News
Lloyd's donates £75 000 in Remembrance
Lloyd’s marked Remembrance Day today by hosting its annual Wreath Laying Ceremony in the Lloyd’s Underwriting Room. The Lutine Bell was rung and underwriters, brokers and staff at Lloyd’s observed a two-minute silence.
Fitch affirms Hannover Re ratings
Fitch Ratings has affirmed Hannover Re’s and E+S Rueckversicherung AG's Insurer Financial Strength (IFS) ratings of 'A+'. At the same time, Fitch has affirmed Hannover Re's Long-term rating of 'A+'. The Outlook on these ratings is Stable.
Misys develops premium finance solution
Misys has joined forces with Close Premium Finance to develop a fully integrated solution that will make arranging premium finance easier for brokers.
Aon MD gets Cass role
Alan Punter, managing director at Aon has been appointed a visiting professor in insurance and risk management at the Cass Business School. The award recognises Dr Punter’s past contribution to the school’s teaching and his standing within the insurance…
Moody’s lowers Montpelier Re’s ratings
Moody's Investors Service has announced that it has lowered the credit ratings of Montpelier Reinsurance Holdings (senior debt to Baa3 from Baa2), and the insurance financial strength rating of Montpelier Reinsurance to Baa1 from A3. These rating actions…
Crawford’s handles major university fire loss
Crawford & Company, an independent provider of claims management solutions, is handling a major loss claim at the University of Southampton after a serious fire broke out in one of the research units in the University’s Mountbatten Building on the…
Chicken farmers can lay off risk
Broker Heath Lambert is offering poultry growers cover against avian flu. The broker’s specialist London Market operation, FSJ, has a facility that provides all risks of mortality cover, which can be extended to cover the financial consequences of an…
AM Best still negative on RSA despite encouraging earnings
A.M. Best has commented that all ratings of Royal & Sun Alliance Insurance Group and its main subsidiaries are unchanged by the third quarter 2005 reported earnings as they were in line with its expectations. The outlook on all ratings remains negative.
Chubb Europe makes Scandinavian expansion move
Chubb Insurance Company of Europe has opened its first office in Norway.
Adjuster launches liability division
Loss adjuster FitzGerald Consulting has formed a new liability division which will be managed by existing directors Alan Speyer and Alex Murray.
Q3 2005 P/C losses hit record levels
Pummelled by Hurricane Katrina and six other natural catastrophes in the third quarter, US property/casualty insurers paid an all-time record $40.8bn to homeowners and businesses for insured property losses in 14 states, according to preliminary…
Wilma hits Platinum for $135m
Bermudian reinsurer, Platinum Underwriters Holdings has unveiled an initial preliminary loss estimate of approximately $135m from Hurricane Wilma. The estimate is net of reinstatement premiums, tax benefits and retrocessional recoveries.
PXRE estimates $75-$90m Wilma loss
Bermudian reinsurer PXRE Group has announced that its preliminary estimate of the net impact from Hurricane Wilma is between $75m and $90m, net of reinsurance, reinstatement premiums and tax. The Company's loss estimate assumes that the insured industry…
Hannover Re still in profit despite huge Q3 reserves
German reinsurer Hannover Re posted third quarter net income down 67.6% to €61.9m after facing up to net expenditure on major losses of €781.4m in the third quarter. The results were buoyed by a strong showing in the Life and Health books.
RSA reports UK improvement
Royal and Sun Alliance this morning reported a pofit after tax of £378m (2004 : £8) on net written premiums of £4.1bn (2004 : £3.7bn)for the first nine months of 2005. It added the combined operating ratio (COR) of 93.1% (2004 : 94.2%) for ongoing…
Charles Taylor acquires run-off specialist LCL group
Charles Taylor Consulting has purchased the LCL Group Limited and LCL Acquisitions Limited.
Compliance increases wage bills
The headcount and wage bills in the finance sector are increasing in the areas of compliance and gov...
Time to test yourself
A selection of questions from various past-CII qualification papers
Legal presentation
Law firm Keoghs has been rewarded for its commitment to its staff at the North West National Trainin...
FSSC successful in academy bid
The Financial Services Skills Council has been successful in its bid to create a National Financial ...
Forcing ideas unlikely to be rewarding
Management initiatives to force ideas for new products and services are unlikely to reap rewards, ac...
Bermuda is "creaking"
Robert Hiscox has told Post Magazine Bermuda is "creaking at the seams" with the number of reinsurer...
Paving ban mooted to stem flood risk
The London Assembly is stepping up its efforts to ban homeowners from paving their front gardens, in...
Appointment at Institute of Actuaries
The Institute of Actuaries has announced that Nick Dumbreck will be its next president. Mr Dumbreck,...