News
Hartford to lay off 2% of workforce
(BESTWIRE) A week after posting a $2.6bn third-quarter loss, US insurer Hartford Financial Services Group Inc. said it is laying off nearly 2% of its total work force and may cut more jobs in January.
Marshall Wooldridge acquire HNH
Leeds-based Marshall Wooldridge has acquired the entire share capital of Garforth based HNH, writes Katherine Brandon, reporter, Professional Broking.
Hannover Re core operations recognised by S&P
Ratings agency Standard & Poor's has assigned its 'AA-' counterparty credit and insurer financial strength ratings to five foreign life and health reinsurance subsidiaries of Germany-based reinsurer Hannover Re; AA-/Stable/--): Hannover Life Reassurance…
Max Capital sees net loss of $163.2m
Max Capital Group has reported a net loss for the third quarter of 2008 of $163.2m compared to net income of $66.8m for the same period last year.
Venture Preference acquires broker
Venture Preference has acquired Northampton-based broker Newspace Insurance Services.
BIBA calls for change to help protect flood-zone properties
BIBA calls for change to help protect flood-zone properties The British Insurance Brokers' Association (BIBA) has called on the Government to work closely with the insurance industry to protect households and businesses across the UK from flooding.
Skandia exits ABI
Skandia UK has today announced it is ending its membership of the ABI. Addressing financial adviser delegates at a seminar in Southampton, Skandia UK CEO Nick Poyntz-Wright said Skandia’s business model clearly differentiates it from old style life and…
Axa launches new motor product for low risk drivers
Axa Insurance has launched Axa Car, a new personal lines intermediary (PLI) motor product for the low risk driver market.
Bulletin released for shipowners on avoiding pirates
The Standard P&I Club has released an eight-page special guidance report on how shipowners can minimise the dangers posed by pirates in the seas around Somalia.
Axa aims for top five place in motor
Axa has launched a new personal lines intermediary motor product called Axa Car, which it hopes will help put it in the top five providers by 2012.
Assurant Solutions Intermediary expands B&C team
Assurant Solutions Intermediary (ASI), has increased its building & contents insurance administration team by 10 people since July bringing the total headcount to 14, and the total number of employees based in York to 55.
Aon appoints new regional director
Aon UK has appointed Jim Herbert as its new regional director for the central region, which includes Birmingham, Leicester and Manchester.
Paris Re ups Ike loss estimates
Paris Re has updated its initial loss estimates for Hurricane Ike to approximately $130m pre tax, net of reinsurance and reinstatement premium.
Zurich joins forces with UAE-based company to create takaful business
Zurich Financial Services Group has signed an agreement with United Arab Emirates-based Abu Dhabi National Takaful Company PSC to create a new family takaful business.
Skandia is mistaken, says Association of British Insurers
Stephen Haddrill, Director General of the Association of British Insurers’s, has responded to Skandia’s resignation from the ABI.
Recruitment moves
AIG's acting chief financial officer Steven Bensinger has resigned, with David Herzog taking his pla...
Hannover Re issues FY profits warning
Hannover Re, the German reinsurance giant, has said that the sharp fall in equity prices and the "ab...
Investment losses
(Re)insurance companies have seen their investment income dive over the third quarter of 2008 compar...
Realised and unrealised losses
The (re)insurance industry has also shown a number of unrealised and realised losses during the thir...
Casualty reigns
The financial crisis may have hurt for financial services companies the world over, but it has meant...
Greenberg warns soft market 'over'
Evan Greenberg, chairman and chief executive of Switzerland-domiciled (re)insurer Ace, has said the ...
AM Best places insurers' ratings under negative review
AM Best has placed several insurers' ratings under review with negative implications "based on the c...
Xchanging webcast online now
Xchanging CEO David Andrews talked to Anthony Gould, group editor in chief of Reinsurance last month...
Bahrain boom in 2007
The Central Bank of Bahrain said that the Bahrain insurance market posted its strongest-ever annual ...