News
DAS buys rival
DAS UK has acquired Amicus Legal and its subsidiary companies.
AIR puts Kyrill damage at $5-$10bn
Catastrophe risk modelling company AIR Worldwide estimates insured losses from Winter Storm Kyrill will be between €4bn and €8bn ($5.2bn - $10.4bn).
Broker sets out £33.7m MBO
The independent directors and the executive directors of listed broker Windsor have agreed the terms of a recommended proposal to acquire all the issued and to be issued share capital of firm. The Proposal values each Windsor Share at 52.5p, valuing the…
Zurich appoints head of motor claims supply
Emma Morgan has been appointed head of motor claims supply at Zurich Insurance, reporting to Pete Tart, claims supply chain director (Europe). Ms Morgan will be responsible for the strategic direction and management of the motor claims supply team based…
MIB warns uninsured drivers
The Motor Insurers’ Bureau (MIB) has warned that the number of bankruptcy orders against uninsured drivers is set to rise dramatically in 2007.
That was the week that was
Anthony Gould, editor in chief of Post Magazine provides a short round up of the major news in the general insurance sector this week - from what has been christened aas broker acquisition Friday through to the pending Independent Insurance trial. Watch…
XL to target food manufacturing with product recall lines
XL Insurance Company has launched a primary food and drink product contamination insurance which includes integrated crisis management cover.
UK storms set to cost insurers' billions
The 100 mph storms which swept through the country this week are set to cost insurers around $3-4bn in damage, according to a reported poll of analysts by AFX News.
Industry body welcomes India ownership change
The Association of British Insurers director general Stephen Haddrill has welcomed the Indian governments promises on overseas insurance ownership.
Allianz in new claims move
Allianz Conrhill has introduced a new team of claims business consultants tasked with helping to improve the claims experience for brokers and clients.
Plexus Law to merge with Gaston Whybrew
Plexus Law, has announced that Gaston Whybrew (GW Law) a specialist insurance litigation practice is to merge with the firm under a definitive agreement effective from 31 January 2007.
Ace in online SME push
Ace UK has launched an online agency agreement which it claims will allow larger numbers of brokers to trade with the company using a range of e-commerce distribution platforms.
AIG announces $100m BPO contract with Accenture
Accenture has signed a 10-year, US$100m business processing outsourcing agreement with AIG Europe to provide an IT platform and insurance support services to AIG Entrepreneur, an AIG unit specializing in Property and Casualty insurance for small and…
Uninsured drivers face bankruptcy warns MIB
The Motor Insurers’ Bureau (MIB) has warned that the number of bankruptcy orders against uninsured drivers is set to rise dramatically in 2007.
Willis forces Lloyd's to close doors
Willis has forced Lloyd’s to take evasive action, causing a closure of part of the market.
Guy Carpenter in Benfield intercept
The West Coast of the US has seen a transfer of broking talent as Benfield’s Garick Zillgitt has moved to Guy Carpenter.
Banffshire broker acquistion
Scottish Broker, Clark Thomson, has completed the acquisition of Banffshire Broker, Cramond Insurance Consultants Ltd
Oval makes landmark acquisition
Broking consolidator Oval has bought Futurity its first stand-alone independent financial advisor.
Chaucer readies for major commercial push with senior hire
Chaucer Syndicates has appointed Stuart Dickinson, to lead the development of the UK commercial product range.
Axis reshuffle brings Reding to COO of insurance arm
Bermudian (re)Insurer Axis has announced the appointment of Dennis Reding, currently Chairman of Axis Insurance, to the new position of Chief Operating Officer of Axis Capital reporting to the CEO and President of Axis Capital, John Charman.
Chilton dismisses Nymex contracts
Benfield chief executive Grahame Chilton has dismissed the forthcoming Nymex-CME ‘Re-Ex Index’ tradable contracts as merely a revamp of a similar scheme his company had in the early nineties. “I think the world’s moved on since then,” he said in a…
Aon political risk map warns of nationalism and arbitrary regulation
Risk complexity, nationalism and arbitrary regulation have emerged as significant threats to multinational corporations’ balance sheets, according to the latest global analysis by Aon political risk experts.
Greenlight latest class of 2005 member to seek IPO
Greenlight Re, the Cayman-domiciled reinsurer has filed for an initial public offering of shares to raise up to $175m.
RAA calls for single US reinsurance regulator
The Reinsurance Association of America (RAA) has called for the United States to have a single reinsurance regulator.