News
QBE restructure sees managers leave
QBE Europe have today announced a shake up of its non Lloyd’s business resulting in a number of senior departures.
Hiscox appoints former Co-op chief to board
Hiscox has announced that Sir Mervyn Pedelty and Mr Adrian Auer will join the board as non-executive directors on 1st July 2005.
J&M Acquires Protector to Consolidate Black Cab Market
Epping-based J&M Insurance Services (UK), the private and public hire broker, has acquired black cab specialists Protector Policies, as part of its growth strategy.
S&P raises GKA rating
Standard & Poor's Ratings Services (S&P) has raised its long-term counterparty credit and insurer financial strength ratings on Germany-based property/casualty insurer Gerling-Konzern Allgemeine Versicherungs-AG (GKA) to 'A-' from 'BBB+'. At the same…
Thomas, Carroll Group posts 33-year high results
Thomas, Carroll Group, the Welsh broking and financial services group, has posted its best financial results since its foundation in 1972 and points to local claims handling and rejection of the call-centre culture as its reasons for success.
IUA looks to boost London reform programme
International Underwriting Association today announced its member companies are submitting market placing slips to a voluntary audit in a bid to boost London’s business process reform programme.
Ace subpoenaed in finite risk probe
Ace has reported that it has received a subpoena from the United States Attorney for the Southern District of New York as part of an investigation into finite risk insurance products.
Lloyd's insurer in failed bid changes adviser
The board of Omega Underwriting has announced the appointment of Cenkos Securities as its sole nominated adviser and sole broker with immediate effect.
Hardy rejects two approaches, but remains in talks with potential suitor
Lloyd’s insurer Hardy this morning confirmed it had rejected a approach by Omega Underwriting.In a statement it added: “Further to the recent press speculation, the board of directors of Hardy confirms that it did receive an approach from Omega…
Dale given MD role at L&G general insurance
Jane Dale has been appointed managing director of Legal & General’s general insurance operations from 1 July 2005.
Pacific typhoon activity forecast above average, claims TSR
Typhoon activity in the northwest Pacific will be above average during the 2005 storm season, according to the latest forecast from Tropical Storm Risk (TSR).
RSA shares fall after Corvus backs down from bid
RSA shares this morning dropped to 81.5 pence on the news that Corvus Capital would not follow up its interest in the company with a firm bid.
Corvus drops RSA interest after resistance from insurer's management
Corvus Capital, the takeover vehicle of financier Andrew Regan, this morning confimed it has abandoned tentative plans to bid for Royal & Sun Alliance Insurance Group, as predicted by Post Magazine (PM, 16 June, p2).
Finite reinsurance investigation subpoenas continue
Two Bermuda-based reinsurers have received subpoenas from the US attorney for the Southern District of New York relating to finite reinsurance.
Watson Wyatt in French insurance push
Watson Wyatt and Actuaris, the Paris-based actuarial consulting and insurance and financial software firm, have agreed a strategic alliance to grow their share of the French insurance market.
Willis publishes energy market review
Willis released today its 2005 Energy Market Review. The report reviews the dynamics of this market, which it said has produced some of the best underwriting results in the insurance industry over the last three years.
Pinchin quits Lloyd's for Hiscox
Jeremy Pinchin, Lloyd's head of claims, reinsurance and open years management has quit to take up a new challenge as group head of claims at Hiscox.
EC begins new motor insurance consultation
The European Commission has launched a public online consultation on two issues related to motor insurance - public awareness of national compensation bodies and their effectiveness in settling claims, and problems getting insurance coverage for trailers.
Oval snaps up Lochain Patrick
Oval, the UK insurance broker backed by Caledonia Investments, has agreed to acquire, subject to Financial Services Authority approval, the independently owned Lloyd’s broker Lochain Patrick.
Belgian steps up to Ferma role
Marie-Gemma Dequae, president of the Belgian risk management association BELRIM from June 1994 until June 2005, has been named as the next president of the Federation of European Risk Management Associations.She will begin a two year term at the head of…
Davis Underwriting expands in Newmarket
Freight and transport specialist and underwriting agent Davis Underwriting plans to move into larger premises on its existing Newmarket site.
Marsh senior VP joins Brit
Brit Insurance today announced that Mike Smith has joined the group to head up its expanding technical wordings team. He will cover all direct classes of business.
2005 hurricane loss potential huge, claims EQECAT
Risk modelling company EQECAT has said that a review of hurricane trends showed there is more than a one in three chance of large hurricane catastrophe-losses in the US in 2005, based upon current forecasts by the National Hurricane Center (NHC) which…
Cox buyer extends offer period
The board of the Cox acquistion vehicle, Fieldstreet today said that it was extending the time for shareholders to accept its offer for the company by a fortnight.