News
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
Catlin appoints chief underwriting officer for US operation
Catlin, the Lloyd's (re)insurer, has appointed that Joseph Horan has been appointed chief underwriting officer for its Catlin US reinsurance business.
FSA fines Aon £5.25m
The Financial Services Authority has today fined Aon £5.25m - its largest ever financial crime-related fine.
Abu Dhabi government seeks increased insurance regulation
The government of Abu Dhabi is seeking to increase insurance regulation in an effort to continue to grow in the United Arab Emirates.
Helphire names new chairman
Richard Rose has been appointed as the new chairman of Helphire.
Greenberg slams AIG's HSB sale
Former AIG chairman and chief executive Maurice "Hank" Greenberg has slammed AIG's $742m sale of Hartford Steam Boiler to Munich Re.
IPC Holdings ups Ike, Gustav estimates
IPC Holdings, the Bermudian (re)insurer, has upped its estimate of claims from hurricanes Gustav and Ike by approximately $47m to a total estimate of approximately $135 million, net of reinstatement premiums.
Delta Lloyd and ABN AMRO continue joint venture
Aviva's Dutch-based business Delta Lloyd Group and ABN AMRO Bank Netherlands are to continue their insurance joint venture known as ABN AMRO Insurance.
Agricultural insurance in China expected to reach $1.8bn in 2008
Agricultural insurance premiums in China are expected to reach nearly $2bn in 2008, experts at Swiss Re have said in a report.
PICC FY premium income reaches record levels
(Bestwire) PICC Property and Casualty Co. Ltd. [77633], the largest nonlife insurer in China, said its direct premium income for 2008 reached 100 billion yuan (€10.8bn), a new record for the company.
MMC settles US bid-rigging case
(BestWire) - Marsh and McLennan has reached a $7m settlement with nine states stemming from an investigation into bid-rigging and broker compensation schemes dating back to a 2004 investigation, state and company officials said, Reinsurance has reported.
The US and Asia to lead shallow recovery to long recession, predicts CII
The CII's latest Thinkpiece, the first of a series of six international articles in association with Chatham House, says the current global economic recession was brought about by a rapid and unusually synchronised global slump, predicting that it will…
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Government cash to boost industry skills
The National Skills Academy for Financial Services has won government funding to help financial serv...
Managers losing sleep over redundancy bill
The cost of redundancies is a major cause of concern among senior insurance executives assessing the...
Willis in NEDA link-up as governance concerns grow
Broker Willis has forged a partnership with the Non-Executive Directors' Association to help members...
Jubilee launches global property account
Lloyd's managing agency Jubilee has launched a global property account.
Pick of the week
Post senior reporter Sarah Hills rounds up the top stories from the general insurance sector. This we...
Appointment at Romero
Romero Insurance Brokers has recruited Richard Nicholson and Jon Land as directors. ...
Appointment at Ace
Ace Global Markets has appointed Andrew Williamson as head of marine product line. In this new posit...
Cobra boosts its Lloyd's fleet broking team
Lloyd's broker Cobra London Markets has strengthened its motor fleet team with the hire of four brok...