News
Transatlantic Re CEO says company will not go under if AIG fails
The chief executive of reinsurer Transatlantic Re has said the company will not go under if AIG fails to solve its long-term liquidity issues.
Moody's maintains ratings on AIG despite rescue
Ratings agency Moody's has kept its ratings on AIG despite the $85bn rescue of the company by the US government earlier this week.
Hurricane Ike claims continue to skyrocket
(BestWire) — Claims from Hurricane Ike continue to skyrocket for the nation's largest property insurer but one catastrophe risk modeler has reduced its estimated onshore and offshore insured losses.
Marsh appoints new SME chief
Marsh has appointed Julie Page as Head of Marsh UK’s commercial practice which serves the small and medium sized enterprises sector.
Tele-underwriting delivers, according to delegates at seminar
Conversion and claims rates for insurers are vastly improved through tele-underwriting, according to delegates at MorganAsh’s recent seminar in Bristol.
Over 30,000 students could benefit from experience of financial meltdown
Financial education charity the ifs School of Finance has opened registrations for their annual ifs Student Investor competition for teenagers.
Worksite health cash plans – just what the doctor ordered?
Six in ten (61%) adults in Great Britain unable to afford some health costs, the provision of workplace health cash plans could be a major opportunity for employers, according to Engage Mutual.
AIG CEO Liddy outlines new, streamlined AIG to employees
AIG's new chief executive officer Edward Liddy has told AIG employees that AIG will still exist despite fears that the company will be broken up after it came to an $85bn deal with the US goverment late on Tuesday night.
PB Week: AIG attempts to reassure brokers
On Monday evening I returned from Spain to find the financial world seemed to have turned upside down, writes Andrew Tjaardstra, editor, Professional Broking .
AIG appeases UK brokers
AIG UK has issued a statement to UK brokers assuring them its ability to pay claims remains “undiminished”, in a bid to pacify wavering confidence within the market.
Fitch puts HBOS/Lloyds TSB on negative watch
Fitch Ratings has today placed HBOS’ long-term issuer default rating of AA and Lloyds TSB’s long-term IDR of AA+ on rating watch negative.
IGI bolsters legal expenses operation with acquisition
Specialist general insurer, IGI Group (IGI), has acquired legal expenses specialist Complete Claims.
Major reinsurers. brokers sign agreement for shared electronic data platform
Some of the European reinsurance market's biggest names have signed an agreement to establish an electronic data transmission platform that will facilitate administrative processes between insurers, brokers and insurers.
Randall & Quilter H1 pretax profit doubles
Randall & Quilter, the UK run-off company, said that first half pretax profit doubled to £4.4m from £2.2m the year before.
Lloyds insurers may benefit from AIG trouble - KBW
The difficulties at stricken insurance giant AIG "probably" may well lead to a rise in business volumes and profits in the 2009-10 are likely to rise, analysts at Keefe & Bruyette said.
Heath Lambert appointed as broker for FKI
Heath Lambert Group has won diversified engineering group FKI, which has offices in 17 countries in addition to the UK and a turnover of £1.4bn, as a client.
Barbon results bode well for future, says Goodman
Barbon Insurance Group has posted its first financial statement since rebranding from Erinacous Insurance Services, separating from its parent company and its acquisition by a banking consortium.
Lloyds TSB and HBOS tie-up aims for £1bn yearly savings
Lloyds TSB and HBOS have reached agreement on the terms of a recommended acquisition by Lloyds TSB of HBOS.
RMS ups insured loss estimates from Ike to $7-12bn
US modelling agency RMS has upgraded its US onshore and offshore insured losses from Hurricane Ike to $7-12bn from its original estimate of $6-16 bn.
Whittington hires independent non-executive chairman
Lloyd’s managing agent Whittington Capital Management, part of insurance investor and services provider Whittington Group, has appointed Tom Riddell as independent non-executive chairman.
Hiscox upgraded despite 'unsettled times'
Rating agency AM Best has upgraded Hiscox to A from A-. The rating covers Hiscox Bermuda, Hiscox UK and Hiscox Guernsey.
Lloyds TSB confirms take over of HBOS
Lloyds TSB has confirmed this morning that it will take over rival bank HBOS. The move follows the collapse of shares in HBOS which has 20% of the UK mortgage market. The move would also create a new top ten insurer in the UK .
Pick of the Week
Post editor Jonathan Swift looks at the major stories from the general insurance market. This week: A...
Appointment at Zurich
Zurich North America Commercial has appointed Richard Richiski as head of distribution and regional ...