News
Airmic given FSA exemption
The Financial Services Authority has bowed to demands from risk managers who want to escape regulation to sell general insurance.
FSA appoints ex ombudsman chief as complaints commissioner
Sir Anthony Holland, chairman of the Northern Ireland Parades Commission and a former principal ombudsman for the Personal Investment Authority, has been appointed to be the independent complaints commissioner for the Financial Services Authority.
Recruiting firm merges London offices
Insurance recruitment agency, Darwin Rhodes, has opened a new headquarters in the City of London.
Creditors to get 90p in pound for Anglo-American run-off
One of the highest scheme payment percentages for any insolvent London Market insurance company has been announced by the joint scheme administrators of Anglo American Insurance Company, Tony McMahon and John Wardrop, partners in KPMG Insurance Solutions.
Audit regulator appoints new directors
Patricia Hewitt, Secretary of State for Trade & Industry has confirmed the appointment of Paul Druckman and John Sunderland as directors of the Financial Reporting Council (FRC).
FSA offers brokers hope with regulatory concession
The Financial Services Authority today reported that by the end of 13 July (GI Day minus six months), it had received 12710 registrations from the general insurance sector to obtain an application pack and 8624 applications for authorisation.
Rims benchmark survey shows premium costs decline
Many commercial insurance buyers renewed their policies at the same or lower premiums last quarter, according to a survey of corporate risk managers by the Risk and Insurance Management Society (Rims).
Broker Network member leaves for Folgate
The Folgate Partnership has acquired The F G Watts Partnership based in Northampton. The business is The Folgate Partnership’s thirty-fifth acquisition bringing its total premium controlled to £490m.
RSA raises more money with disposal
Royal & Sun Alliance has agreed to sell the business of its Pakistan operation to International General Insurance Company of Pakistan for £700 000 in cash.
Know your rights: This month - Part-time Workers
Part-time workers in the UK gained new legal protection on 1 July 2000 when the Part-time Workers (Prevention of Less Favourable Treatment) Regulations came into force. Saba Mozakka elaborates
General insurers enjoy employment growth
The general insurance sector has been highlighted as one of the key areas of employment growth in th...
First Assist sets out absence plan
First Assist has launched a new offering aimed at cutting sickness-related staff absence, which it c...
Moody’s upgrades Odyssey Re ratings
Moody's Investors Service has upgraded the insurance financial strength ratings of Odyssey Re Holdings Corp's primary re/insurance subsidiaries, Odyssey America Reinsurance Corporation and Clearwater Insurance Company (collectively known as "Odyssey Re")…
AM Best downgrades Inter-Hannover
AM Best has downgraded the financial strength rating of International Insurance Company of Hannover (Inter-Hannover), a UK-domiciled subsidiary of Hannover Rueckversicherung (Hannover Re) from A (Excellent) to A- (Excellent). The rating outlook is stable.
Fusion creates key senior positions
Three new senior positions have been created at Fusion Insurance to provide additional broker support.
Omni Whittingham wins syndicate 2002 deal
The responsibility for running-off the Lloyd’s of London syndicate 2002 has been transferred to run-off specialists Omni Whittington Capital Management from original managing agency, Zenith Syndicate Management.
THB in soft market warning as it reports unchanged annual profit
Listed broker THB today reported a pre tax profit of £3.7m for the year ended 30 April 2004 on a turnover of £31.5m (an increase of 38%).
Aegis seeks leading position in energy market with new underwriters
Aegis Energy Syndicate 1225 at Lloyd's has announced that Nik Rnjak and Chris Allison will be joining the underwriting team.
Howden eyes new markets
Lloyd's broker Howden looks set to continue its international expansion, with France, Germany and th...
Steve Bartlett appointed as managing director
Steve Bartlett has been appointed as managing director of the wholesale division at Heath Lambert In...
Achievements recognised
The 2004 British Insurance Awards marked a decade of achievement last week, as 2000 of the insurance...
Penny Black's insurance week
Penny was very interested to read that the new head of general insurance at the Association of Briti...
The Arson Prevention Bureau to unveil campaign
The Arson Prevention Bureau is set to unveil a campaign today to reduce school arson fires. It will ...
Merger to boost CII membership
The Chartered Insurance Institute's membership is set to swell to over 90,000 this week, when one of...