News
AM Best affirms Scor rating
Re-ratings
American Club announces P&I increase
The American Club has announced a general increase of 10% in total premium for its P&I business for ...
RMS looks at ’04 hurricane season
Risk Management Solutions (RMS), has unveiled a research initiative to analyse what it describes as “the unprecedented level of data generated by the 2004 Atlantic Hurricane Season”. The program includes research into hurricane frequency and an extensive…
Morgan Cole extends equine experience with solicitor hire
Susan Bywater-Lewis, a solicitor who specialises in advising agricultural insurers and dealing with equine litigation claims, has joined the insurance division of Morgan Cole, based in Swansea, South Wales.
Marsh director joins Willis
Willis Group has announced that former Marsh executive Arlene Corsetti has joined as Executive Vice President, Regional Executive Officer (REO) to lead the Western Region.
Link in European expansion
Link Insurance has received approval from the FSC to write business in France in its core areas of motor and household in a multi million pound capacity deal.
FERMA calls for EC to define transparency practices
Many national risk management associations have already begun or are considering some form of inquiry or action, as details of contingent commissions, market service agreements and even price collusion between brokers and insurers have emerged from the…
RAA releases latest US P/C figures
According to a Reinsurance Association of America (RAA) survey of reinsurers’ statutory underwriting results, a group of 27 U. S. property-casualty reinsurers wrote $22.3bn of net premiums during the third quarter of 2004.
Homeserve reports a £17.3m loss
UK emergency repair service and warranty company Homeserve announced a first-half loss after taking charged related to the sale of two units.
Broker Network announces first results since flotation
Broker Network has announced a 75% increase in turnover through organic growth and acquisition in its first interim results since its flotation on AIM in May 2004.
FSA strikes: Keith Rutter fined £20 000
The Financial Services Authority has shown it plans to follow through its policy of holding directors responsible for their actions and has imposed a statement of public censure on The Underwriter Insurance Company and fined its former CEO Keith John…
JLT: uncertainty ahead
The insurance industry is facing a period of uncertainty against a backdrop of challenges from terrorism to regulation, according to Mike Hammond, the chief executive of JLT Risk Solutions, at the JLT annual industry symposium in London: “The Insurance…
Japan hit by strong quake
Northern Japan has been hit by a powerful earthquake, with a magnitude of around 7.0 on the Richter Scale.
Chubb launches first air rage insurance
The first UK insurance cover to protect individuals against the affects of being caught in an air rage incident has been launched by Chubb Insurance.
SVB losses continue
Lloyd's insurer SVB's syndicate forecasts have revealed increased losses for the 2002 year of account. £8.1m has been utilised to cover the losses, for which it wrote a £103.6m provision at the end of June.
Mondial granted FSA authorisation
Mondial has been granted authorisation by the Financial Services Authority for the provision of non-investment insurance contracts, including motor warranties and roadside assistance.
Domestic and General reports operating profits of £13.7m
Domestic and General Group has reported a turnover growth of 2.8% to £112m for the period ending 30 September 2004, with underlying turnover up by 10% after taking into account the reinsurance fund transfer of £7.2m received in the comparative period…
JLT update: Share price closes almost twenty per cent down
Jardine Lloyd Thompson closed the day 94 pence to 366 pence following an earlier profits warning and the resignation of CEO Steve McGill.
Norwich Union offers help with heights
Norwich Union Risk Services is hosting a series of seminars for brokers and health and safety managers on the implications of the new Working at Height Regulations, due to come into force early 2005.
Groupama motor director to retire
Groupama Insurances has announced the impending retirement of Jack Brownhill who leaves his position as director of motor underwriting on 31st December 2004 after nearly 40 years service.
London P&I Club hopes for Chinese growth
Marine insurance mutual The London P&I Club said it has seen a continuing growth of business in China, where its membership numbers some of the country's largest shipowners, including China Shipping Group and COSCO.
JLT CEO resigns. Share price crashes
Jardine Lloyd Thompson chief executive Steve McGill has resigned from the company.
American Club announces P&I increase
The American Club has announced a general increase of 10% in total premium for its P&I business for the 2005/2006 policy year following a meeting of the directors in Hong Kong.
AIA announces agenda for upcoming NAIC meeting
The American Insurance Association (AIA) has unveiled its agenda for the upcoming National Association of Insurance Commissioners’ (NAIC) Winter Meeting. Issues of concern to AIA include the NAIC’s draft ‘broker compensation’ model law language and a…