News
Former AIG executive accused of misleading regulators
A former American International Group (AIG) executive misled state insurance regulators early this year, according to the Wall Street Journal.
Pricing is key say Lloyd’s underwriters
Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations, according to new research by Lloyd’s.
Levene commends decisive market action
Lloyd’s Chairman Lord Levene has outlined a four-point plan to restore confidence in the insurance industry.
Allianz Cornhill calls for re-think on property risk
Allianz Cornhill today claimed that the insurance industry is finding it increasingly difficult to assess the true risk to commercial and personal lines property owners due to the ever widening extremes of the weather in the UK.
MMA profits top £21m
Intermediary-only insurer MMA Insurance plc has registered another record year of performance, the best in its history, with profits exceeding £21.6m.
SSP enables single log-on access to imarket
Software Solutions Partners (SSP) has received imarket security infrastructure sign-off.
Regency Group rebranded Homeserve
Insurance and warranty scheme provider, The Regency Group is changing its name to fall in line with the overall brand image of its parent company, Homeserve.
Heath Lambert launches new look Property Portfolio team
Heath Lambert Group has relaunched its Property Portfolio division, following the resignation of the division's managing director and a team of people leaving to join a rival broker.
CBS to set up new Lloyd's fund
CBS Private Capital Limited, a member agency within Lloyd’s of London, will set up a private investor fund focused on the Lloyd’s market over the summer.
Former ABI head Francis to join Aviva
Aviva today announced that Mary Francis is to be appointed to the board of Aviva as an independent non-executive director.
Lloyd's broker makes first move
Lloyd’s broker The Chesterfield Group today announced it has acquired managing agent MGA Van Wagoner Companies - its first acquisition.
Aspen grows aviation insurance team
Aspen Insurance UK has hired David Whiter as senior underwriter for aviation insurance, a newly created position. Based in London, he will report to Nick Bonnar, head of specialty lines at Aspen, and head up the aviation team.
Aon releases new terror map
Increased terrorist activity is making the world a riskier place in which to do business, according to Aon’s new 2005 Terrorism Risk map. The map assesses the level and nature of terrorist threat around the world on an annual basis.
Towergate acquires PI specialist
The Towergate Partnership has acquired London based Bray Wintour Patis, who specialise in professional indemnity and also operate a number of scheme facilities, including a facility for Removal companies.
Australian court jails former HIH director
Rodney Adler, a former director of failed Australian insurer HIH Insurance, has been jailed for four and a half years for his part in the company's collapse.
Senate committee chairman sceptical on need for TRIA
The chairman of the US Senate’s Banking, Housing and Urban Affairs Committee has said he intends to approach the question of extending the Terrorism Risk Insurance Act (TRIA) with a "critical but, I hope, open mind."
London company market in good health according to IUA statistics
Premium levels for non-marine business in the London company market have increased for the third year in a row, according to statistics produced by the International Underwriting Association.
AM Best rates Montpelier Re
AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Montpelier Reinsurance.
APRA to investigate Australian branch of GenRe
The Australian Prudential Regulation Authority (APRA) has announced an investigation into certain reinsurance practices involving General Reinsurance Australia’s general insurance business.
Hastings continues Eastbourne tennis sponsorship
Motor insurance company Hastings Direct has announced that it will be continuing its association with Britain’s most famous female tennis player, Virginia Wade, as part of its title sponsorship of the Hastings Direct International tennis Championships in…
Bankhall to expand GI offering with former Biba head
Bankhall, supplier of support services to the independent financial adviser and mortgage broking sectors, is preparing to expand into the UK general insurance (GI) market with the planned launch of Bankhall UK GI next month. The move follows the purchase…
Sirius turnover hits £21.7m
Sirius Financial Solutions recorded group turnover of £21.7m in 2004, a rise of 5.7% on 2003. The company added that operating profit before goodwill amortisation of £1.4m (2003: £0.4m) - exceeded Board expectations
Highway rejects Chaucer and terminates talks
Highway Insurance has rejected an offer for the company from Chaucer Holdings and has terminated talks. Highway's shares fell to 36.25 pence on the news. Chaucer's shares rose to 53.5 pence.
Axa Re questioned by SEC over MBIA probe
The New York Attorney General's Office and the US Securities and Exchange Commission have contacted Axa's Re over transactions with bond insurer MBIA.