News
DIMA welcomes reinsurance directive
The Dublin International Insurance and Management Association (DIMA) has welcomed the vote in the European Parliament to approve the proposed Reinsurance Directive.
Prudential Financial subpoenaed
US insurer Prudential Financial has announced that it has been subpoenaed by Connecticut attorney general Richard Blumenthal over reinsurance transactions.
Axa swoops for NIG senior figure
Axa has appointed Carol Anne Stewart as senior technical surveyor trainer with immediate effect.
Chaucer confirms takeover approach
Lloyd's insurer Chaucer this morning confirmed it has received a takeover offer for the company, in response to speculation about sharp rises in its share price.
St Paul Travelers signs up with Kinnect
Electronic platform Kinnect has announced that St Paul Travelers is backing the enterprise.
Reinsurance Directive gets yes vote
The delayed Reinsurance Directive has finally been approved by the European Parliament paving the way for a level regulaory playing field for companies operating across the continent.
Equitas releases financial results
Equitas, which was set up to reinsure and run off the 1992 and prior years’ non-life liabilities of Lloyd’s of London syndicates, has announced its financial results for the year ended 31 March 2005.
Benfield expands broking capabilities in China
Benfield has reaffirmed its commitment to the Chinese insurance market by expanding its broking capabilities in China. Benfield has been transacting business in China since the early 1980’s and, for the first time, is holding its Board meeting in…
Ex-Gen Re executive to plead guilty
A former senior executive of reinsurer General Re, a unit of Berkshire Hathaway, has agreed to plead guilty in a probe of insurance giant American International Group (AIG).
Names finally win chance for LLP status
The Treasury has now confirmed that there is no reason to prevent the introduction of Limited Liability Partnerships at Lloyd’s. This follows an earlier in principle confirmation from the Financial Services Authority. The timetable for their introduction…
Layton Blackham weighs in for Anchor (UK)
Layton Blackham has acquired the share capital of Anchor (UK), a broker and IFA which operates from four UK offices centered on Milton Keynes.
EU Reinsurance vote gets Tuesday slot
The EU Re-insurance Directive is now scheduled for debate this evening in Strasbourg, with Peter Skinner MEP leading the debate. The vote should take place tomorrow (Tuesday).
New Fitch report looks at UK non-life market
UK non-life insurers have recently enjoyed good operating conditions, certainly an improvement on the underwriting climate of the late-1990s, according to a new report from ratings agency Fitch.
Profits at DAS despite market wobbles
Legal expenses insurer DAS has recorded increased pre-tax profits, but bemoaned the troubles in the after-the-event insurance market.
Fast growing broker sets up warchest to target top 50
Broker Moorhouse Group has launched a £5m fund to buy brokers and books of SME business in order to enter the UK top 50 within three years.
AIG rating lowered to AA at S&P
Standard & Poor's Ratings Services has lowered its long-term counterparty credit and senior debt ratings on American International Group to 'AA' from 'AA+' and removed it from CreditWatch with negative implications.
Insurers sue over WTC shortfall claim
A group of 10 (re)insurers that includes members of Lloyd’s of London is suing the Port Authority of New York and New Jersey over a claim by the Authority that it is separately insured for a $2.1bn shortfall in Silverstein property insurance.
Garamendi comments on California compensation reforms
California insurance commissioner John Garamendi has called for an 18% decrease in workers’ compensation pure premium rate in the state.
Alea hopes for smooth run in 2005
London listed reinsurer Alea said it had not experienced any unusual reserve developments in the first five months of the year, in a trading statement following its AGM yesterday.
Sainsbury's denies health cover failure
PMI: Retailer closes door to new business after only 12 months in the sector
London market broker announces sale
THB has today announced that it has completed the sale of its Glasgow based broking division, Marshall Ewart & Graham, to JW Group. It has also reached a separate agreement with another company for the purchase of its Leeds based broking division, THB…
Swiss Re unveils management structure changes
Swiss Re has announced that it is aligning its management structure to its strategic objectives. Focusing on profitable growth and the efficient use of capital, Swiss Re said that it will structure itself into three business functions to be named Client…
AIG Europe calls for pension scrutiny
AIG Europe (UK) is urging HR directors and pension trustees to examine their pension scheme’s exposure to death-in-service benefits. This is necessitated by the increasing number of life companies who are seeking to cap their total exposure in the event…
Biba goes to Sussex by the sea
The British Insurance Brokers’ Association has revealed details of its 2006 annual Biba Conference and Exhibition. The conference will take place at the Hilton Brighton Metropole Hotel between Wednesday 26 and Friday 28 April 2006.