News
XLCA reveals $810m exposure to troubled Alabama county
SCA, a subsidiary of XL's 46%-owned financial insurer XL capital assurance (XLCA) SCA said that it expects to make a $10.6m claim to holders of Jefferson County Alabama's sewer warrants as the county is gripped by a financial crisis. The claim payment is…
NU invests £5.7m in SME broker
Brightside Group has announced the acquisition of Group Direct and its associated companies, and Injury QED.
BGL appoints two new bosses
The BGL Group has confirmed today that it has made two senior level appointments.
RBSI confirms another senior departure
Royal Bank of Scotland has confirmed that Michael Rea has left his role as director of NIG.
Reinsurers' combined ratio deteriorates in Q1- RAA
The Reinsurance Association of America said that policyholders’ combined ratios fell to 95.2% from 89.8% in the first quarter of 2008 compared to the same period last year.
QBE appoints Mageean as property MD
Bernard Mageean has left RSA to join rival insurer QBE as managing director of its property division.
Full cycle EDI Household products from Axa now available on Insurecom
Axa's ABC and Exclusive household insurance products are now available to users of Insurecom.
Charles Taylor appoints international casualty leader
London-based loss adjuster Charles Taylor has appointed Andy Rice as director, international casualty, to support its global property and casualty practice.
THB plans for further growth with office expansion
Specialist insurance broker THB, has unveiled more than 16 000 square feet of additional office space at its London base in Leadenhall Street.
Equity buys Essex broker
Equity has bought Billericay broker, Peter DJ Murray Insurance Consultants.
Access to Axa household products widens
Two of Axa's household insurance products are now available to brokers through software solutions provider Insurecom.
Flagstone in $104m Cat bond deal
As first revealed by Reinsurance in May 2008 Bermudian reinsurer Flagstone Re has announced that it has bought a three-year fully collateralised retrocession on an indemnity basis from Valais Re a Cayman Islands special purpose reinsurer.
Zurich Financial Services CFO joins Ernst and Young
Mick Summersgill has joined Ernst and Young today as a director in the recently created dedicated insurance run-off team.
LV= and Nationwide announce new insurance partnership
Mutual insurance and investment group LV= and Nationwide Building Society have announced a major new partnership.
Marsh granted Saudi Arabian licence
Marsh has finally been licensed to provide full insurance broking and advisory services in Saudi Arabia under the provision of the Insurance Law of 2003, following approval by the Saudi Arabian Monetary Agency.
FSA publishes final regulatory fees and levies for 2008/09
The Financial Services Authority (FSA) has published the final FSA fee rates and Financial Ombudsman Services (FOS) levies for 2008/09.
Chubb responds to Corporate Manslaughter Act
Chubb Insurance announces increased protection for companies facing heightened exposures as a result of the recently introduced Corporate Manslaughter Act.
Hill Dickinson announces promotions
Law firm Hill Dickinson has promoted Ruth Lawrence and Maria Pittordis to heads of practice.
Quanta to be acquired by Catalina for $197m
Bermudian reinsurer in run-off Quanta Capital announced today that it has entered into a definitive amalgamation agreement with Catalina Holdings (Bermuda) and Catalina Alpha Pursuant to the amalgamation agreement, Catalina will acquire Quanta in a…
Ironshore stalking Chaucer's Pembroke syndicate - source
Bermudian insurer Ironshore is stalking Chaucer-managed syndicate Pembroke, Reinsurance understands.
Aon appoints private clients MD
Ben Doveton has been appointed managing director of Aon private clients, the company’s high-net worth business.
Davies appoints two to the board
Loss adjuster Davies has appointed Iain Maclean to the operations board as director of project managed subsidence services. Nick Gazzard has also been appointed as associate director reporting to the board to head corporate governance for the entire…
Fraud prevention low priority for UK firms
Only 37% of private UK companies employ specialists to detect fraud, compared with a global average of 45% and 59% in the US, according to new research.
Adjuster moves into the black in 2007
Resources in Insurance Group has reported that its turnover increased 35% from £2.82m to £3.81m in 20076. Its pre tax profit improved from a loss of (£62 000 in 2006) to a profit of £120 000.