News
Lloyd's consents to Goshawk disposal
Goshawk has signed an agreement to sell 80% of Goshawk Dedicated to a consortium, with a contingent sale of the remaining 20% to certain members of the consortium depending on further negotiations to be concluded by the end of February 2005.
Danish Re bought up by Imagine
The Imagine Group has announced that its subsidiary Imagine Insurance Company has completed the acquisition of Danish Re (Bermuda) and all related subsidiaries of the Danish Re Group worldwide.
AM Best places RenRe under review
AM Best has placed the financial strength and debt ratings of the insurance and reinsurance subsidiaries of RenaissanceRe Holdings (Bermuda) under review with negative implications.
Insurers sued for Canada blackout payments
Proposed class action lawsuits seeking $165m in damages have been filed against three Canadian insurers for allegedly failing to pay claims related to the August 2003 blackout.
One in five law firms sacked their brokers in 2004
Almost one in five of the top 100 UK law firms by revenue sacked their insurance broker over the past year, according to a survey carried out by Legal Risk, which specialises in risk management.
Highway in acquisitions talks update as it announces profits will beat expectations
Highway Insurance today announced that the company's financial results for the year ended 31 December 2004 will be materially higher than current market expectations.
Moody’s announces new appointment
Moody's Corporation has named Jennifer Elliott vice president and chief human resources officer.
Industry support for TRIA extension
The Independent Insurance Agents & Brokers of America (IIABA) has hailed the introduction of a bill in the US Senate to extend the Terrorism Risk Insurance Act (TRIA).
Parabis launches travel sector business
Parabis Law has launched a new business venture, Acclaim Limited, offering specialist risk assessment and claims management services for the travel industry.
BMS signs South African deal
Reinsurance broking group BMS has announced that that they have signed a cooperation agreement with NewBridge Reinsurance Brokers to develop reinsurance business in Southern Africa.
Details of new Rehabilitation First Awards announced
The inaugural Rehabilitation First Awards enter their first year, offering an opportunity for those companies and individuals who have been instrumental in raising awareness of rehabilitation in its widest sense, to be recognised and rewarded.
St Paul offloads personal lines book
Lloyd’s managing agent Jubilee has acquired the Cassidy Davis personal lines book from St Paul Travelers.
AM Best downgrades Inter-Ocean subsidiaries
AM Best has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and the issuer credit rating to “a-” from “a” for the reinsurance subsidiaries of Inter-Ocean Holdings (Bermuda). The ratings apply to Inter-Ocean Reinsurance…
Airmic chair warns it will lobby FSA over renumeration regulation if new broker models fail
It is too early for commercial insurance buyers to lobby for formal regulation of broker remuneration, according to Andrew Cornish, chairman of the UK risk management association, Airmic.
Plexus Law strengthens property team
Plexus Law has recruited Justin Collins to join its property team in London.
Former Amlin pair join QBE
QBE has made two new appointments to its trade credit team in London.
Zurich Municipal appoints underwriting director
Zurich Municipal has appointed Cliff Skeates to the role of underwriting director. Cliff will direct a team of over ninety underwriting staff dedicated its public service clients.
ABI looks at financial advice proposals
The Association of British Insurers (ABI) has put forward what it describes as ‘innovative’ proposals to reform the way in which financial advice is paid for.
Brokers covet responsive insurers, says new survey
Insurer responsiveness is still considered to be the most important element to a broker when assessing insurance companies, according to a new suvey from Allianz Cornhill
MMA attacks claims farmers with Bupa tie up
MMA Insurance has teamed up with Bupa to launch a new motor accident clinical assessment and treatment service, which it claims could save up to 50% of its bodily injury claims costs on qualifying cases.
Marsh slams "ridiculous" job cut reports
Marsh and McLennan chief executive Michael Cherkasky has hit back at claims the broking giant is to axe a further 7000 jobs.
Lawsuit abuse act passes in US Congress
The Class Action Fairness Act has passed a formal vote in the US Congress and is to be signed into law by President Bush.
Moody’s downgrades XL Capital outlook
Moody's Investors Service has affirmed the A2 senior debt rating of XL Capital and the insurance financial strength ratings of the insurance operating subsidiaries of XL. At the same time, Moody's changed the outlook on all of the debt and insurance…
Asbestos ruling could save insurers up to £750m
Deloitte has estimated that Tuesday’s High Court ruling on the asbestos-related condition, pleural plaques, may reduce future claims to insurance companies by up to £750 million, in relation to their UK asbestos liabilities.