News
Beale and Company to open in Bristol
Law firm Beale and Company is opening an office in Bristol that will be led by a new partner: profes...
Integrity Claims Management joins with Assert Personal Injury Advisers
Two Yorkshire-based companies providing claims services to the broking sector have merged. Uninsured...
Heath Lambert releases market report
Broker Heath Lambert has released its annual insurance report, “State of the Market 2006: a view of the insurance landscape”. The report provides an overview of the key markets Heath Lambert operates in, analysing trends from the past year and…
Business 'needs to wake up' to flu pandemic
British business is not prepared for the implications of an influenza pandemic, according to speakers at conference hosted by broker Aon. The conference was held to discuss the UK’s state of preparedness for a major pandemic following recent news of bird…
Thatcham's 250th part accredited
The 250th crash repair part has been accredited at Thatcham, the Motor Insurance Repair Research Centre. Thatcham’s Parts Accreditation Scheme was developed following a request from UK insurance companies to provide repairers with an alternative choice…
New scheme for white van drivers
Van drivers will soon benefit from a new advanced driving scheme launched by Transport Secretary Alistair Darling today.
Revios Re has ratings affirmed by AM Best
AM Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Revios Rueckversicherung AG (Revios) (Germany). The outlook for both ratings is stable.
Administrators appointed for Rubicon
Andrew Pepper, Peter Saville and Fraser Gray, partners in Kroll’s Corporate Advisory & Restructuring Group, have been appointed joint administrators to The Rubicon Corporation, the business process outsourcing company for the insurance industry. In…
Primary Group acquire Traveller Protection Services
Primary Group Limited has acquired Travellers Protection Services Ltd (TPS), a Norwich-based Insurance Intermediary specialising in both indirect (‘affinity’) and direct sales of travel and other insurance products. The purchase price is undisclosed.
Lloyd's pulls plug on multi-million pound Kinnect
Lloyd's has decided to withdraw funding for the Kinnect programme following a review. In a statement the Lloyd's Franchise Board said it had decided that the platform was not optimal in ensuring more efficient business processes for the Lloyd's and…
Shakespeare Underwriting calls in administrators
Insurance Age has learnt that Shakespeare Underwriting – with offices in Caerphilly, Romford and Rugby - has called in the administrators. Insurance Age understands that a rescue package is however presently being sought.
Hank Greenberg wins legal skirmish with AIG
Maurice (Hank) Greenberg, the former chairman of American International Group (AIG), who was accused of accounting fraud in 2005, has won the right to see an AIG report used to blame him for the insurer’s $3.9bn restatement last year.
Omega CEO gets 1.5m share incentive
Lloyd’s and Bermuda (re)insurer Omega has granted its CEO Richard Tolliday nil-cost options on 1.5m ordinary shares under a long-term incentive plan.
XL pulls out of Sovereign political risk venture
political risk specialist Sovereign Risk Insurance Ltd , a joint venture between Bermudian (re)insurers ACE and XL has announced that from Februaury 1 the company will become wholly owned by ACE and write business solely for ACE.
Martin appointed COO at AIG
American International Group, (AIG) has named Rodney O. Martin, Jr. chief operating officer of AIG's worldwide life insurance business.
AM Best affirms Glacier Re
AM Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-”of Glacier Reinsurance AG (Glacier Re) (Switzerland). The outlook for both ratings remains stable.
IPCRe unveils $105m Wilma hit
Bermudian catastrophe reinsurer IPCRe has marginally increased its Hurricane Katrina and Rita loss estimates and unveiled a net reserve of $105m for Hurricane Wilma
Government provides £11m anti-arson funding boost
Vulnerable people living in England¡¦s poorest communities stand to benefit most from £11.4 million of Government funding over the next two years for community fire safety.
One in three brokers set to buy in 2006
Consolidation among UK insurance brokers looks set to continue in 2006, but prices could rise sharply as the number of firms seeking to acquire outstrips the number of brokers up for sale by a factor of 10 to one.
Link and Zenith appoint household product manager
Zenith Services UK has announced that Richard Daws has been appointed as its household product manager. In his new role, Mr Daws will be responsible for managing and growing Link and Zenith’s household product range and managing its key household broker…
Lloyd’s announces election results
Five appointments to the Council of Lloyd's have been made following the Council elections which closed on 20 January, 2006.
Brit claims 75% contract certainty achieved
Brit Insurance said today it achieved contract certainty on over 75% of its January 1, 2006 outwards reinsurance placements, so significantly exceeding the current target of 30%. The insurer claimed this was measured in accordance with the Market Reform…
Former Spurs stopper gets maximum payout
Ex-Tottenham Hotspur footballer, Dean Richards, has claimed a record £2 million in compensation for an illness that has ended his career. This is the highest amount ever paid to an individual player in the UK.
Chubb expands high net worth motor book
Chubb Insurance has launched an EDI multi-vehicle prestige car policy for brokers to reduce administration and increase accessibility.