News
AM Best denies Lloyd’s rating upgrade
A.M. Best will not upgrade Lloyd’s rating even though it believes the Berkshire Hathaway and Equitas transaction will substantially reduce long term uncertainty relating to the latters reserve development
Fitch plans to upgrade Lloyd’s rating
Fitch has revealed it is likely to upgrade Lloyd’s rating one notch once phase one of the Berkshire Hathaway and Equitas deal is complete.
Olympic Delivery Authority officially announces JLT contract
The Olympic Delivery Authority has today officially appointed Jardine Lloyd Thompson as insurance broker for the delivery of venues and infrastructure connected with the London 2012 Olympic Games and Paralympic Games, and for post-Games legacy conversion.
Hiscox acquires Global Flying Insurance Services
Hiscox has acquired the Lloyd’s business of Global Flying Insurance Services (GFIS) from Lloyd’s broker Besso.
Allianz launches full service cargo insurance platform.
Allianz Global Corporate & Specialty is launching an online policy quotation, inception and renewal tool for the cargo insurance market.
Lloyd's welcomes landmark Equitas deal
Lloyd’s today welcomed the announcement of a transaction between Equitas and Berkshire Hathaway Inc. Once completed this will end the residual legal liabilities of Lloyd’s and bring finality to Names reinsured by Equitas.
Lloyd's outlook jumps following Equitas sale
Lloyd’s outlook has shot up to ‘positive’ following Equitas group’s sale to National Indemnity
Stunning Berkshire Hathaway Equitas buy-out to bring finality to names
Berkshire Hathaway announced today that it has reached an agreement in principle on a structure in which National Indemnity Company, a member of the Berkshire Hathaway group of insurance companies, will reinsure all Equitas' liabilities and provide up to…
KBW looks at what-ifs for Willis-Marsh merger
With recent news reports that Willis Group Holdings and Kohlberg Kravis Roberts made an offer to acquire MMC, Keefe Bruyette and Woods (KBW) has speculated on the possibility of the combination and the creation of a new company: The Marsh Willis…
Chippendale set to retire from RBSI
Ian Chippendale, non-executive chairman of Royal Bank of Scotland Insurance is set to retire at the end of this year after more than 10 years with Privilege, Direct Line and RBS Insurance.
Thompsons offers funding to claimants for clinical negligence claims
Thompsons Solicitors has introduced a new funding aspect to its Clinical Negligence Service in a bid to provide claimants with easier access to justice. It follows the curtailment of legal aid and the need to help claimants who might otherwise be put off…
Insurer disagrees with rating agency decision
Catlin Group has announced it surprise at A.M. Best decision to place its financial strength and issuer credit ratings under review with negative implications.
Axa UK now considered 'core' part of group says S&P
Axa has this week received a rating upgrade which it said reflected Standard & Poor’s view that the insurer is set to meet the group’s profitability targets and maintain its capital adequacy in line with the new ranking.
Insurers in new climate change warning
Insurers may need to exclude climate change related claims from their policies to protect themselves against politically motivated lawsuits being launched against their insureds, Reynolds Porter Chamberlain LLP claimed today.
Fitch rates Converium following Berkshire Hathaway deal
Fitch Ratings has placed Converium's Insurer Financial Strength 'BBB-' (BBB minus) rating on Rating Watch Positive (RWP).
Alexander Forbes non UK arm receives bid offer
A consortium of private equity investors is attempting to buy the non UK arm of Alexander Forbes.
ABI responds to FSA investigation
Improvements to payment protection insurance are giving customers a better deal the Association of British Insurers said today.
Lloyd's approves new syndicate
Hardy Underwriting has now received approval from Lloyd’s to establish a new syndicate, (3820), writes Jordan Fletcher-Dale
FSA report condemns PPI sales tactics
Payment protection insurance sellers are still failing to treat their customers fairly, an FSA review has concluded.
OFT to refer the PPI market to the Competition Commission
The Office of Fair Trading has today said it will refer the UK payment protection insurance market to the Competition Commission. It has published its analysis of the market for consultation prior to a final decision early next year.
Some PPI sellers still not treating customers fairly says FSA report
Some firms selling payment protection insurance (PPI) are still failing to treat their customers fairly, an Financial Services Authority (FSA) review has concluded.
HBOS General Insurance launches into the broker market with AA
HBOS General Insurance today announced that it has become the newest member of the AA's household insurance panel. The move represents the first broker insurer relationship for HBOS General Insurance and will further strengthen HBOS's existing…
Swiss Re claims victory on WTC court case
Swiss Re has issued a statement in connection with the decision by the United States Court of Appeals for the Second Circuit upholding the jury verdict in favor of Swiss Re in the case of SR International Business Insurance Company Ltd. versus World…
Through luck and determination
Stuart Rouse, financial director of Towergate Underwriting, speaks to Tanya Powley about his rise through the ranks and why he chose insurance over the 'big four'