News
Lambourne launches Lloyd's broker run-off service
Lambourn Insurance Services has launched a new broker run-off and replacement service, following its successful application to Lloyd’s for approval to administer run-off business. The service, facilitated by Broker Number LAM 1122, will be officially…
Burrows quits as Zurich Commercial UK boss
Zurich Commercial UK managing director Peter Burrows has handed in his resignation.
GAB Robins in new high net worth partnerships
GAB Robins and Agrical have expanded their strategic alliance for professional services in the high net worth arena.
California AG announces deal over Lloyd’s dispute
Attorney General Bill Lockyer has announced that he has reached several landmark agreements which require Lloyd's of London and 15 other defendant insurers to pay the State of California approximately $93m to settle insurance claims for cleanup damages…
Lloyd's Tsunami losses £100m
Lloyd's has announced the market's net loss resulting from the Asian Tsunami at £100m.
Moody’s affirms St Paul Travelers debt ratings
Moody's has announced that it has affirmed the long-term debt ratings of The St Paul Travelers Companies and also affirmed the Aa3 insurance financial strength ratings (IFSR) of the members of the legacy Travelers intercompany pool.
Ace gets Vietnam green light
Ace has announced that it has been told by Vietnam's Ministry of Finance that its application to establish a wholly-owned life insurance company in Vietnam has been approved and expects to have a license by mid-year. Ace will immediately proceed toward…
Jelf group acquires Arnold Wills
Jelf Group has recruited independent financial advisor, Arnold Wills, together with his team in addition to acquiring his existing business book.
Motorists oblivious to end of 'grace period', says Biba
Millions of UK motorists are driving uninsured as they continue to believe that they have a 14 day ‘grace period’ to renew their motor insurance, the British Insurance Brokers’ Association (Biba) has warned.
Biba backs FSA over inducement guidance
The British Insurance Brokers’ Association has congratulated the Financial Services Authority after it issued a guidance paper clarifying their approach to conflict management, and in particular the unfair inducements rule.
FSA statement on inducements in full
FSA statement in full below
Tiner: FSA hand book may be updated to cover inducement advice
The Financial Services Authority chief executive John Tiner today said the regulator believes that its rule book does not yet need updating with regard to rules on inducements and managing conflicts of interest which apply to insurers and intermediaries.
Willis in Scottish expansion
The Willis Network has signed up Ian MacDonald Insurance Services of Inverness.
Aon releases latest political risk map
Companies need to take a look at political as well as economic risks when they look at lucrative investment opportunities abroad, according to broker Aon.
Coversure wins compliance awards
Coversure Insurance Services has won the “Most Cost Effective Compliance Technology Provider” category at the inaugural Complinet Compliance Industry awards.
Moody’s reviewing RGA rating
Moody's Investors Service has placed Reinsurance Group of America’s (RGA) credit ratings (senior debt of Baa1), and its subsidiary, RGA Reinsurance Company's A1 insurance financial strength rating, on review with direction uncertain following MetLife's…
Everest Re reports lower 2004 Q4 earnings
Everest Re Group has reported fourth quarter 2004 after-tax operating income, which excludes realized capital gains and losses, of $94.7m, a 20.2% decrease compared to $118.6m in the fourth quarter of 2003.
NFU updates legacy IT systems
IT supplier Harlosh, has secured a contract with NFU Mutual. Harlosh will provide NFU Mutual with its InsuranceFaces solution, a technology platform which will consolidate NFU Mutual’s existing legacy systems into a single, flexible application across…
IPC Re warns on catastrophe losses impact
IPC Holdings has issued a warning on its fourth quarter 2004 results because of catastrophe losses, arising from the Florida hurricanes and Pacific typhoons. It has revised the aggregate net impact to be approximately $60 million, after taking into…
Metlife looks to buy Travelers Insurance and sell RGA
Citigroup has announced that it has signed a definitive agreement to sell Travelers Insurance Company and Travelers Life and Annuity Company, among otherlife insurance entities, to MetLife for $11.5 billion. Citigroup says the sale is the result of a…
Zurich London renamed Zurich Global Corporate UK
Zurich London will be renamed Zurich Global Corporate UK with effect from January 31 2005 according to Zurich Financial Services Group.
Insurers and the insured in bad shape over obesity
The problem of obesity continues to grow in the western world, especially in the US, and the costs are starting to mount
US Senate may move on asbestos bill
The new head of the Senate Judiciary Committee, Senator Arlen Specter, has announced that he intends...
Aon launches Latin American subsidiary
Aon Corporation has announced the formation of Aon Affinity Latin America. The organisation will be...