News
Who is right - the hedge funds or the professionals?
Professional reinsurers are handing capital back to shareholders, yet alternative capital is flowing in to take its place. Mark Geoghegan wonders what's going on
Finite reinsurance ... and Florida subpoenas 17 more
Florida insurance regulation commissioner Kevin McCarty has subpoenaed 17 reinsurance companies in o...
AIG facing further trouble
American International Group (AIG) is facing a class-action lawsuit that alleges the insurer led emp...
Reinsurance contracts - Converium and Munich Re subpoenaed over MBIA contracts
Munich Re and Converium have confirmed that they had been subpoenaed by US authorities in a...
EU heats up collateral battle
The European Union plans to up the ante in its fight against the US to release the estimated $50bn t...
Munich Re releases Q1 2005 figures
Munich Re has announced that its first quarter figures for 2005 have placed it on course with a quar...
Why on earth is the Directors and Officers market so soft?
With shareholder class actions flying around the US, new regulations completely untested and boardrooms running scared the world over, Mark Geoghegan thinks it's amazing a Directors and Officers (D&O) market exists at all, let alone an extremely soft one
Converium's Q1 results slump
A heavily discounted commutation, combined with a large winter storm loss, helped Converium slump to...
Moody's upgrades Hannover Re
Moody's Investors Service has upgraded the insurance financial strength rating (IFSR) of Hannover Re...
Spitzer widens AIG compensation probe
New York attorney general Eliot Spitzer and insurance superintendent Howard Mills have announced the...
Genworth Financial subpoenaed by SEC
Genworth Financial has said that it received a subpoena from the United States Securities and Exchan...
Grant Thornton makes non-life push with ex-E&Y team
Grant Thornton has appointed two new partners, a director, and five other professionals in its financial markets group.
AIG files delayed 10-K
American International Group (AIG) has finally filed its 2004 Annual Report on Form 10-K with the Securities and Exchange Commission, after repeated delays.
S&P upgrades after rating policy changes
Standard & Poor's (S&P) has upgraded the credit ratings for seven insurance holding companies, citing a change in its rating policies.
Advent float set for Friday
Advent Capital shares will commence trading on the Alternative Investment Market on Friday 3 June 2005 after the Lloyd's insurer raised £65m.
D&G growth continues
Warranty specialist Domestic and General Group has announced turnover in its core lines grew by 8.9% to £220.7 million, in the 12 months to 31 March 2005.
BPS closure blamed on client fund handling
The Financial Services Authority has pointed to deficiencies in the client money accounts of broker BPS Insure Limited - after it banned the firm from trading and placed it in administration.
Misys Countrywide Network targets new members
Misys Countrywide has announced plans to expand its membership base in response to brokers' renewed interest in trading via a network post-January 2005.
BPS Insure appoints administrators
General insurance brokerage BPS Insure has today appointed administrators from insolvency practitioners Begbies Traynor following a decision by the Financial Services Authority (FSA) on 5 May to withdraw its permission to sell new policies.
Heath Lambert claims to be out of the woods
Heath Lambert Group has completed the "final stage of its financial restructuring" and attracted "significant" additional capital from new investors, including two of its existing banks, Royal Bank of Scotland and Credit Suisse First Boston.
Harris steps in at Groupama
Groupama Insurance has appointed Lynn Harris as proposition development manager.
RWA sets up London Market Solutions
Regulatory compliance specialist RWA Group has established a new company to provide coverholder audits and other technical support to both insurers and Lloyds Syndicates.
First Assist wins after-the-event court case
FirstAssist, the After-the-Event (ATE) Insurance specialist has won its ATE test case against Norwich Union and other defendants.
FSA announces broker fees
The FSA today published the final Financial Services Authority fees and the Financial Ombudsman Service levies for 2005/06. In addition, the FSA has announced a review of the funding regime.