News
JLT defectors have to wait 12 months
Three senior executives who defected to Aon from Jardine Lloyd Thompson's industry risks division wi...
Fraud fight
The Irish insurance industry has launched a mass-media anti-fraud campaign, including the above TV a...
Arch to raise another $125m
Bermudian (re)insurer Arch is to raise $125m via an underwritten public offering of preferred stock.
CMIB boss to stay at NFU Mutual
CMIB managing director Neil McKenzie is set to stay at NFU Mutual and not transfer with the broking business to Towergate.
SVB Holdings to become Novae tomorrow
SVB today said the High Court had made an order sanctioning the scheme of arrangement dated 28 March 2006 between SVB and the holders of its scheme shares confirming both the reduction of capital provided for by the scheme and the cancellation of the SVB…
NFU Mutual to redeploy staff after selling broker arm to Towergate
NFU Mutual today confirmed the sale of Country Mutual Insurance Brokers to the Towergate Partnership.
Towergate seals CMIB deal
Towergate has bought Country Mutual Insurance Brokers from NFU Mutual. The deal was finally sealed late last night.
PICC licenses AIR’s cat modeling for earthquake risk in China
AIR Worldwide Corporation (AIR) has announced that PICC Property and Casualty Company (PICC) has licensed CLASIC/2 and CATRADER, AIR’s catastrophe risk management systems, to manage earthquake risk to residential, commercial, and industrial exposures in…
Scor comes out blazing in 1st quarter
French reinsurer Scor has revealed blistering 1st-quarter growth and increased profits, boosted by increased non-life premium income and higher investment returns.
Nigel Forrest takes on Birmingham Institute presidency
The Birmingham Insurance Institute BII held its AGM recently and inaugurated a new president, Mr Nigel Forrest of Teceris.
TUC welcomes talks to speed up asbestos compensation
The TUC has welcomed the announcement from Work and Pensions Secretary John Hutton MP that he is to look at ways of speeding up compensation for mesothelioma victims and their families.
Imagine names President and CEO
Specialist Bermuda-headquartered (re)insurer, Imagine Group has announced the appointment of Gregory Morrison as its president and chief executive officer, pending approval of the Bermuda Department of Immigration.
Lancashire happy despite missing plan income target
Class of 2005 Bermudian start-up, Lancashire, has reported favourable underwriting conditions in across most of its chosen specialist short-tail business segments, although it said will undershoot on the income projections it produced at the time of its…
Chanchu weakens
Typhoon Chanchu has been downgraded to a category two hurricane and is no longer in danger of hitting Hong Kong.
Oval restructures its divisions
Broking consolidator Oval has abolished its separate insurance broking and financial services operating boards, and appointed its first ever group managing director, who will be in charge of both divisions.
Teceris partner joins Hamilton Bond
Robert Binning, partner for Teceris West Midlands, is to join Hamilton Bond, claims consultants and chartered loss adjusters.
Record turnover for law firm Weightmans
Insurance specialist law firm Weightmans has announced record turnover of £37.5 million for the 2005 / 2006 financial year.
System failures drop in London Market says survey
The number of computer system failures suffered by London Market insurers has fallen significantly in the last 12 months, according to a survey by the International Underwriting Association.
Beazley appoints group analyst
Beazley Group has announced the appointment of Ian Hoy as group analyst, working closely with Beazley’s senior executive team in the development of strategic initiatives across Beazley’s international network.
Alexander Forbes sponsors Global Challenge yacht race
Alexander Forbes’s Marine department has become a sponsor of the Global Challenge 2008/9, the gruelling round-the-world yacht race. The brainchild of former solo round-the-world yachtsman Sir Chay Blyth, the race involves 12 identical boats sailing…
Fitch still negative on troubled PXRE
Fitch Ratings has said that its existing ratings of Bermudian reinsurer PXRE will remain on rating watch negative following several recent announcements by the reinsurer.
Biba recommends new Toba wording for commission disclosure
The British Insurance Brokers’ Association has urged its members to adopt a new wording in their Terms of Business Arrangements with commercial customers to remind them they have the right to request details of the brokers' commission.
Anti-fraud TV campaign launched by Irish insurers
The Irish Insurance Federation has launched a new phase in its insurance fraud campaign, with a TV advertising campaign and the roll out of new technology to enable insurers to check claimants’ insurance claims history.
Allianz Cornhill profits fall and combined ratio rises
Allianz Cornhill's first quarter results have seen its profits fall to £48.7m (2005: £50.5m) as its combined ratio rose to 96.6% (2005: 94.7%).