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Willis resolves commissions enquiry without a fight and $50m

Willis Group Holdings has reached a comprehensiveagreement with the New York Attorney General and the Superintendent of Insurance for New York to resolve issues raised by the industry-wide investigation into contingent commissions.

Cunninghams in ROI tie up with Aston

Cunningham Lindsey UK and Aston & Associates, based in the Republic of Ireland, are in the final stages of agreeing terms on a reciprocal arrangement for personal, commercial and casualty adjusting work.

AM Best rates Central Re

AM Best has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to Taiwan-based Central Reinsurance. The outlook for both ratings is stable.

March Japan quake third most expensive

The earthquake that hit the Japanese city of Fukuoka in northern Kyushu on 20 March 2005 was the third most expensive for earthquake insurance in Japanese history, according to the General Insurance Association (GIA) of Japan.

BIBA renews Letsure contract

BIBA has renewed its contract with Letsure to provide the BIBAlet let property insurance product range to its members.

Parliament approves law against uninsured drivers

Motorists driving illegally without insurance will face more effective on-the-road detection, and possible confiscation of their vehicles, under tough new legislation that has now been agreed by both Houses of Parliament.

Moody’s rates Scor VIE

Moody's Investors Service has assigned a Baa2 insurance financial strength rating (IFSR) to Scor VIE, the wholly-owned Life & Accident Reinsurance subsidiary of Scor which has a Baa2 IFSR. The rating outlook, in line with that of Scor, is positive.

AM Best downgrades Inter-Ocean

AM Best has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” for the reinsurance subsidiaries of Inter-Ocean Holdings.

Munich Re execs questioned on AIG link

Executives from Munich Re have met officials from the office of New York Attorney General Eliot Spitzer to discuss the company’s dealings with American International Group (AIG).

Events

14 April Insurance Institute of London lunchtime lecture - Aviation Lloyd's Old Library, London E...

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