News
XL Capital contributes additional capital
Bermudian-domiciled XL Capital has contributed £55m of additional capital to support the business gr...
Willis agrees to acquire Danish broker
Global broker Willis has agreed to acquire Copenhagen-based broker Kirecon. Willis chairman and chie...
Broker Bennetts selected by British Motorcyclists Federation
Broker Bennetts has been selected by the British Motorcyclists Federation as its preferred broker in...
Brokers attack FSA's regulatory "disarray"
The Financial Services Authority's likely prevarication over the issue of risk transfer and handling...
Analyst calls on Audatex to act
Robert Hadfield, head of body repair industry analysts Auto Body Projects, and secretary of the Auda...
Abta U-Turn on sale fines
The Association of British Travel Agents this week pulled back from its proposal to develop specific...
Appointment at The Fyfe Group
Hilary Inskip has been appointed associate director of The Fyfe Group, the niche market specialist. ...
ABI rebuffs Hiscox call for separate trade body
The Association of British Insurers has rebuffed calls by Hiscox chairman Robert Hiscox in last week...
The Randall Group acquires Cavell Management Services
Specialist non-life run off manager The Randall Group has acquired Cavell Management Services and ob...
RBS denies CSG closure
Royal Bank of Scotland Insurance has moved to deny reports it is closing Claims Services Group, the ...
Matson to join SVB
SVB Holdings has recruited Peter Matson, former co-founder of PRI, to the group.
NU launches commercial product range
Norwich Union has launched a range of segment-specific commercial products to provide businesses with cover specifically tailored to their needs.
Axa Insurance looks to reduce headcount by 700 as part of new strategy
Insurer to stop promoting Direct brand and off shore more jobs to India.
XL Capital hit by $694m pre-tax reserve charge
Bermuda-based (re)insurer XL Capital has announced that the company's fourth-quarter 2003 results will be hit by a $694m pre-tax reserve charge following a claims audit review.
Axa Insurance looks to reduce headcount by 700 as part of new strategy
Insurer to stop promoting Direct brand and off shore more jobs to India.
Brit heads down under
Brit Insurance Holdings has joined up with Australian Reinsurance Underwriting Services (ARUS) to strengthen its ties with the Australian and New Zealand markets.
Willis looks to Copenhagen
Willis has announced that it has agreed to acquire Copenhagen-based reinsurance broking company Kirecon. The exact terms of the deal have not yet been disclosed.
FSA warns over mystery commercial insurer
The Financial Services Association has issued a consumer alert, after receiving a tip off in early December of an unauthorized insurer selling commercial policies including employers' liability.
Capita's non-compete gag expires on Eastgate founders
Specialist non-life run off manager, The Randall Group, has acquired Cavell Management Services and obtained approval from Lloyd's to run its own Managing Agency.
Zurich finalises French business sale
Zurich has announced the completion of the sale of parts of its French business to Assicurazioni Generali Spa. The sale, which was announced in September, includes all of Zurich's life operations – including the Eagle Star business – plus parts of Zurich…
Brokers suffer
The insurance broking sector saw a drop in profitability in the final quarter of 2003, the only financial services sector to do so according to a new report from the Confederation of British Industry.
Fitch removes Scor from negative watch
Rating agency Fitch has affirmed Scor Group's Insurer Financial Strength rating at 'BB+' and the Long-term and Short-term ratings of SCOR at 'BB' and 'B', respectively, removing them from Rating Watch Negative. The rating outlooks are now Stable.
Start-up seeks brokers
Lamasz Hettle Risk Consulting Limited has been set up in Birmingham by former senior figures at Alexander Forbes.
Ilium boosts syndicate with senior appointments
Lloyd's liability syndicate, Illium syndicate 4040, has strengthened its team with the appointment of four underwriters.