News
Groupama's Bruce speaks about broker move
Outgoing Groupama distribution and customewr services director Cathie Bruce has described her move to Choice Quote as "a terrific opportunity".
Catlin names new head of Canadian operation
Catlin, the Lloyd's of London (re)insurer, said that it has promoted Michael Hansen to president of Catlin Canada, its Canadian subsidiary.
Bruce to quit Groupama for broker MD role
Groupama Insurances has confirmed that Cathie Bruce, distribution and customer service director at Groupama Insurances, is to take up a new position as managing director of Choice Quote Insurance Services, the specialist broking subsidiary that was…
AIG plunges 45% in early trading on Federal Reserve reports
Shares in AIG plunged 45% in early trading in New York on worries that the insurance behemoth might turn to the US Federal Reserve Bank for $40bn worth of backing in an effort to stave off the 'double whammy' of a liquidity crisis and a possible credit…
Carole Nash re-launches website with online magazine content
Carole Nash, the UK’s motorcycle insurance intermediary, has re-launched its website to incorporate around 10,000 pages of editorial content written by some of the UK’s best known biking journalists.
Hannover Life Re appoints new head of business development
Hannover Life Re (UK) said it has appointed Paul Casey as its new head of business development.
Countrywide launches new membership package
Countrywide has launched Countrywide Plus, a new proposition to help member brokers generate more income and grow their business with expert support.
Travelers UK launches two new theatre products
Shortly after releasing its new film wordings in May, Travelers UK Media & Entertainment team has launched two further products. The new Stage Door and Stage Show policies will provide specialist insurance solutions tailored to cover theatres and…
Merricks replacement named
The British Insurance Law Association has announced that Lord Justice Rix is taking over as its president from 12 September. He succeeds Walter Merricks, the chief financial ombudsman. Professor Rob Merkin, University of Southampton, has been nominated…
UK Insurers with Lehmans exposure named
There are three UK listed insurance companies with direct exposure to US debt through substantial fixed-annuity books – Aviva, Prudential and Old Mutual – according to Keefe, Bruyette and Woods.
Libero future hangs in balance after Lehman collapse
The future of Libero Ventures hangs in the balance after US bank Lehman Brothers, its principal owner, filed for bankruptcy over the weekend.
HSBC seen as bidder for AIG's Asian insurance business
HSBC could bid for AIG’s Asian business, according to market sources.
AIG approaches Fed for $40bn loan for short-term financing - reports
AIG has approached the US Federal Reserve Bank for $40bn in short-term financing, reports have said.
Financial crisis claims another scalp
Lehman Brothers Holding (“LBHI”), the US investment bank, has announced that it intends to file a petition under Chapter 11 of the US Bankruptcy Code.
Ecclesiastical plans head office move
Ecclesiastical today confirmed it is planning to keep its head office in Gloucester by moving its 650 Gloucester-based staff to a new-build site in the Gloucester Docks development. The multi-million pound project is expected to be completed in 2011.
AIG linked with $20bn sell off
AIG is seeking to raise $10bn-$20bn (£5.6bn-£11.1bn) by selling non core assetts.
Cooper Gay acquires mining team
Insurance and reinsurance broker Cooper Gay has added a new specialist mining team to its London based energy and construction division.
Hurricane Ike may have a $3bn impact on reinsurers - KBW
Hurricane Ike may cost the reinsurance industry around $3bn, according to analysts at Keefe, Bruyette & Woods.
Flagstone Re expects $10-15bn total insured industry losses from Hurricane Ike
Bermuda-headquarted reinsurer Flagstone Re said today that their preliminary analysis estimates that total onshore insured industry losses from Hurricane Ike could range from $10-15bn.
Hurricane Ike hammers Texas Coast
Hurricane Ike has arrived on the Texas Coast, devestating the City of Galveston and threatening Houston.
Esure goes green
Esure has saved over two million sheets of paper and more than doubling its recycling in a year.
The Withers Group expands into the north
The Withers Group has opened a new office in Warrington, Lancashire, servicing insurance and construction clients from the Midlands to Scotland.
Greenberg, other directors agree $115m suit settlement
Hank Greenberg and three other directors of CV Starr have agreed to pay $115m to settle a suit from the Teachers Retirement System of Louisiana.
Ernst and Young boosts London and Bermuda insurance team
Former QBE European operations director David Lang has joined Ernst and Young as a director in the London and Bermuda insurance team.