News
IUA outlines plans for 2009
Speeding up claims payment and representing the London company market's interests are top priorities for the International Underwriting Association in its 2009 business plan.
UBS buys AIG's commodity index business
The fire sale for AIG's businesses continued this week when Swiss Bank UBS said that it had bought the troubled US insurer's commodity index business for $150m.
Scor planning $200m catastrophe bond - reports
Scor, the French reinsurance giant, is currently marketing a $200m catastrophe bond to potential investors, according to reports.
APC continues national expansion
Commercial insurance underwriting agency APC has recruited a fourth broker development manager as part of its aggressive regional expansion across England into Northern Ireland and Wales.
Lockton adds to North American property team
Lockton has appointed Adam Watson as executive director to complement and strengthen its nine-strong Global Risks team's North American Property business in the US.
Brit launches US platform
Brit is launching a US underwriting unit that will be based in Chicago, Illinois.
RBS raises prospect of insurance sale with latest loss announcement
Royal Bank of Scotland group chief executive officer Stephen Hester today said the government's support will allow it to "continue its strategic restructuring purposefully". It added it will report for full year 2008 an attributable loss, before…
Axis raids Cunningham for major loss expert
Axis International Loss Adjusters and Surveyors has appointed Richard Atkin as technical director. He joins from Cunningham Lindsey where he was a major loss expert.
Longhawk confirms management reshuffle
Longhawk group has announced that managing director Paul Smith and finance director Tim Ward have both stepped down from their respective roles.
AIG link to New York crash
AIG is believed to be an insurer on the commercial airliner that crashed in New York yesterday.
LV Broker opens new office
LV Broker has opened a new office in Birmingham covering the East and West Midlands.
Post launches insurance fraud initiative
Post has launched the Insurance Fraud Awards 2009 which will be presented at a special awards dinner on 1 October in London. Anthony Gould, Post group editor in chief, commented: "Fraud is at the top of the general insurance industry's agenda this year…
RFIB reports uplift in revenue and profit
RFIB, the Lloyd's insurance and reinsurance broker has reported that operating revenue for the 12month period ended 30 June increased by 12% to £34.0m (2007:£30.4m). Profit before tax for the same period increased by 44% to 4.4m (2007:£3.1m).
FSA issue warning over unauthorised insurance provider
The Financial Services Authority has issued a consumer warning about Aquote, an unauthorised firm which has been selling a range of locum insurance policies to GP surgeries across the UK.
Go Compare CEO tells consumers to shop around as insurers don't reward loyalty
Go Compare has called on the industry to sort out the issue of rising motor premiums.
Guy Carpenter's Reinsurance Solutions head steps down
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, said that Sal Zaffino has stepped down as chairman and chief executive of its Reinsurance Solutions business, which specialises in tailored insurance and reinsurance services.
Sterling selected as primary admin provider for CUNA Mutual Europe
Sterling Insurance Group subsidiary, Sterling Administration Services, has been selected as primary provider of insurance administration services to CUNA Mutual Europe.
PB Week: Adrian Colosso's guest blog
To misquote Charles Dickens, these have been the worst of times and, if we believe everything we read and hear via the global media circus, the best of times are a long way off, writes Adrian Colosso, chief executive of Heath Lambert.
Jubilee makes Suttle promotion
Lloyd's manging agency Jubilee has promoted Justin Suttle to deputy syndicate underwriter for its Lloyd's Syndicate 1231.
Markel snags senior casualty underwriter from AIG unit
Markel International Limited, the specialty property and casualty insurer, has appointed Louisa Lu as senior casualty underwriter in the product liability division of Markel International Singapore. Louisa will report to Peter Phillips, managing director…
Clyde & Co appoints new marine insurance and litigation practice
Clyde & Co, the law firm, has appointed marine insurance and litigation specialist John Woods to join its New York Insurance and Reinsurance practice.
Daman triples client base over two years
Daman, the UAE-based health insurer, said that it has doubled its client base to 1.6m people over the last two years, the company said in a staement.
Madoff may cost insurance industry $1.8bn - Aon Benfield
The Bernard Madoff scandal may cause insured losses of $1.8bn, according to research by Aon Benfield.
Brit enhances motor fleet policy
Brit Insurance Holdings has made a number of enhancements to its commercial motor fleet policy.