News
Bahrain given clean bill of health in IMF Report
The International Monetary Fund (IMF) has published a positive financial sector assessment programme (‘FSAP’) review of the Kingdom of Bahrain.
Larry hits NE Australia
North east Australia has been hit by Tropical Cyclone Larry , which has caused widespread devastation.
AM Best puts Odyssey on negative review after 10-K delay
AM Best has placed the financial strength rating and the issuer credit and debt ratings of the operating subsidiaries of global reinsurer Odyssey Re under review with negative implications following the company's announcement that it will delay the…
NIG appointments signal completion of senior team
NIG has completed the line-up of its new look senior management team this week with two further appointements. Steve Kingshott, formerly Royal and SunAlliance’s Underwriting Director of Commercial Packages, joins as director of underwriting and pricing,…
Appointment at Claim Watch
ClaimWatch has appointed Gary Brench, formerly MMA Insurance's chief engineer, to support its work with the insurance industry. Mr Brench joined ClaimWatch on March 1st and is focussing on introducing more insurers and repair networks to the benefits of…
Aviva target confident of independence
Aviva target Prudential has issued a statement reiterating its desire to remain independent.
Aviva spurned in UK global powerhouse bid
The much touted tie-up between UK insurance giants Aviva and Prudential saw the former's written proposal rejected by the Board of Prudential over the weekend. However, the Board of Aviva said today the issue was now open to Prudential's shareholders to…
Securtias raid reward record for insurance loss
The £2 million reward put up by Securitas and insurers led by Ascot Underwriting to help police capture robbers of the Tonbridge cash depot is believed to be a record for an insurance related loss, the insurer has said.
PBS Scotland appoints commercial underwriter
Primary Broker Services has today announced the expansion of its Scottish underwriting team with the appointment of Roy Evans as commercial underwriter.
Allianz Cornhill profits fall & combined ratio rises
Allianz Cornhill's 2005 profits fell to £206.4m (2004: £210.6m) while its combined ratio rose to 94.9% (2004: 94%), its financial results reported.
Insurer giants in merger talks
Shares of Zurich Financial Services AG, the biggest Swiss insurer, jumped as much as 12% after the Wall Street Journal reported St Paul Travellers may buy the company.
Claims handling: Positive picture from general insurers says FSA
Most general insurance firms are handling claims well, a review carried out by the Financial Services Authority has found. The review unveiled exclusively at this morning Post Magazine Claims Club also identified some areas for firms to consider in their…
GuyCarp poaches Benfield exec for Australasian operations
Guy Carpenter has announced the appointment of Ray Carless as executive chairman of its Australia, New Zealand and Pacific operations, effective March 27. He will be based in Sydney and will report to Martin Burrough, CEO of the Asia Pacific Region.
CEA welcomes EU flood directive
Comité Européen des Assurances has welcomed the European Commission’s proposal for a directive on the assessment and management of floods. By aiming to help Member States to prevent and limit the consequences of floods, the proposed directive addresses…
Premium Credit prolongs Biba account
Premium Credit, has secured a further three-year deal with the British Insurance Brokers’ Association confirming it as preferred provider.
Mayor puts demand for homes before the environment
Environmental standards are being undermined by the need to meet demands for homes in London according to new research published today by the London Assembly.
Chaucer profits down £20m
Lloyd's insurer Chaucer Holdings has announced 2005 pre tax profit of £11.9m, down from £33.0m in 2004, blaming its hurricane season losses of £68.5m.
RSA shares jump on bid rumour
Shares in UK-based insurer Royal and Sun Alliance rose by just over 7% this afternoon - hitting just over 141p each - before falling back slightly, on the back of renewed market speculation that the company could be a takeover target.
Fortis works to help CII speak out
Fortis Insurance is sponsoring a Chartered Insurance Institute local institute training initiative to help incoming presidents of the CII be better public speakers.
FSA fines Capita £300 000 on fraud charge
The FSA has fined Capita Financial Administrators Limited (CFA), a third party administrator of collective investment schemes, £300,000 for poor anti-fraud controls over client identities and accounts. The matters set out in this notice refer to the…
New motor claims boss at RSA
Royal & SunAlliance has announced the appointment of Ian Thompson to the newly created role of head of motor operations – claims services. Ian will begin his role on 3 April, having worked for R&SA for the last 12 years in a variety of global and UK…
Fortis profits up 22%
Fortis UK has reported 2005 pre-tax profits increasing by 22% to £66.4 million; the figures include over-50s insurer RIAS and affinity provider OutRight.
PMA launches work rehabilitation service
PMA has established a rehabilitation service with Independent Case Management Consultancy (ICMC) to offer a rehabilitation and get-you-back to work service branded Fit2Work. It will initially be provided to the Payment Protection claims sector of the…
Impact appoints new A&H underwriter
Impact Underwriting has announced the appointment of Katherine Newberry as accident and health underwriter.