News
Brit appoints new divisional director
Brit Insurance, the UK-based international general insurance and reinsurance group, said it has appointed Nick Forti as divisional director for financial risks, within its Brit Global Markets business.
Chubb selects Arag as new legal expenses provider
Chubb Insurance has selected Arag as its new legal expenses provider for its mid, high and ultra net worth products.
Optimism in insurance sector despite bleak outlook for financial services sector says research
Job losses in the uncertain financial sector are expected to accelerate sharply in the first months of this year as business activity and profitability fall at record rates, a Confederation of British Industry survey has revealed.
Chubb selects Arag to enhance its HNW range
High net worth specialist insurer Chubb Insurance has selected Arag as its new legal expenses provider for its mid, high and ultra net worth products.
Amlin renewals up 30.6% on 2008
Lloyd's insurer Amlin today said it had written total income to date of £389.0m for the financial year starting 1 January 2009 (before deduction of brokerage), a 30.6% increase on the prior year.
London Club warns of potential increase in exposure to liability
The London P&I Club has warned its members to be wary of a potential increase in exposure to liability for claims as a result of pressures exerted by charterers in the current tough market conditions, and against a background of continuing piracy attacks…
Liberty Mutual recruits ex-Aon broker manager for regional push
Liberty Mutual Insurance Europe Limited (LMIE), a member of Liberty Mutual Group, has appointed Michelle Beverley as branch manager for its Manchester office. The new position is the latest development in Liberty's drive to grow its regional presence.
Snowball steps up assualt on RBSI business
Former Aviva executive Patrick Snowball has stepped up his attempts to buy Royal Bank of Scotland Insurance, according to reports over the weekend.
Bupa individual protection reduces critical illness rates
Bupa Individual Protection is reducing the cost of its critical illness cover by an average of three percent with immediate effect.
Groupama Insurances launches nationwide roadshows
Groupama Insurances is offering a 'behind the scenes' look at the business in a series of Open Days and regional Broker Roadshows across the UK.
FSA investigation finds Aon made payments to Burma
In its report into Aon's £5.25m fine over "failing to take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems", some payments were made to third parties in Burma, the regulator said.
Advent ups Ike estimates due to losses on energy account
Advent has increased its estimated losses for Hurricane Ike from £15m before tax, as reported in its third quarter results, to a current estimate of £42m before tax.
$3m dollar ransom paid for supertanker
The Somali pirates who captured the Saudi supertanker MV Sirius Star have released the ship and crew after a $3m dollar ransom was paid.
CEA sets out key issues arising from QIS4
The CEA, the European insurance and reinsurance federation, today set out the key issues that were highlighted in a Solvency II impact study.
Swinton completes IAG deal
Insurance Australia Group has confirmed that the sale of the Equity and Open and Direct branch network to Swinton Group completed yesterday.
CEA sets out key issues highlighted by insurers after QIS4 exercise
The CEA, the European insurance and reinsurance federation, today set out the key issues that have been highlighted by insurers as a result of last year's QIS4 exercise, the fourth quantitative impact study run by the Committee of European Insurance and…
Senior Aon Benfield fac broker resigns
A senior facultative broker has resigned from Benfield Fac, Reinsurance has learnt.
Dual launches range of management liability products
Dual Corporate Risks has launched a new range of management liability products for the UK broker market, Post can reveal
PB Week: Aon given largest financial crime fine
Today Aon was fined 5.25m pounds by the Financial Services Authority after the regulator gave the broker its largest financial crime related fine writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
Global property business leads Jubilee portfolio expansion
Jubilee Managing Agency (Jubilee), the specialist Lloyd's insurer, has announced the first of its new business lines, with the launch of a Global Property account, part of its strategy to expand and diversify its product portfolio.
Aon UK CEO expects other brokers to be investigated
Aon UK chief executive Peter Harmer told Reinsurance Magazine that he expected other brokers to be investigated by the FSA following today's announcement that the broking giant had been fined a record £5.25m fine by the Financial Services Authority.
Bank of England drops rate to 1.5%
The Bank of England has dropped its base rate to 1.5% following a meeting of the Monetary Policy Committee. This is a reduction if 0.5% and the lowest rate in the bank's history.
SFO launches Madoff investigation
The Serious Fraud Office is opening an investigation into Bernard Madoff's UK business operations.
Aon "recognises and regrets" £5.25m FSA fine
Aon has said it "recognises and regrets" the failings that led to the Financial Services Authority fining it £5.25m