News
London insurance market looks for cost savings
The London insurance market is upbeat and enjoying a strong year according to research by PricewaterhouseCoopers (PwC). However, speaking at the Reinsurance Rendez-Vous in Monte Carlo, Philip Calnan, partner, said that the market conditions were set to…
Converium reacts to S&P rating action
Swiss based reinsurer Converium, which has put its US operation into run off, said it was disappointed with Standard & Poor's decision to lower the company's ratings to BBB from A-. It added that the rating action by S&P, in conjunction with AM Best's…
Towergate puts ex HHH boss in charge of new division
Towergate Underwriting Group has acquired a portfolio of home insurance from Network Data Limited, a UK mortgage broker network.
Unlimited liability will end say Reinsurers
The Reinsurance sector has indicated that it is not going to cover unlimited liability indefinitely. Some French business and the UK third party motor liability market are still written on an unlimited basis but Reinsurers such as Swiss Re and Munich Re…
Just say no call by Coomber
John Coomber, Swiss Re CEO insisted his company would just say no to business at the wrong price and that he hoped the industry as a whole would not repeat the follies of the past "and fly too close to the sun once again."
Independent decision could see brokers collect millions claims IIB
Brokers could collect millions in premiums in the event of an insurance company failiure following a recent legal decision regarding Independent Insurance.
30% of solicitors firms are yet to renew their PI
Around 30% of solicitors practices have not completed a profession indemnity renewal form this year, despite the addition of an extra month to the season, according to Alexander Forbes Professions.
Brit appoints Hull underwriter
Simon Stonehouse has been appointed Hull underwriter of Brit Insurance underwriting on behalf of both Brit Syndicate 2987 and Brit Insurance with effect from 1 September.
2005 set to see reinsurance reductions says Aon
Buyers of reinsurance have cited price as their main concern when renegotiating their reinsurance contracts for the 2005 renewals, according to Aon's latest survey, replacing security, the main concern in 2003.
Reinsurers to remain stable despite pressure, says AM Best
A mix of positive and negative forces continue to influence the financial strength of reinsurers, according to ratings agency AM Best's latest report, Global Reinsurance. However it claims that the net effect will be a continuance of a largely stable…
Deutsche Re - top 25 listing
Reinsurance would like to restate the figures for Deutsche Re, following the publication of the Top 25 reinsurance groups in the August issue.
New appointment at Converium
Converium has announced the appointment of Terry Clarke to the position of managing director.
Chaucer increases syndicate ownership with capacity buy-out
Lloyd's insurer has completed a bilateral agreement with GE Frankona Capital Limited to purchase its entire £51.0m underwriting interest on Syndicate 1084’s 2005 year for 5.1p per £1.
Ecclesiastical commended for high renewals
A.M. Best has affirmed the financial strength rating of A- (Excellent) of Ecclesiastical Insurance Group. The outlook remains stable.
XL Capital appoints new actuarial officer
XL Capital has announced the appointment of Mark W. Callahan as chief actuarial officer of XL's Insurance Operations.
Moody’s withdraws Copenhagen Re rating
Moody's Investors Service has announced that it has withdrawn the Ca (extremely poor) insurance financial strength rating on Copenhagen Re.
Heath Lambert launches specialist transportation division
Heath Lambert Group has launched a specialist transportation division in response to the government’s planned re-franchising of the private rail sector, and to its 10-year transport plan.
Know your agency: A new monthly column from Post Magazine
Understanding the services and specialisms of recruitment consultancies is important. Director Christopher Dickman gives the low down on IPS Group
Managers feel unrewarded
UK managers have complained that their efforts are going unrewarded, and they long for praise. This ...
NU and Marsh offer new degree
This month sees the launch of a new foundation degree in financial services. It involves time being...
New CFO at Montpelier Re
Montpelier Re has announced that Kernan ("Kip") Oberting has been appointed chief financial officer and an executive vice president with effect from 1 October 2004.
Former Alexander Forbes Risk MD takes Close Premium sales role
Tim Wilson, former managing director of Alexander Forbes Risk Services UK Retail Division, is to become the new Sales and Marketing Director at Close Premium Finance.
FSA reports over 13 000 applicants for authorisation
The FSA today reported that by the end of 3 September it had received 13282 registrations from the general insurance sector application packs and 9191 applications for authorisation.
S&P changes outlook on Swiss Re to negative
Standard & Poor's (S&P) has revised its outlook on Zurich-based global reinsurer Swiss Re and related entities of the Swiss Re group to negative from stable.