News
RAC in new commercial vehicle launch
RAC Claims Services has launched a new UK dedicated repairer network specifically for commercial vehicles.
Norwich Union helps buy-to-let landlords
Norwich Union has launched a website to help landlords in the buy-to-let market make the most of their investment.
Equitas reaches new US agreement
EnPro Industries and Lloyd’s reinsurance vehicle Equitas today have reached a “comprehensive agreement” to settle the current and future insurance claims. These relate to EnPro subsidiaries against certain underwriters reinsured by Equitas.
AA warns of price war on motor insurance
Comprehensive car insurance prices have fallen by 2% according to the AA’s British Insurance Premium Index indicating a price war for players trying to gain market share.
S&P lowers Converium rating after profit warning
Standard & Poor's (S&P) has lowered its long-term counterparty credit and insurer financial strength ratings on Switzerland-based reinsurer Converium and its main operating subsidiaries from 'A' (strong) to 'A-' (strong).
Risk system could generate millions in housing leads for RSA
Customer data specialist GB Group has developed a geographical risk analysis system for Royal & SunAlliance that it said could generate the company millions of pounds of additional business.
FAI officers to stand trial over reinsurance arrangements
Three former senior executives of Australian company FAI General Insurance Group are to stand trial for their role in a series of financial reinsurance arrangements following a court hearing yesterday.
XL announces new appointments
XL Capital (XL) has announced that Michael Rego and Frederick Hnat have been appointed to new positions within its Financial Products and Services Operations.
Markel targets graduates for training scheme
Markel International has announced the launch of its graduate trainee scheme, Markel University.
Axa stengthens management team
Frank Woods has been appointed as Axa broker development manager with effectfrom Monday 2 August. He is currently area development manager for Birmingham.
Amber appoints new MD
Amber Credit has appointed Rob Fry as its new managing director.
New motor product rolled out for insurE-com brokers in August
The first Holdsure Polaris motor product, “Enterprise”, is now ‘in build’ and is expected to be available to insurE-com intermediaries from August.
TRIA calls continue
The Property Casualty Insurers Association of America (PCI) has supported the National Conference of Insurance Legislators’ (NCOIL) new resolution urging Congress to continue to extend the Terrorism Risk Insurance Act (TRIA) beyond its expiry date of 31…
Towergate’s founders donate £4m worth of shares to staff
Founders of Towergate Underwriting Group, Peter Cullum, Paul Dyer and Tony Proverbs, are gifting almost 2% of their shares, worth an estimated £4m, to staff.
Arig unveils first half 2004 results
Arab Insurance Group (Arig) has announced its results for the first half of 2004, along with plans for increasing capital by a rights issue.
Assurex Global Re forms new cell
Assurex Global Reinsurance, a captive insurance company formed by Assurex Global Partners, has announced the formation of a specific cell to provide critically needed risk management and insurance needs to construction industry clients.
Heath nets major online insurance contract win
Heath Lambert’s personal lines division, Heath Lambert Insurance Services, has won the contract to provide home insurance to the specialist online security products provider, Saunderson Security.
Lloyd's sets electronic slip deadline for binding authorities
Lloyd’s today announced that slips for all placements of binding authorities will need to comply with London Market Principles standards from the start of 2005.
Equitas strikes £14.1m outsourcing deal
Lloyd’s reinsurance company Equitas has extended its contract with business consulting and business process outsourcing company IT Net. The three-year deal will be worth a total of £14.1m.
Airmic given FSA exemption
The Financial Services Authority has bowed to demands from risk managers who want to escape regulation to sell general insurance.
FSA appoints ex ombudsman chief as complaints commissioner
Sir Anthony Holland, chairman of the Northern Ireland Parades Commission and a former principal ombudsman for the Personal Investment Authority, has been appointed to be the independent complaints commissioner for the Financial Services Authority.
Recruiting firm merges London offices
Insurance recruitment agency, Darwin Rhodes, has opened a new headquarters in the City of London.
Creditors to get 90p in pound for Anglo-American run-off
One of the highest scheme payment percentages for any insolvent London Market insurance company has been announced by the joint scheme administrators of Anglo American Insurance Company, Tony McMahon and John Wardrop, partners in KPMG Insurance Solutions.
Audit regulator appoints new directors
Patricia Hewitt, Secretary of State for Trade & Industry has confirmed the appointment of Paul Druckman and John Sunderland as directors of the Financial Reporting Council (FRC).