News
TAG test cases reach agreement
Insurers have agreed to a settlement as part of The Accident Group test cases over an issue that was...
Councils unite to fight dubious CFA claims
Local authorities are continuing to lose money as a result of an increase in spurious compensation c...
Groupama recruits another Axa manager
Groupama has recruited another Axa manager, weeks after two other colleagues, Phil Bird and Kate Mun...
Penny Black's insurance week
Penny was glad to hear that Royal & Sun Alliance small business boss Simon Cooter enjoyed hi...
Aquilo floats to value of £6m
Claims services company Aquilo is aiming to float on the Alternative Investment Market by mid-April,...
Insurers may be hit by EC VAT plan
Personal injury and medical negligence insurers could be hit hard by an EU Directive that will add 1...
New international personal lines head at Ace
Thomas Urbanec has joined Ace as executive vice president of its International Personal Lines division.
Axa's Regan moves to RSA as group financial controller
Royal & Sun Alliance Insurance Group has appointed Pat Regan in a new role as group financial controller, subject to approval by the Financial Services Authority. The appointment follows the announcement in January that George Culmer will join the Group…
WTC insurance trial starts
The first trial to decide how much money will be paid out for the destruction of the World Trade Centre (WTC) on 11 September 2001 has begun in New York.
Carole Nash buys AA motorcycle book
Broker Carole Nash Insurance Consultants has acquired the AA’s entire motorcycle insurance business.
XL Capital hit by Q4 2003 loss
XL Capital has reported that it made a loss of $314.8m in the last quarter of 2003, down substantially on the $214.1m profit made over the same period of 2002.
Countrywide merges with Build Assured
Durley Group Holdings, the parent company of Countrywide Property Inspections, has by the issue of new shares acquired Hillcrest (Yorkshire), which trades as Build Assured.
S&P warns Axa UK of possible downgrade
Rating agency Standard & Poor's has revised its outlook on Axa’s UK-based general insurance arm Axa Insurance to negative from stable. At the same time, S&P affirmed Axa Insurance’s 'A+' long-term counterparty credit and insurer financial strength rating.
Ace promotes Burton
Bermuda-based Ace has announced that Simon Burton has been appointed president of Ace Financial Solutions International (Ace FSI).
European insurers facing €100bn capital black hole
The European life sector is facing a €100bn capital shortfall, according to a new report from strategy consultants Mercer Oliver Wyman.
Riskworks acquires Bell Rossiter
Cheshire based insurance broking and risk management company, Riskworks International, has acquired the commercial business interests of Bell Rossiter.
SVB in liability launch
Novae Underwriting, a new specialist liability service company, has been created by SVB Holdings.
The Regency Group restructures
Broker The Regency Group has announced a management restructure, including the move of the company’s founder Kerry Michael to a non-executive role.
CBG acquires Cloughley Insurance Services
The Community Broking Group is set to acquire broker Cloughley Insurance Services Limited on 1 March 2004.
Nearly 100 people attend Heath Lambert conference
Heath Lambert warned property managers about impending FSA regulation, at a conference held at Lloyd’s last week.
Axa manager departure
Groupama has recruited another Axa manager, just weeks after two other similar appointments. Andy Heap, who was Axa’s Premier Partners channel manager, has been appointed Groupama’s head of customer propositions.
Sides reach agreement in TAG test cases
The Claimants and the defendants in The Accident Group test cases have successfully mediated an agreement in relation to the compliance issues - the recoverability of solicitors' costs - surrounding the TAG panel solicitors' costs.
Dickson Manchester to merge with Rattner Mackenzie
HCC Insurance Holdings intends to merge its wholesale broker subsidiary Dickson Manchester with its other Lloyd’s intermediary Rattner Mackenzie.
First complex risk placed at Lloyd's via Kinnect
Broker Willis has placed the first complex open market risk on platform Kinnect with Lloyd’s insurer Amlin.