News
GAB Robins sets up response team in Hong Kong
GAB Robins has set up a response team in its Hong Kong office to co-ordinate adjusting expertise and resources throughout Asia in the aftermath of the Indian Ocean earthquake disaster.
Lloyd's expects limited exposure from earthquake disaster
Exposure should be limited to holiday resorts, personal accident, travel insurance and marine risks, according to Lloyd's.
Indian Ocean earthquake's financial losses estimated at £7bn
Financial damage resulting from the Indian Ocean earthquake disaster has been estimated at about £7bn.
Munich Re remains on target despite earthquake losses
The insurance penetration of the Indian Ocean disaster is relatively low, and the insured property losses are likely to be limited due to the sparse concentrations of values, according to Munich Re.
Treasury u-turn on insurance authorisation
Insurance law firm Reynolds Porter Chamberlain has called the Treasury’s decision to grant interim permission to businesses to sell or advise on the sale of insurance products a dramatic policy u-turn.
Board reshuffle at JLT
Jardin Lloyd Thompson had appointed Dominic Burke and Mike Hammond to its board with effect from 1st January 2005.
Aon issues transparency promise
Aon Limited, the UK brokerage arm of Aon Corporation, has said it will take steps to reinforce its commitment to complete transparency in the London insurance marketplace.
NU strikes major affinity deal
Norwich Union has been chosen by Leeds & Holbeck Building Society as its sole provider of general insurance.
Oval continues acquisition spree
Broking consildator Oval has acquired Coventry-based Halkett Associates for a mixture of cash and Oval shares. This is Oval's second major expansion move in a week, following its acquisition of the Beddis Group on the 17 December, and its fourth deal in…
GAB sells Sergon and hints at further changes
GAB Robins today announced that it is to refocus its operations on loss adjusting and claims management markets, both in UK and internationally.
Pinnacle Insurance adopts global branding
Pinnacle Insurance Group will be known as Cardif Pinnacle as from the new year.
SME Insurance acquires Roel Solloway
SME Insurance has acquired Chester-based broker Roel Solloway and Co, in the company’s third acquisition over the last three months.
FarmWeb appoints new agricultural technical director
Agricultural insurance specialist FarmWeb has boosted its technical expertise by appointing George Stonley to the new role of agricultural technical director.
FSCS declares 57 firms in default
The Financial Services Compensation Scheme has declared 57 firms in default and is encouraging consumers to get in touch if they have lost money as a result of dealing with the firms.
Oval Acquires Beddis
Oval - the UK insurance broking group backed by Caledonia Investments - today announced that it has acquired Beddis & Partners, the Birmingham-based commercial insurance brokers and risk management consultants, for a mixture of cash and Oval shares.
Gender Directive passed
The EU has finally passed the Equal Treatment (Gender) Directive, in its heavily amended form. Member States have 3 years to decide how they intend to implement it.
Allianz Corrnhill seals legal protection scheme with Opus
Allianz Cornhill Legal Protection has teamed up with national broker, OPUS, to underwrite commercial legal expenses under their business care scheme from 1 January 2005.
2004 record year for catastrophes, claims Swiss Re
According to preliminary Swiss Re sigma estimates, more than 21 000 people around the world lost their lives as a result of natural and man-made catastrophes in 2004. The catastrophes caused overall economic losses of about $105bn worldwide.
AM Best confirms ratings for Lloyd’s Syndicate 958
AM Best has affirmed the Best’s Syndicate Rating of A (Excellent) and the issuer credit rating of “a+” of Lloyd’s Syndicate 958, which is managed by Omega Underwriting Agents. The outlook for both ratings is stable.
Defendants win victories on success fees
Insurers have won an important battle on success fees in issued cases. Handing down judgment in Atack v Lee and Ellerton v Harris, two RTA appeals heard together, the Court of Appeal led by Lord Justice Brooke also took the opportunity to clarify what…
Terrorism cover in demand, says Aon report
A new study released by Aon has found that 57 percent of companies studied are facing new issues in the risks that they face and have decided to take up some kind of terrorism insurance – an increase over the 24 percent found earlier this year.
Lloyd's chief puts 9% capacity reduction down to market discipline
The Lloyd’s market expects to have the capacity to underwrite £13.7 bn of business in 2005, chief executive officer Nick Prettejohn announced today.
Leeds to become second UK financial powerhouse
The city of Leeds could be the largest financial services centre outside London by 2020, according t...
Allianz training gains recognition
Allianz Cornhill's personal lines division has been awarded the Chartered Insurance Institute's prio...