News
They think it's all over
Broker MCE Insurance triumphed for the second year running in the annual Post Magazine charity five-...
Highway eyes affinity deals after acquisition
Highway Retail, the insurer's broking arm, has said it will take a cautious look into the affinity ...
Thatcham attacks bumpers
New research by motor insurers research centre Thatcham has found that most car bumpers are poorly ...
The Towergate Partnership announces acquisition
The Towergate Partnership has announced the acquisition of Arbuthnot Insurance Brokers from Arbuthno...
Industry renews call for flood defence funding
The government will come under renewed pressure from insurers next week to upgrade flood defences,...
Broker Abacans recruits in company expansion move
Abacans Limited, part of commercial broking group Vega Insurance Services, has announced the promotion of David Martland to director, together with a number of new appointments.
AM Best condemns Rosemont Re to near certain run-off
AM Best has downgraded the financial strength rating of Rosemont Re three notches to B (fair) from A- (excellent). Both ratings have been removed from under review and assigned a negative outlook.
Catlin estimates Rita Losses
Catlin Group has completed its initial review of loss estimates from Hurricane Rita and has reviewed its loss estimates from Hurricane Katrina.
Biba slams FSA proposals
The British Insurance Brokers’ Association has today announced that is has serious concerns regarding a number of the proposals contained in the FSA’s recently issued Quarterly Consultation Paper.
GAB Robins CEO quits
GAB Robins has lost its top two UK staff members. Chief executive John Castagno has quit, while managing director Derek Coles has been transferred to the company’s North America division.
FSA wants improvement in general insurance documents
A Financial Services Authority (FSA) survey has found many insurance companies are not yet fully complying with the regulator's rules on the provision of disclosure documents to customers. The work involved reviewing the content and format of more than…
ABI warns against claims farmers
The Association of British Insurers has urged claimants not to approach claims farmers to seek compensation for mis-sold mortgage endowments.
S&P affirms AXA Re and subsidiaries at AA-, outlook positive
Standard & Poor's Ratings Services has affirmed its 'AA-' insurer financial strength ratings on France-based reinsurer AXA Re and its subsidiaries Compagnie Générale de Réassurance de Monte-Carlo, AXA Re Asia-Pacific Pte Ltd., and AXA Corporate Solutions…
Endurance finishes $600m capital-raising
Endurance Specialty Holdings has announced that it has completed the sale of its $200m 6.15% Senior Notes due 2015, completing the final tranche of its $600m post-Katrina debt and equity funding.
Moody’s eyes Ren Re for possible downgrade
Moody's Investors Service has announced that it is continuing its review of Renaissance Reinsurance (A1 insurance financial strength) and RenaissanceRe Holdings (RNR; senior unsecured at A3) and its affiliates for possible downgrade.
Transatlantic takes $33m for Rita and ups Katrina loss
Transatlantic Holdings has said that its preliminary estimate of net after-tax losses from Hurricane Rita to be $33m after tax basis in 2005. In addition the firm has updated its third quarter net after-tax catastrophe losses at $224m which it says…
Greenberg firm strikes back against AIG
Starr International, a company led by former America International Group (AIG) Chief Executive Officer Maurice ``Hank'' Greenberg, is counter-suing the insurer in a dispute over who controls $20bn of AIG shares.
Aviva announces huge income and profit targets from RAC
Norwich Union parent Aviva has promised improved targets for its worldwide general insurance business, claiming profits from the recently acquired RAC will reach £250m by 2008 and for the group to meet or beat a Combined Operating Ratio (COR) of 98%.
AM Best confident US insurers can absorb catastrophe losses
The U.S. general insurance industry recorded an underwriting profit of $13.2bn (£7.5bn) during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, said A.M. Best.
Crawford to launch rehab provider
Loss adjuster Crawford & Company UK is launching new range of services to manage sickness and injury absence from the workplace.
Broker launches ID theft cover
Heath Lambert has joined forces with credit information provider, Equifax, to create an ID theft and fraud protection insurance policy. This new product will include membership to Equifax Credit Watch Gold, an automated service to alert customers to any…
Lloyd's TSB extends RSA supplier collaboration
Rainbow International has been appointed by Lloyds TSB Insurance as its sole provider of disaster restoration services for domestic insurance claims in the UK.
Apil carries small claims fight to DCA
Research which found the majority of injury victims would not seek justice if the small claims court limit is raised was highlighted again last week, when The Association of Personal Injury Lawyers gave evidence to the Constitutional Affairs Select…
Brit appoints Watson in D&O push
Brit Insurance Holdings has appointed Craig Watson as D&O Underwriter, based in Brit’s Glasgow office.