News
Argo to establish casualty and professional risks division
Argo Group, the Bermudian (re)insurer, said it has established a casualty and professional risks division within Argo Re, the Company's Bermuda-based reinsurance operation.
Allstate downgraded by Moody's
US giant Allstate suffered the latest blow in a week that saw its shares tumble by around 20% in a day when it was downgraded by ratings agency Moody's.
Chubb annual net income falls by $1bn
The Chubb Corporation has reported a fall in net income to $1.8bn (£1.27bn) in 2008 compared to $2.8bn for the previous year while net written premiums decreased 1% year on year to $11.8bn.
AIG appoints new vice chairman
AIG has said that it has appointed Anastasia Kelly as its new vice-chairman.
IP Task Force concerned about use of the phrase ’Income Protection’
The Income Protection Task Force (IPTF) are meeting to discuss the Competition Commission Report on payment protection insurance (PPI) next week but believe there is an immediate need to prevent consumer confusion by outlawing the use of the term "Income…
LV= partners with Assureweb to launch ‘real-time’ annuity quotes system
Leading annuity provider LV= has announced it has entered into a partnership with Assureweb 1 to launch a new annuity quotation service.
Friends Provident enhances its CI Cover
Friends Provident announced today that it has enhanced its Critical Illness Cover (CIC) by extending the list of conditions covered under its plan to 36. The company has also extended the maximum policy term to 40 years and the age at which plans can end…
Argo Group says US CEO to leave; ups Ike loss estimates
Bermudian (re)insurer Argo Group said that its president of its U.S. operations, Dale Pilkington, will be leaving the Company as of May 1, 2009.
Willis appoints new head of Manchester office
Willis has appointed Tony O'Gara as branch director of its Manchester office effective immediately.
Thornton leaves Cooper Gay
The chairman of the British Insurance Brokers' Association Derek Thornton has left Cooper Gay where he was executive chairman of its UK wholesale broking business, FSJ.
Airmic publishes claims guide
The Association of Insurance and Risk Managers has published its claims best practice guide.
Tysers snags senior exec from Benfield
Tysers, the Lloyd's broker, said it has appointed Edward Page-Turner as a director of its marine division.
Asda appoints pet insurance provider
Asda has appointed Thornside, the pet insurance division of BDML, part of Capita Group, to provide and administer its pet insurance programme.
Travelers creates new underwriting chief role
Travelers Insurance has named Paul Cusition as chief underwriting officer for its international operations.
Ace extends into Lloyd's
Ace is writing the company's portfolio of environmental liability products at Lloyd's.
Transatlantic FY net income drops 79%; shares tumble
Transatlantic Holdings, the US reinsurer, reported a 79% drop in net income for 2008, after catastrophe losses and lower investment income heavily impacted the company's bottom line.
SMEs increasingly looking for professional advice
A survey of small to medium-sized enterprises (SME), conducted by QBE, has found that the sector is increasingly looking for professional advice when it comes to securing insurance cover.
Arch hikes estimates for Ike losses by $160m
Arch Capital, the Bermudian (re)insurer, said that it expects to report after-tax operating income available for common shareholders in the range of $75-90 million for the 2008 fourth quarter.
GAB Robins to handle major £15m blaze claim
GAB Robins has been appointed to handle claims estimated to be in excess of £15m following a major fire at historic building Raasay House on the Isle of Raasay near the Isle of Skye.
State Farm to stop writing Florida property risks
State Farm Florida, the Florida business of US insurance giant State farm, said that it plans to discontinue its Florida property insurance product lines.
Cadogan Hanover Park expands film and media cover
Barbon-owned Cadogan Hanover Park has expanded its film and media insurance offering to include post-production indemnity.
Allstate's immediate issue is capital adequacy, says analysts
US insurance giant Allstate may be struggling with capital adequacy, a senior Wall Street analyst has said.
CC clamps down on PPI sales
The Competition Commission has published its final report into the payment protection insurance market, setting out the measures it has decided are needed to introduce competition between suppliers.
GHL announce share repurchase
Guardian Holdings has given notice of its intention to repurchase up to 4% of its issued ordinary shares through a normal course issuer bid" undertaken in accordance with the rules and policies of the Trinidad and Tobago Stock Exchange and the guidelines…