News
New SVB insurer plan set to halt UK exodus
SVB has stressed that it has no plans to replicate the branch network structure of former subsidiary...
Discrimination claims to rise
Discrimination claims against the top 50 UK law firms are expected to surge over the next five years...
First hearing of action against oil depot on 17 March
The High Court will receive the first hearing of the multi-million-pound class action against Hertfo...
MMC: stabilised in 2005
Marsh and McLennan president and chief executive Michael Cherkasky this week claimed that the compan...
Swiss Re blames decline on reductions in liability business
Swiss Re has blamed a 13% decline in US premiums on reductions in liability business, while premium ...
Broker ahead of £90m target
Intermediary consolidator Brokerbility claims it is set to achieve its £90m gross written premium ta...
Rees Astley joins the Willis Commercial Network
Rees Astley has joined the Willis Commercial Network. The Aberystwyth-based broker also has offices ...
FMW eyes first acquisitions
FMW Risk Services will be looking to make its first acquisitions by the end of 2006, the Essex-based...
Broking growth stalls bar top 10, claims report
The UK's leading 10 brokers and the broking networks are the only firms in the sector showing tangib...
Alea group expected to meet policyholder obligations
Standard and Poor's expects the Alea group to meet its policyholder obligations in full, the ratings...
Penny Black's insurance week
Penny was delighted to hear that so many senior insurance men were invited to the annual Institute o...
GAB Robins recruits Andy Cathersides
GAB Robins has recruited Andy Cathersides to its newly formed London market business unit. Mr Cather...
Aon announces major outsourcing initiative
Aon is set to dicuss plans to outsource its client operations division with several commercial entities. According to Aon, claims servicing within Aon’s retail insurance divisions will remain unaffected by these proposals. COD employs 600 people and is…
Capita acquires broker's arm
Capita Insurance Services has acquired Aon Claims Management, which is the delegated claims operation of Aon UK, for an undisclosed sum.
Lloyd’s Council appoints new deputy chairman
The Lloyd’s Council has appointed Ewen Gilmour, chief executive of Chaucer syndicates to the position of deputy chairman of Lloyd’s.
New setback for FAIR Act
The Fairness in Asbestos Injury Resolution (FAIR) Act has been hit by a new setback in the US Congress.
Stormy 2006 ahead, claims Hurricane chief
The 2006 Atlantic hurricane season could be worse than the 2005 season, according to Max Mayfield, director of the US-based National Hurricane Center.
Munich Re reports 3% rate increase at 1/1 renewals
Munich Re has reported “highly satisfactory” 1/1 renewals and an overall 3% increase in rates.
Omega's Bermuda operation seeks rating after beginning trading
Omega Underwriting Holdings today announced its newly formed subsidiary in Bermuda, Omega Specialty Insurance Company Limited, has now to trade following authorisation by the Bermuda Monetary Authority as a Class 3 insurer. Omega Specialty is capitalised…
S&P expects Alea to meet policyholder obligations in full
Standard & Poor's has affirmed its 'BBB' long-term counterparty credit and insurer financial strength ratings on all Alea group operating entities: Alea Europe, Alea Bermuda., Alea Global Risk., Alea Jersey, Alea London., Alea North America, and Alea…
Marsh & Company joins forces with Brokerbility
Broker Marsh & Company has joined forces with the newly formed Brokerbility Group, which intends to become one of the top ten independent brokerages in the UK.
Willis signs up Welsh broker
Aberystwyth broker Rees Astley has joined the Willis Commercial Network. .
Arch Re comes through 2005 unscathed, reveals Flatiron details
Bermudian (re)insurer Arch Capital Group has reported net income of $256.5m for the year ended December 31, 2005, compared to $316.9m for the 2004 year. The Company's combined ratio was 95.8% for the 2005 calendar year compared to 92.1% for the 2004 year.
Swiss Re sees 13% overall reduction in US premiums
Swiss Re has blamed a 13% decline in US premiums on reductions in liability business.while premium volume was unchanged for European treaty business.