News
Our Network bags brokers
Our Network, which was launched by broker-owned insurance management company Broker Direct in August, has signed up 60 brokers in under two months.
Dow plummets as Fed plan to rescue banks fails to gain votes
(BestWire) — The Dow Jones Industrial Average plummeted 7% and 777.68 points, its largest point drop in history and largest percentage drop since shortly after the 11 September terrorist attacks, in the wake of the surprise defeat on the US House floor…
Endurance hires underwriter from Arch
Bermuda-based (re)insurer Endurance Specialty Holdings said that Joseph O'Donnell will be joining the firm as executive vice-president for the group's professional liability arm.
Liberty Syndicates grabs new underwriter from Paris Re
Liberty Syndicates has appointed Clotilde Spignesi to underwrite a worldwide trade credit reinsurance book in its Paris office.
Axa Insurance appoints FD
Jean Drouffe has been appointed finance director at Axa Insurance.
Liberty Syndicates ups focus on new business line
Liberty Syndicate Management has appointed Clotilde Spignesi to underwrite a worldwide trade credit reinsurance book in its Paris office.
NU urges employers to keep EL records despite legal change
Norwich Union has advised employers to keep a record of their employers' liability insurance cover, despite the removal of a legal requirement to retain certificates.
ABI responds to FSA over PPI
Payment Protection Insurance (PPI) has never been a more valuable product to consumers because of the current economic climate, the ABI has said.
FSA update on its review of the sale of PPI
The Financial Services Authority is to escalate its regulatory intervention on the sale of payment protection insurance (PPI), according to its thematic review update.
Chesterfield Group to start up North American division
The Chesterfield Group, a specialist independent Lloyd’s broker, today announced the formation of a new North American division.
Arch reveals weather and investment losses
Arch Capital, the Bermudian (re)insurer, said that it expects pre-tax earnings for the 2008 third quarter to be negatively impacted by the effects of Hurricanes Gustav and Ike in the range of $105-180m, net of reinsurance and reinstatement premiums.
MMC shares downgraded by Barclays Capital
Barclays Capital has downgraded its stock recommendation of Marsh and McLennan, the owner of brokers Marsh and Guy Carpenter.
XL estimates Hurricane Gustav and Ike losses
XL, the Bermuda-based (re)insurer, has predicted preliminary loss estimates, pretax and net of reinsurance and reinstatement premium, related to Hurricane Gustav range from approximately $30-35m, and estimates for Hurricane Ike of $165-235m.
Transatlantic forms special commitee to discuss AIG stake sale
Transatlantic Re said that it has formed a special committee of its independent directors that "is evaluating proposals received from American International Group relating to the possible disposition of, or other transactions involving, AIG's 59% common…
QBE bolsters property arm with ex-RSA director
As part of the expansion of its UK commercial property offering, Peter Fice has joined QBE's property division as manager of its London Market retail property operation.
Energy insurer Torus joins IUA
New energy insurer Torus has voted to join the International Underwriting Association.
New online tax forms could push up PI claims
HM Revenues and Custom’s campaign to drive online tax return forms could increase accountants’ professional negligence claims with a greater risk of filing incorrect figures Aon has claimed.
AEGIS hires new offshore energy underwriter
AEGIS London, the UK-based subsidiary of Associated Electric and Gas Insurance Services, has appointed Chris Benton as its offshore energy underwriter.
Transatlantic Re outlines hurricance losses
Transatlantic Holdings, the (re)insurer that is majority-owned by stricken US insurance giant AIG, said that net costs for Hurricanes Gustav and Ike were between $45-60m.
Rate rise predictions slammed by Irish Injuries Board
Patricia Byron, the chief executive of the Injuries Board in Ireland (previously the Personal Injuries Assessment Board) has hit out at speculation that insurance premiums should rise by 10% - 20%.
Vision Underwriting appoints new liability and commercial managers
Liability specialists Vision Underwriting, a Cheltenham-based subsidiary of Liberty Mutual Insurance Europe and a member company of the Liberty Mutual Group, has appointed Rob Price as liability manager and Richard Trinder as commercial manager.
Heath Lambert pushes public relations strategy
Heath Lambert has appointed Elliot Lane to the new role of group public relations director.
Chaucer hires new international property treaty underwriter
Chaucer Syndicates has appointed Maria Fahy as international property treaty underwriter for Chaucer Syndicate 1084.
Whittington Group makes appointment
Whittington Group, the international insurance investor and services provider, has announced that Kevin Lee Chung Wei has been appointed as the director of strategic acquisitions for Whittington Asia Pacific.