretax charges for restructuring, employee retention, incremental…
Aon finalises transparency model
The IUA has given its backing to prospective additions to London market placing slips to promote transparency.
FWH takes on the Co-operative Bank insurance service
Folgate Warren Hill (FWH) Risk Solutions has announced a partnership with The Co-operative Bank.
QBE completes Greenhill acquisition
The Financial Services Authority has given approval for QBE’s acquisition of Greenhill Underwriting Group, with the transaction completing at close of business on 29 April.
Carole Nash secures 64% profit increase
Diversification has seen Carole Nash Insurance Consultants secure record profits for the year ended October 31, 2004.
AIG delays 10-K again, admits possible $1.2bn hole in figures
American International Group (AIG) has announced that it has delayed the publication of its 2004 annual report for the second time.
ALM reports Names' ROC hits 37%
Lloyd’s results for 2002 have revealed that Names made an average return on capital of 37% - and their profits were 29% above Lloyd’s average.
RIMS elects new board of directors
The Risk and Insurance Management Society (RIMS) has elected its board of directors for 2005-2006 at...
Could AIG be brought down by its owners?
As shareholder class-action suits widen, the future is looking increasingly bleak for American International Group
Munich Re execs testify on AIG
Executives from Munich Re have met officials from the office of New York attorney general Eliot Spit...
Former HIH chief executive jailed
Ray Williams, the former chief executive of HIH who steered the collapsed insurer for all but its la...
Hannover Re charts clear course ahead
Hannover's Chairman Wilhelm Zeller sees a profitable 2005 having riden out the storms of 2004 to return a EUR577m profit
Lloyd's reduces its reliance on reinsurance
Lloyd's of London is now less reliant on reinsurance, according to its financial results for 2004. ...
Greenberg takes the Fifth in deposition
Maurice 'Hank' Greenberg, the former chief executive of American International Group (AIG), has decl...
Why you can't slap a short-tail claims-control clause on long-tail business
A recent judgement means late notification under a claims-control clause will no longer allow a reinsurer to avoid all liability
Hannover Re profits hit by nat cat losses
An unusually high burden of major losses from natural catastrophe events in the third quarter of 200...
Aon issues terror map
Increased terrorist activity is making the world a riskier place in which to do business, according ...