News
LMA reply to Richard Ward over contract certainty
The LMA has endorsed the Lloyd's chief executives proposals to implement a new approach to the contract documentation process.
Aon says port premiums bounce after 05 Cat losses
Aon Marine has reported that property premiums have increased on average by at least 40% for global ports and terminals in the wake of last year’s Hurricane season, particularly those operating in catastrophe prone areas.
Max re confirms Nasdaq de-listing notice
Bermudian reinsurer Max re has confirmed that last week it received notice from Nasdaq that its securities are subject to delisting from the Nasdaq National Market.
Axis appoints global insurance president
Bermudian (re)insurer Axis Capital has promoted Richard Housley, currently European division president of AXIS Insurance, to president of Axis global insurance.
Churchill founder Long backs new SME insurer
Churchill founder Martin Long has made his long expected return to the general insurance underwriting arena as chairman of a new SME underwriting start up, M4 Underwriting.
Converium on the mend in 1Q despite 13% premium fall
European reinsurer Converium continued its steady recovery, posting a combined ratio of 94.8% and income of $71.1m on gross written premiums of $655.3m for the first quarter of 2006. The firm also increased shareholders’ equity and posted annualised…
Rehab: medical advisory board to set benchmark
A medical advisory board is to set an industry benchmark for the delivery of rehabilitation services for personal injury cases.
Converium appoints new CRO
Cpnverium has appointed Markus Krall as chief risk officer and member of the Company's Global Executive Committee with effect July 1, 2006. MArcus replaces Hans-Peter Boller.
Budget implements new systems management
Broker Budget Insurance Services has installed new systems management software to support the growth in its online business.
New Lloyd's CEO outlines market shake up
Lloyd’s new chief executive Richard Ward today outlined his first major proposal to update the market since taking over.
New web register anticipates October's fire reform order
The National Risk Assessment Register set up in anticipation of major changes to fire regulations through The Regulatory Reform (Fire Safety) Order which will come into force on 1 October this year, was officially launched at Portcullis House, Houses of…
Windsor profit and income increases
Broker Windsor has reported its pre-tax profits increased by 3% to £1.75m (2005: £1.7m) over the six months up to 31 March 2006.
Aon appoints chief operating officer
Aon has appointed Howard Manton as chief operating officer for its trade credit global practice group, which is responsible for insurance protection against bad debt arising from insolvency.
Swiss Re-GEIS escapes Moody’s downgrade, but negative stance stays
Moody's has confirmed the Aa2 insurance financial strength and senior debt ratings of Swiss Re as well as its A1 subordinated debt rating.
Fortis pushes up revenues by 15%
Fortis Insurance has increased its overall gross written premium to £164.3m for the first quarter of 2006, representing a 15% increase year-on-year (2005 Q1: £142.5).
Brit appoints new FD
Brit Insurance has appointed Richard Coulthwaite to the newly-created post of finance director, underwriting. He joined the company in April and will report to group finance director.
Lucas Fettes doubles Manchester team
Broker Lucas Fettes has doubled its Manchester financial services team as part of its planned growth strategy.
Pavilion signs deal with British Cycling Federation
Pavilion Insurance has signed a three year deal with the British Cycling Federation to provide a range of cycling insurance solutions for their members. The product will be marketed under the BC Insurance banner, and will be delivered via a new dedicated…
Duperreault to retire as chairman of Ace
Ace has announced that Brian Duperreault, chairman of the Board, will retire from the company, effective June 1. Mr Duperreault will continue to serve Ace in the role of non-executive chairman of the Board of Directors.
Marsh appoints senior adviser
Marsh has appointed Jeremy Cooke as managing director and senior adviser within its London offices. He will work on specific placement issues and manage relationships within the London marketplace as well as being responsible for streamlining business…
Former RBSI head close to raising finance for new insurer
John O'Roarke, former chief operating officer of Royal Bank of Scotland Insurance is close to sealing a finance deal worth £84m to launch a new multi-channel insurer, and has entered final talks with “less than five” backers, writes Anthony Gould. A deal…
Ace joins Imarket
Ace Europe is to join Imarket, the UK insurance industry portal.
New call centre for insurance supplier
TG21, the parent company of TOAD has just completed a £1/2 million upgrade of its London call centre. The new one hundred-seat facility was needed due to the continued expansion of the business.
JLT to expand into China’s insurance market
Jardine Lloyd Thompson today has commenced operations as an insurance and reinsurance broker across China through its new majority owned joint venture with Guangdong Ricsson Enterprises.