News
Fitch and AM Best downgrade XL, citing poor ERM
Bermudian (re)insurer XL has seen its insurer financial strength ratings downgraded by both Fitch and AM Best.
Highway re-enters market after manager appointment
Highway is to re-enter the hire and reward market during 2008 following the appointment of Nick Watkinson as its new hire and reward underwriting manager.
London market insurer appoints new claims head
Liberty International Underwriters, the subsidiary of Liberty Mutual Group, has appointed John McCammon to manage its European claims operations. As head of claims, McCammon will be responsible for claims across all product lines.
Reid: new role followed an "inclusive decision"
Stuart Reid, the new sole chief executive of Venture Preference, said that the departures of former fellow chief executives of Paul Meehan and Chris Blackham followed an "inclusive decision".
Markel announces results
Markel International has reported positive results, with a combined ratio of 93% for the year ended 31 December 2007, compared to 100% in 2006.
Blackham and Meehan depart VP
Two chief executives of Venture Preference Chris Blackham, former chief executive of Layton Blackham, and Paul Meehan, former chief executive of Smart and Cook, have both left Venture Preference with immediate effect. The remaining chief executive of VP…
Blackham and Meehan leave Venture Preference
Stuart Reid has been appointed sole CEO of Venture Preference with immediate effect. Paul Meehan and Chris Blackham, formerly joint CEOs, are leaving the company.
Marsh hits the road on claims
Marsh is undertaking a series of briefings around the UK next month on claims management for financial institutions and professional services firms. The briefings will highlight how insureds can secure the best return from their policies.
Swiss Re joins Deutsche Bank as IFEX market maker
Insurance futures exchange IFEX has announced that Swiss Re Capital Markets will make markets in the US tropical wind event linked futures contracts listed on the Chicago Climate Futures Exchange.
Fitch: SCA loses AAA rating, still on negative watch
Ratings agency Fitch has downgraded the insurer financial strength ratings on 46% XL-owned Security Capital Assurance (SCA) and subsidiaries, XL Capital Assurance (XLCA), XL Capital Assurance (U.K.) (XLCA-UK) and XL Financial Assurance (XLFA)to 'A' from …
Broker Direct stunned by death of Andrew Paddick
Commenting on the tragic news of the death of its chairman, Andrew Paddick, Broker Direct chief executive Roy Green said: "It was with the utmost sadness that we heard of Andrew's sudden death. Our thoughts are firmly with his family and all those who…
THB completes PWS swoop
THB has announced the successful conclusion of its acquisition of the Lloyd’s broking business of PWS International and certain overseas interests of the PWS group.
Cobra extends insurer panel
Cobra Network has announced that Zurich has agreed to extend the scope of products available to its members.
Biba saddened by Andrew Paddick's death
British Insurance Brokers' Association chairman Derek Thornton has expressed his sadness at the passing of Andrew Paddick.
CGT reform announced
The government has announced the details of its capital gains tax reform - upholding its decision to set a single rate of 18% and abolish taper relief from April.
Andrew Paddick passes away
It is with great regret that the Institute of Insurance Brokers has announced the sudden death of Andrew Paddick, its director general, earlier today.
THB - PWS deal back on
THB Group has revealed that its acquisition of PWS is back on, after legal issues were resolved between the two parties.
Darling set to reveal CGT reforms
Alistair Darling is expected to announce his proposals to reform capital gains tax later today – three months after revealing plans to impose a single 18% rate from 6 April.
XL to take $1.5bn credit crunch charge in fourth quarter
Bermudian (re)insurer XL Capital has today announced that it expects to record net income for the full-year 2007 of $200m to $400m and a net loss in the fourth quarter of $1.0bn to $1.2bn.
Beazley expands political risk team
Beazley Group has expanded its political risks team, appointing Crispin Hodges to spearhead the growth of its business in Singapore.
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UKIM wins contract
Durham-based medico-legal agency UK Independent Medical has been awarded the Nursing and Midwifery C...
Aon appoints new chief
Aon has appointed Robert Brown as chief executive of its corporate division. He replaces John Thornt...