News
Miller promotes Collins to board level
Global broker Miller has announced that Greg Collins has been appointed as a board director of Miller Insurance Services.
Mi appoints new business development manager
Technology provider, Mi Limited, has appointed a new business development manager, Hameed Alkhersan, to further increase its presence within EC3.
Zurich group income up 74% in first quarter
Zurich has reported $1.4bn in net income, up 74% in the first quarter of 2007, an annualized return on shareholder equity of 23.5 percent, and a business operating profit of $1.7bn (£850m).
Kiln premiums increase from Europe and Far East
Lloyd's insurer Kiln has written £129 million of gross premiums for the period ended 31 March 2007, showing an increase of 9.3% compared with the same period in 2006; the increase is in part attributable to the flow of business the Group is beginning to…
FSA Speech - Principles-based regulation - moving from theory to practice
In a recent speech by Clive Briault, managing director, retail markets, FSA, at the ABI 2007 Conference, Mr. Briault covered four main areas under the above mentioned heading, 1) How a more principles-based approach should help the FSA to achieve their…
FSA announces progress made on TCF and sets further deadline
The Financial Services Authority (FSA) reported an increase in commitment by senior management to the principle of Treating Customers Fairly (TCF) but warned firms who have failed to engage that they face tough action.
Ironshore wins South Carolina excess and surplus licence
Bermudian start-up property insurer Ironshore has been approved to provide property and catastrophe insurance on an excess and surplus basis for risks located in the State of South Carolina.
FSA fines Charterhouse £122,500 for unauthorised portfolio management
The Financial Services Authority (FSA) has fined Charterhouse Consulting Wealth Management(Charterhouse) £122,500 for carrying out discretionary portfolio management without permission and for various conduct of business failings.
Medical insurers' stance on cancer drugs creates confusion
The concerns of cancer specialists about the cost to the NHS of new cancer drugs are replicated by those providing private medical insurance, according to Watson Wyatt.
Flagstone Re first to graduate with second A- rating
Class of 2005 Bermudian reinsurance start-up, Flagstone Re has announced that it has achieved A- Fitch Rating financial strength ratings.
100% coverage on costs within group policies for just 10% excess payment
MediCare International has introduced two benefits to its group schemes.
Talbot sale to Validus completed
Talbot Holdings has announced that agreement has been reached with Validus Holdings, on the terms of the sale of 100% of the share capital of Talbot.
Mystery bidder enters Alea race
The board of run-off reinsurance group Alea has received an unsolicited approach it said might lead to a higher offer for the Company than that made by FIN Acquisition Ltd last month. The approach is based solely on publicly available information.
Converium duo in $5.5m payoff if SCOR deal goes through
Swiss reinsurer Converium has revealed that it will pay its chief executive and chief finance officer a total of $5.5m (CHF 6.7m) in severance pay at the end of 2007 if its agreed acquisition by SCOR completes.
Collins takes Benfield trio for Philadelphia office
US reinsurance broker Collins has opened a new office in Philadelphia, with the hire of three brokers from rival Benfield.
Aon strengthens marine team
Aon's marine team has recruited a duo of cargo specialists, Kevin Brown and Tony Achinelli, to work alongside Paul White who was appointed head of the Americas liability team last month. Darren Carr has also been promoted to leader of ports &…
Liberty International opens in Spain
Liberty International Underwriters, has opened an office in Spain as part of its continental European growth strategy.
MMA shifts portfolio in favour of non motor
Intermediary-only insurer, MMA Insurance has reported a fourth year of financial growth. Last year its non motor portfolio grew to over 50% of Gross Written Premium a deliberate move designed to balance its portfolio.
Fortis reports GWP increase over Q1 2006
Fortis reported a strong start to 2007 with a 14% increase in GWP during its first quarter.
AIR poaches top Benfield ReMetrics scientist
Risk modelling firm AIR Worldwide Corporation (AIR) has announced that Dr. Milan Simic has been appointed managing director its London office.
Partner Re joins move to give capital back
In a move that confirms the trend to right-sizing capital as the reinsurance market softens, Bermudian reinsurer Partner Re has the approval an increase in the amount of shares it is authorised to buy back and cancel by a total of up to 5 million common…
Davies launches new loss unit
A dedicated Special and Complex Loss Unit has been established by Davies Chartered Loss Adjusters based in the firm's new premises in Guildford.
Synergy targets £50k-£1m target premiums with micro-captive launch
Synergy Insurance Services UK the new insurance venture led by City financier Sir Mark Weinberg, has announced the launch of Synergy MicroCaptive.
Markel promotes property underwriters
Markel International has promoted two members of its delegated authority property team. Michael James has been promoted to the position of senior underwriter, delegated property and Gareth Buxton has been promoted to senior underwriter, delegated…