News
Converium package passed at EGM
Converium shareholders have formally approved the management’s package of measures designed to restore the company’s financial strength.
Atrium doubles profits in first half
Lloyd's insurer Atrium Underwriting has announced profit before tax increases up strongly to £16.1m (30 June 2003: £8.2m)
Aascent Finance in Northern Ireland push
Aascent Finance says it is has opened the first independent premium finance office in Belfast to service Northern Ireland brokers, as it aims to capture 30% of the market.
Website launch for insurance archive
The Actuarial Profession today announced that over 400 papers presented at its General Insurance Conventions from 1974 are now accessible on the organisation’s website.
NU to join Rural portfolio
From 1 October 2004 Norwich Union will be joining the portfolio of established insurers supporting Rural Insurance, a leading agricultural underwriting agency, part of the Primary Group.
Jeanne less disruptive than Frances says Cunningham Lindsey
Hurricane Jeanne was less disruptive in the Bahamas than Frances according to loss adjuster Cunningham Lindsey.
Fitch looks at total US hurricane losses
Fitch Ratings has claimed that with estimates for insured losses from Hurricane Jeanne ranging between $4 bn and $14bn, it is now possible that combined US insured losses from Charley, Frances, Ivan and Jeanne could equal or exceed the combined 1992…
Cox broking hires Heath Lambert three
Cox Insurance has hired three key individuals in its Broking Division – Paul Firkins will become business development executive; Janey Ware will become relationship manager and Jasper Garnham joins as executive consultant.
Hiscox in 05 capacity u-turn
Hiscox is raising capacity of its Lloyd's syndicate back up to £775m after initially deciding on a 14% cut, citing foreign exchange pressures and an improved rating environment.
S&P raises Converium outlook
Standard & Poor's (S&P) has revised to positive from developing its CreditWatch implications on its 'BBB' long-term counterparty credit and insurer financial strength ratings on Switzerland-based reinsurer Converium.
Jersey insurance market remains static
The Jersey Financial Services Commission today announced that no new insurance company companies were set up during the quarter ended 30 June 2004, nor were there any cancellations. The total number of insurance licences at 30 June 2004 remained at 170.
RMS estimates Jeanne damage
Risk Management Solutions (RMS) has estimated that insured losses from Hurricane Jeanne would be between $4 to $8bn, based on an assessment of the hurricane’s characteristics at the time of landfall and its projected path.
Lloyd's upgraded
Rating agency Fitch has today upgraded the Insurer Financial Strength rating of Lloyd's of London to 'A' from 'A-' (A minus). Following the upgrade the outlook is Stable.
Swiss Re announces storm losses
Swiss Re has announced that, based on current estimates, it expects its claims related to Hurricane Ivan and Typhoon Songda to be approximately $300m before tax.
Insurers face extra costs after NHS recovery scheme plan announced
Health Minister Rosie Winterton today published a consultation on the draft Regulations for the new, expanded NHS Injury Costs Recovery scheme. The consultation period will run from 24 September to 17 December 2004.
Endurance Specialty subsidiary to write agribusiness
Endurance Specialty Holdings has announced that its US subsidiary has formed a new underwriting unit specializing in agribusiness reinsurance.
ABI attacks government's NHS proposal
Businesses face higher insurance costs because of government plans for the National Health Service to recover costs of treating workplace accidents victims, the Association of British Insurers said today.
BMA grants new licences
The Bahrain Monetary Agency (BMA) has granted a licence to Aon Corporation to establish Aon Re Middle East, an insurance brokerage firm in Bahrain.
Allianz Cornhill to raise £100k for charity
Allianz Cornhill Commercial will be taking part in the Bush2 Dealer 6000 in support of BEN.
CIS launches education pack
Co-Operative Insurance Society has developed a free 'Enterprise Education' pack for Key Stage 4 pupi...
CII pleased by interest in young achiever award
The judging of young achievers' gong the Sheikh Abdullah Foundation Award was completed last week an...
Time to test yourself: A selection of questions from various past-CII qualification papers
Whether studying for Chartered Insurance Institute exams or want to test yourself, see how you do
More women managers, but industry rank is static
Women managers working in the insurance sector have remained static in the overall female earnings l...
Global Re reports substantial balance sheet loss
Global Re has announced that the 2003 financial year was another difficult year for the company. After having discontinued the underwriting of new property and casualty business on 26 October 2002, Global Re closed its first full financial year as…