News
RSA loses second senior figure
Following the resignation of Bridget McIntyre, RSA has lost its second senior member in as many days with the defection of Nigel Salisbury to Marsh.
Insured losses from Gustav estimated at $3-7bn - Eqecat
Hurricane Gustav, which ravaged the state of Louisiana but managed to miss New Orleans, may still have caused insured losses for $3-7bn, according to modelling firm Eqecat.
Marsh not interested in counterbidding for Benfield
Marsh & McLennan, the US financial services company that owns brokers Marsh and reinsurance Guy Carpenter, has said it has "no interest" in pursuing a counterbid for UK reinsurance broker Benfield.
GAB Robins launches UK repair network
GAB Robins has launched BRICS - a new option for property claims fulfillment.
Wind shear forces Hanna to downgrade - AIR
According to catastrophe risk modeling firm AIR Worldwide, storm development in the tropical Atlantic was even more active on Tuesday than it was on Monday.
Odyssey Re's Hudson unit to form crop insurance unit
Hudson, the US insurance division of (re)insurer Odyssey Re said that it has bought the assets pertaining to the crop insurance business of US managing agent CropUSA.
InsureandGo appoints new managing director
InsureandGo has appointed a new managing director as it seeks to grow in its existing and new markets over the next 12 months.
Endurance appoints new head of reinsurance
Endurance Specialty Holdings, a Bermuda-based (re)insurer, said it has appointed Lauren Kent as senior underwriting manager and head of reinsurance for Endurance Worldwide Insurance Limited in London.
FSA bans broker bosses
The Financial Services Authority has banned three directors of a London-based insurance business, BPS Insure Limited, for failing to inform the FSA that BPS had a deficit of approximately £3m in its client account and had misused client money.
Oxygen to sell agency operation to Gallagher UK
Oxygen Holdings is expected to make an imminent sale of its agency operations to Gallagher UK.
Bridget McIntyre leaves RSA
Bridget McIntyre is stepping down as UK chief executive officer of RSA.
European Parliament against compulsory legal protection insurance
With an overwhelming majority, the European Parliament today adopted a resolution whereby consumers should not be obliged to subscribe to compulsory motor legal expenses insurance, but that this option should remain voluntary.
RSA share price climb eases off
RSA share price had dropped slightly after hectic morning trading pushed it to a 12 month high earlier.
Chaucer promotes White to lead energy division
Chaucer Syndicates 1084 said it has promoted Chris White as head of its new energy division.
Kwik Fit boss Oliver to take over as CEO of commercial broker
Martin Oliver, currently managing director of Kwik-Fit Financial Services is to joint Barbon Insurance Group as chief executive - subject to Financial Services Authority approval.
Cash in transit premiums could plummet by 20% says Aon
Global security firms could benefit from rate reductions of up to 20% for their cash in transit cover due to new players in the niche insurance market, according to Aon’s fine art and specie team.
Outlook for global reinsurance sector remains stable - Fitch
Fitch Ratings, the ratings agency, has said that its outlook on the global reinsurance sector remains stable.
BGL appoints vehicle repair director
ACM, the claims management arm of the BGL Group, has appointed Mike Edgeley as associate director of its vehicle repair services team.
Democratic National Committee endorses creation of national Cat fund
(BESTWIRE) The Democratic National Committee wrapped up its presidential nominating convention in Denver on Aug. 28, with a platform that includes a plank endorsing the creation of a national catastrophe fund.
RSA continues to climb amid bid talk
RSA share price continues to rise as speculation of bid refuses to die down.
Survey shows Irish non life premium up 16.4%
The Insurance Statistical Review, previously known as the “Blue Book”, shows that gross written premiums for non-life insurance business in Ireland increased by 16.4% in 2007, to €7.56bn.
Gustav damage could top $10bn claim experts
Insured losses from Hurricane Gustav could range between $3.8 bn and $10bn, according to initial estimates based on the latest information from catastrophe risk experts, Risk Management Solutions and AIR Worldwide.
Gustav downgraded again
Gustav is now quickly losing strength and has been downgraded to a tropical storm with winds of 60mph (95km/h), according to the Florida-based National Hurricane Center (NHC).
British Insurance launches new MPPI product
British Insurance has launched a new low-cost Mortgage Payment Protection Insurance product offering premiums for a 25 year old at £1.60.