News
Pick of the week
Senior reporter Louise Meeson looks at the major news stories in the week's Post: Barbon Insurance Group aquires a managing general agent in its first major deal for two years; the managing director of M4 Underwriting has left the business; Towergate…
AM Best reacts to Lloyd's repurchasing news
A.M. Best Co. has said that its ratings of Lloyd's of London, Lloyd's Reinsurance Company (China, the Society of Lloyd's (and of debt issued by the Society remain unchanged following Lloyd's announcement that the Society has offered to repurchase up to …
ABI: budget may help rebuild UK's battered reputation in wake of insurer redomiciling
The Association of British Insurers has described today's budget as "mixed bag" for its members.
Darling ups top UK tax rate to 50%
UK Chancellor of the Exchequer Alistair Darling has upped the UK's top tax rate to 50% in his Budget speech on Wednesday.
Biba: insurers should extend cancellation provision
The British Insurance Brokers' Association has backed the Government's plan to introduce a new trade credit scheme.
Government outlines plans for trade credit insurance scheme
Business Secretary Lord Mandelson today launched a scheme providing up to £5bn of additional trade credit insurance to businesses who have suffered reductions in their level of cover. The Government said it will be delivered as part of the Working…
Darling proposes financial services shake up with Treasury paper
The Government has promised "wide ranging reform" of the financial services sector in a soon to be published paper.
Darling claims Budget proposal will wipe out debt of 100 000 businesses
The Government today unveiled a scheme which it claims will wipe away the debt of 100 000 businesses wipe out their debts. It also proposes a top up trade credit scheme.
Atradius welcomes government trade credit support
Insurance firm Atradius has welcomed the government's decision to offer additional support for companies with a top-up trade credit scheme.
Aon: Budget green energy plan will require greater insurance capacity
Aon has commented that the Government's plan to assist in increasing the viability and profitability of green energy will only be flet by the isnurance industry in three to five years time.
PWC welcomes Solvency II milestone
Pricewaterhouse Coopers has welcomed the European Parliament's adoption of the Solvency II directive .
Solvency 2 given Euro Parliament green light
The Solvency II framework has been approved by the European Parliament this morning.
Munich Re CEO: Q1 results will be 'satisfactory'
The first quarter of the year will be a 'satisfactory' one for Munich Re, said the group's chief executive in a statement at the company's Annual General Meetiing in Munich today.
Harleysville Q1 profit drops
Harleysville, the US insurer, said that first quarter profit fell to $17.3m from $24.1m in the same period in 2008.
Axa comes bottom of broker poll
Axa has come bottom in an Institute of Insurance Brokers service level poll – falling marginally below the "generally acceptable" range of scores.
Aon Switzerland appoints new CEO
Aon Benfield has appointed Markus Hauswirth as chief executive of Swiss subsidiary after thed death of its former CEO Fredi Hänggi, who passed away in February after a long illness.
Underwriters must maintain underwriting discipline - Levene
(BESTWIRE) The biggest challenge facing the insurance industry today is to underwrite for a profit, and not take on any business simply to collect the premium, said Lloyds Chairman Peter Levene.
Composite launch recession support package
Composite Legal Expenses has launched a new dedicated debt, cash-flow and business support package as an additional benefit to its commercial legal expenses products.
Catlin gets Lloyd's go ahead for new syndicate
Catlin has said it will commence writing selected classes of short-term life insurance and reinsurance, effective 1 May 2009.
AM Best comments on AIG restructure plan
AM Best has commented that the ratings and outlook of the property/casualty subsidiaries of AIG remain unchanged following the company's announcement of the acceleration of its restructuring and re-branding of its global property/casualty operations, AIU…
AIG to accelerate seperation of international general insurance business
AIG is to accelerate steps to position its general insurance business AIU Holdings as an independent entity by transferring the company to a special purpose vehicle in preparation for the potential sale of a minority stake in the business, which…
Lloyd's to buy back up to £100m in debt
Lloyd's has announced that it is offering to buy back some of its subordinated debt securities.
Government aims to cut road deaths by a third
Proposals that aim to make Britain's road the safest in the world were set out by Road Safety Minister Jim Fitzpatrick today.
Allied World takes three more from AIG
Allied World, the Bermudian (re)insurer, has announced that three former AIG executives have joined the company.