News
RSA unveils new online tool for marine products
RSA has improved its marine proposition by introducing iCargo, a new online tool designed to enhance the underwriting process.
Aon Q4 net income down 95%; FY net income up 71%
Aon's full-year net income shot up 71%, going to $1.478bn, up from $864m, thanks to its acqusition of Benfield midway through last year.
Policyfast releases new online truck product
Independently-owned web based underwriting agency Policyfast has designed a new truck insurance product designed to provide cover for vehicles weighing from 3.6 to 60 tons.
Catlin FY results expected to be 'ugly' - analysts
Catlin's full year results will be 'ugly', according to insurance analysts at Citi.
Former HSBC broker MD joins rival
Lloyd's broker Howden has appointed senior financial institutions practitioner, Patrick Gilham as a member of the senior leadership team. He was formerly managing director of the financial institutions practice at HSBC Insurance Brokers and joins in May.
Aon Benfield launches new credit and financial risks centre
Aon Benfield has launched an International Centre of Excellence for Credit and Financial Risks.
Allied World produces 'stellar' Q4 results
Bermudian reinsurer Allied World cheered the Bermudian market with strong operating results in the fourth quarter.
Cunningham Lindsey strengthens fraud team
Cunningham Lindsey UK has appointment two senior hires to its complex technical services team.
Hartford hit by $2.7bn FY net loss
The Hartford Financial Services Group, the US-based insurer, reported a $2.7bn loss of full year net income, down from a $2.9bn net gain in 2007.
FSSC warns on qualifications
The Financial Services Skills Council (FSSC) has warned advisers that current QCA Level 4 qualifications may not meet Retail Distribution Review (RDR) requirements in 2012.
LV= launches mortgage and lifestyle protection marketing toolkit
LV= has created a Marketing Toolkit to help financial advisers revisit their existing clients.
Swiss Re ratings place on review with negative implications by AM Best
AM Best Co. has placed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of ¡°aa-¡± of Swiss Reinsurance Company (Swiss Re) (Switzerland) and its similarly rated subsidiaries under review with negative implications…
Aspen Re hasn't seen losses from Madoff scandal; CEO bullish on rates
Aspen Re's casualty unit hasn't seen any losses as a result of the $50bn Bernard Madoff scandal, the company's chief executive Chris O'Kane told Reinsurance in an exclusive interview.
MMC supports NY transparency decision
Marsh & McLennan, the owner of insurance broker Marsh and reinsurance broker Guy Carpenter, has applauded the New York State Insurance Department for proposing a new regulation mandating full transparency in broker compensation.
Lloyd's makes changes to Franchise Board
Lloyd's of London has confirmed the re-election of Lord Levene as chairman.
Brazilian insurance industry to remain stable
The credit outlook for the Brazilian insurance industry is stable, but there are challenges from the weaker economy, increasing price competition and earnings pressures, Moody's said.
More Than finance boss joins Close
Andrew Price is leaving his position as head of finance at RSA direct arm More Than to take up a similar position at Close Premium Finance.
AIG sells subsidiaries in Thailand
Thai bank Bank of Ayudhya Public Company (BAY) HAS said it will acquire AIG subsidiaries AIG Retail Bank Public Company Limited and AIG Card (Thailand) Company Limited.
Willis applauds NY insurance department over transparency decision
Willis has applauded the New York State Insurance Department for proposing a new regulation mandating full transparency in broker compensation.
RBS to keep its insurance businesses
The Royal Bank of Scotland has decided not to sell its insurance businesses.
Assurant FY net income drops 32%
Assurant, the specialized insurance and insurance-related products and services provider, said that net incomoe dropped 32% over the course of 2008.
Catlin in US insurance underwriting deal
Catlin Group, the international specialty property/casualty insurer and reinsurer, has said that W. Brown & Associates Insurance Services will underwrite general aviation insurance for US clients nationwide on behalf of its US subsidiary, Catlin US.
Aspen FY net income tumbles 78%
Aspen Insurance Holdings, the Bermuda-based (re)insurer said that reported full year net income for 2008 of $103.8m, compared to a net income of $489m for 2007.
Swiss Re put on Creditwatch negative by S&P after asset writedowns
Standard & Poor's has placed its 'AA-' long-term counterparty credit and insurer financial strength ratings on Zurich-based global reinsurer Swiss Reinsurance Co. (Swiss Re) and its core affiliates on CreditWatch with negative implications.