News
London market broker chief resigns
BMS today announced the resignation of John Spencer from his position of group chief executive of BMS Associates.
Product recalls hit new high
The number of product recalls in the UK has hit a new high of 190 in the last year (up from 179 in the previous year) as problems with products sourced from China mounted, according to law firm Reynolds Porter Chamberlain.
Guy Carp to open in Prague
Reinsurance broker Guy Carpenter has announced that it will be opening an office in Prague on 1 March 2008,. The new office will be part of Guy Carpenter's Central and Eastern European broking operations and will service clients in the Czech and Slovak…
Aon boosts electronic trading
Aon has completed as much as 80% of its 1/1 treaty reinsurance renewal placements electronically in December.
Gen Re execs worried about AIG's accounting while hatching finite Re deal
HARTFORD, Conn. January 11 (BestWire) — At the headquarters of General Reinsurance Corp., in Stamford, Conn., Richard Napier and a handful of key executives were frustrated. Maurice "Hank" Greenberg wanted a response within weeks, but they weren’t sure…
Underwriting agency boasts most comprehensive list of trades in the market
Ink Underwriting Agencies has launched a new product, Capita Plus specifically created to cover a wide range of trades and professions, including many high risk trades, such as roofing and scaffolding.
Adjuster wins solus claims deal
Loss adjusting group AMG has been selected by 3XD as its sole property claims adjusting provider. It is the first time that 3XD – a specialist insurance provider to intermediaries – has appointed an adjusting firm to handle its property claims.
Home and Legacy launch new Let product
Home and Legacy has launched a new let product for brokers – a scheme offering cover through intermediaries for let properties.
Erinaceous confirms it may sell insurance business after "significant" interest
Property giant Erinaceous has confirmed that it may sell its insurance division, Erinaceous Insurance Services.
Highway launches Choice Home to CDL brokers
Broker-only insurer Highway Insurance has launched a new home insurance product following a successful pilot during which over 6,000 policies were sold. The product will be available via CDL with immediate effect.
Chubb launches warranty-free commercial package product
Chubb Insurance has launched its new MasterPackage commercial policy designed to address the commercial insurance needs of customers in one contract. Chubb has made more than 50 improvements to its existing product.
Oxygen targets employee benefit business with new facility
Oxygen Insurance Managers (Oxygen), the London intermediary’s managing general agency operation, has launched a corporate personal accident and travel insurance facility that plans to target corporate employee benefits business.
Home and Legacy launches let product
Home and Legacy has launched a new let product – a scheme offering cover through intermediaries for let properties.
Broking giant outsources 650 jobs
The Capita Group Plc has been selected by Marsh as preferred partner to transform and deliver Marsh's services, based in Norwich in a move that impacts 650 jobs.
Oxygen launches employee benefits business
Oxygen Insurance Managers has launched a corporate personal accident and travel insurance facility that plans to target corporate employee benefits business.
Endurance in capital markets push with new hire
Bermudian (re)insurer Endurance has announced the appointment of Win Hotchkiss to Endurance Worldwide Reinsurance as senior vice president for capital markets to spearhead an initiative to evaluate and drive alternative capital markets solutions on a…
Randall & Quilter receives Bermudian approval
Randall & Quilter has received approval from the Bermuda Monetary Authority for the registration of a Bermudan class 3 reinsurer R & Q Re (Bermuda).
Lockton Re to offer treaty in the US
Lockton Re’s team in London will offer all classes of treaty reinsurance in the US for the first time with the appointment of Adam Sayers, head of US reinsurance, and director Mark Trumper.
RK Harrison makes senior appointments in new division
Independent broking group R K Harrison has unveiled Mark Playle and Darren Marshall as joint principals of its new construction division.
Miller takes GCFac duo for new fac reinsurance team
Richard Court has joined London-based international broker Miller to lead a new facultative reinsurance team with Robert Doust. Both Richard and Robert have joined Miller from Guy Carpenter (GCFac).
Kiln extends underwriting reach
R J Kiln & Co (Kiln) have announced the acquisition of International Marine (Underwriting Agency), adding to its international network of marine cargo specialist businesses.
Kiln acquires marine specialist
Kiln has announced the acquisition of International Marine – adding to its international network of marine cargo specialist business.
Insurancebookers enters European market
Insurancebookers has completed the launch of its expansion programme into six further European territories.
Salaries up in 2007, says Watson Wyatt
Salaries in the UK financial services sector rose by a median 4.2% in 2007 though this masks wide variations, especially when total cash payments are considered.