News
Zurich signs BPO deal: Outsources work to Poland, China and India
Zurich Financial Services has appointed Capgemini on a multi-year framework agreement to manage its finance & accounting processes.
JLT's Expacare signs new underwriting deal
JLT subsidiary Expacare has appointed private medical insurer DKV as its principal underwriter. The partnership comes on the back of a period of investment in the business and further strengthening of the management team during 2005.
Swiss Re planning to cull 1700 workers following GE take-over
Swiss Re plans to cut up to 1,700 jobs following the acquisition of General Electric's GE Insurance Solutions unit in November, CEO designate Jacques Aigrain said.
Blanc quits Groupama to head up Towergate restructure
Amanda Blanc, distribution and customer service director at Groupama Insurances will be leaving the company on 1st March 2006 to take up the role of divisional managing director at Towergate Underwriting Group. Ms Blanc's appointment is part of a…
Footman James makes ops director appointment
Specialist insurance broker Footman James has announced the appointment of Clair Hayward as operations director. Haywood, who joined the company at the beginning of December, will bring a wealth of insurance expertise having worked as a key account…
Zurich subsidiary opens Europe offices
Zurich Financial Services Group (Zurich) has announced that Zurich Insurance Ireland Limited (ZIIL), an EU-wide risk carrier for Zurich Global Corporate business, has opened branches in France, Sweden and Finland in addition to its UK branch, which was…
Wholesale board changes at Converium
Converium has announced significant boardroom changes for its next AGM. As previously announced, chairman Peter Colombo will step down at the coming Annual General Meeting. Vice Chairman Georg Mehl as well as Board members George G.C. Parker and Anton K…
AM Best affirms Aspen and points to bumper 2006
Bermudian (re)insurer Aspen Insurance Limited (AIL) has been affirmed at a financial strength rating of A- (Excellent) and issuer credit rating of “a-” by AM Best . The agency has removed the ratings from under review with negative implications. The…
Crawford announces restructuring
Loss adjuster Crawford & Company has today announced an organisational change to consolidate its UK and CEMEA regions. Following the recent appointment of Jeff Bowman to the role of chief operating officer of Global Property & Casualty Services, Crawford…
SSP sets up new operating structure
Software house SSP has announced a new operating structure to take effect immediately. Following the acquisition of rival software company Sectornet in December, SSP will now opertate through four divisions - Intermediary Services, Corporate Broker,…
Painful 2006 could be ahead, claims Aon
Following unprecedented storm damage losses in the US, 2005 is believed to be the most costly year ever for insurers, with 2006 set to provide more of the same, according to Aon in its 2006 Risk Report, which assesses some of the major new and existing…
Benfield study sees renewal pressures
Last year’s unprecedented catastrophe losses had an uneven impact on pricing and capacity at 2006 reinsurance renewals, according to a new report published by Benfield.
Patients risk going uncompensated under new Government plans
Patients who successfully prove negligence are at risk of not receiving compensation awarded to them, if Department of Health plans for mandatory doctor’s indemnity are passed unaltered, according to the Medical Defence Union (MDU).
CFS creates new GI operation
Co-operative Financial Services this morning announced the creation of CIS General Insurance Ltd, which will insure all new and renewing Co-operative Insurance Society (CIS) motor, home and commercial products.
Contract certainty project leaders listed on forum
A contacts network of project managers responsible for driving contract certainty improvements in the London company reinsurance market has been set up by the International Underwriting Association.
German insurers looking for reinsurance fundamentals
The three principal drivers of reinsurance-buying decisions are price, a reinsurer’s financial rating and the types of coverage and exclusions offered, according to a study of the German insurance market sponsored by GE Insurance Solutions.
NIG picks Venus for regional role
NIG has appointed Tony Venus as regional manager of its London office who will assume immediate responsibility for achieving profitable development of NIG’s broker business within the region.
Goss re-brands branch offices
Goss Group has brought all the insurance broking and financial services companies under the Goss & Co banner.
Zurich calls off sale
Zurich Financial Services said itself and Hellman & Friedman have jointly agreed not to proceed with the sale of Zurich's wholly owned US-based Universal Underwriters Group, citing regulatory matters.
Quinn Direct to be title sponsor for British Masters Golf
The British Masters has unveiled Quinn Direct Insurance as its new title sponsor for an initial period of three years and renames the event The Quinn Direct British Masters.
XL Re America appoints new COO
XL Reinsurance America has appointed John Welch, as president and chief operating officer. He will report to James H. Veghte, chairman and chief executive officer of XLRA, and chief executive of XL’s reinsurance general operations. Mr. Welch will also…
AIG close to settling Spitzer affair, claims WSJ
American International Group (AIG) may pay up to $1.5bn to settle civil investigations by state and federal authorities into an accounting scandal, according to The Wall Street Journal, which has cited unnamed sources close to the affair.
New insurance service for P&O Travel
Endsleigh has joined forces with P&O Travel to launch a new travel insurance offering. The new partnership gives P&O Travel clients access to a complete travel insurance service, offering a range of Endsleigh travel insurance products and a specialist…
Broker Network profits up 97%
The Broker Network has announced a 97% rise in operating profits before taxation and amortisation, to £1.5m, for the six month period up to 31 October 2005. In addition, turnover has increased by 56% to £5,852,000, while the group operating margin before…