News
Zurich adds to high net worth cover
Zurich's high net worth division, Zurich Private Clients, has announced the introduction of a number of lifestyle protection cover enhancements to its existing home and motor product range.
Wellington Underwriting signs Xchanging deal
Wellington Underwriting's Lloyd's managing agency, Wellington Underwriting Agencies, has appointed Xchanging as its reinsurance claims handler.
Lloyd's members in business mentoring scheme for police
Senior police officers from the London Borough of Tower Hamlets are being mentored by high level figures from Lloyd's of London to develop their skills in business planning, change management and financial planning.
FSA costs to break £200m
The Financial Services Authority's annual budget is expected to break the £200m threshold for the first time this year, partly as a result of impending regulation of mortgage business and insurance brokers.
MBNA snaps up Premium Credit
Credit card giant MBNA Corp has acquired Epsom-based premium finance provider Premium Credit for £180m from HSBC Holdings and London-based buyout firm Electra Partners Europe.
Arch announces two appointments
Arch Insurance subsidiary, Arch Capital, has appointed Graham Ward as chief financial officer, and Charles Tindall as offshore energy underwriter.
Aon releases 2004 political risk map
Broker Aon has unveiled its latest political and economic risk map of the world.
Fowler takes up full-time role at IRM
The Institute of Risk Management has appointed Steve Fowler as permanent executive director.
AM Best revises The St Paul rating outlook
Rating agency AM Best has revised its review of the financial strength and debt ratings of The St Paul Companies from positive to developing.
UKI Partnerships wins Stroud & Swindon Building Society contract
UKI Partnerships has won the household insurance account for Stroud and Swindon Building Society, available throughout its 22-branch network.
Goshawk FD to resign as insurer records
Lloyd's business accounts for smaller share of business than "might otherwise have been expected"
GE Frankona Re announces restructure
GE Frankona Re has announced that it is streamlining its organizational structure and enhancing its strategy.
Insurance fat cats attacked
Insurance fat cats at groups such as Prudential and Aviva have come under fire from a parliamentary committee for receiving salary increases, while policyholders face shortfalls on certain mortgages of £30bn over the next 15 years.
Brit pumps £1.5m into cricket sponsorship
Brit Insurance has signed a three year deal to sponsor the Oval cricket ground and Surrey County Cricket Club for £500 000 a year. It also has an option for a further two year extension.
Omni Whittington takes management of run-off Syndicate 376
Talbot Underwriting has agreed to transfer the management of Syndicate 376 to specialist run-off agent Omni Whittington Capital Management.
Watson Wyatt establishes German insurance arm
Watson Wyatt is establishing an insurance and financial services consulting team based in Munich.
Partner Re hit by Algerian gas explosion
Bermudian reinsurer Partner Re has announced that it is facing a $27-30m claim from the explosion that wrecked a natural gas plant in Algeria on 20 January this year.
Heath Lambert sees capacity migration
British businesses shouldn't relax just yet according to broker Heath Lambert Group, despite indications that the insurance market may be softening in some areas.
Police investigation underway into Tribune collapse
A Police specialist fraud unit is investigating the collapsed insurance intermediary, Tribune Risk and Insurance Services, Insurance Window can reveal.
Axa loses two heads to Groupama
Phil Bird will be joining Groupama from Axa as director of non-motor and SME underwriting, while Kate Mutter, also from Axa, will be joining Groupama to head the group's sales and agency activities.
Brown retires from XL Capital
XL Capital has announced that Nicholas Brown, chief executive of the company's insurance operations, will be retiring on 1 April this year. He will be replaced by Clive Tobin, who is currently chief executive of XL Insurance Global Risk.
ICOB rules criticised for mirroring EU Directives
The Financial Services Authority's Conduct of Business rules have been criticized for following EU Directives too closely, according to Oliver Lodge, managing director at Beachcroft Wansbroughs Consulting.
XL Capital reshuffles management
XL Capital has announced a series of senior management appointments in its reinsurance operations.
BIBA launches FSA compliance workshops
The British Insurance Brokers' Association has announced a nationwide series of compliance workshops to guide practitioners through the Financial Services Authority application process.