News
No specific 21-day complaints so far, says ABI
The Association of British Insurers has hit back at recent 21-day employers' liability renewal scare...
Events
9 September Chartered Insurance Institute - Learning and Development Forum London 12-14 September...
PYV launches fast lawyers' PI quote service
Professional indemnity broker PYV has launched a new website that allows solicitors to obtain PI ins...
HBOS GI reports increase in household and travel
Halifax Bank of Scotland General Insurance has seen its premium income increase by 12% to £840m for the first half of 2004, with the company reporting an overall profit of £239m.
McQuade joins XL Capital
XL Capital has appointed Eugene McQuade to its board of directors.
Montpelier Re announces Q2 profit
Montpelier Re has posted a $107m profit for the second quarter of 2004, down slightly on the $112.5m it wrote over the same period of 2003.
RenaissanceRe announces Q2 figs
RenaissanceRe has reported net operating income of $143.1m for the second quarter of 2004, up on the $130.5m for the comparable period in 2003.
Ace reports good Q2 figures
Bermuda-based Ace has reported net income for the second quarter of 2004 of $413m, an increase of 11.3% compared with net income of $371m for the same quarter last year.
Former RSA head joins Wellington board
Wellington Underwriting has appointed Julian Hance to its Board as a non-executive director with effect from 1 August. He will also chair the group's audit committee.
Space age technology for insurers
Technology company QinetiQ has teamed up with financial modelling company Sciemus to develop an insurance risk analysis tool that aims to simplify risk assessment for the space industry.
JLT results announced
Jardine Lloyd Thompson today announced interim results for the six months ended 30 June 2004.
Fitch calls for ECR to be made public
International rating agency, Fitch Ratings, has called for the Financial Services Authority to make Enhanced Capital Requirements public at the earliest possible opportunity.
Endurance Specialty posts increased profits
Endurance Specialty has reported net income of $114.8m for the second quarter of 2004, an increase of 72% on the $66.8m it recorded in the same period of 2003.
Aon & RBS claim UK capacity oversupply ahead
The UK is set for solid and balanced economic growth into 2005 but it may not be enough to outstrip the growth of capacity supply in the insurance sector, according to Aon and the Royal Bank of Scotland.
New personal service for brokers
UK insurance brokers looking to expand their portfolio of personal insurance products can take advantage of a new service – www.cover4brokers.com
Fitch changes rating outlook for global reinsurance market
Fitch Ratings has announced that it has revised its rating outlook for the global reinsurance sector from negative to stable. Prior to this change, Fitch had maintained a negative rating outlook on the sector since 2001.
Converium announces loss for Q2 figures
Converium made an operating loss of $300.4m for the second quarter of 2004, down substantially on the profit of $61.9m it made over the same period of 2003.
Insurance managers more likely to resign, says new research
Resignations amongst insurance managers have increased in the year to January 2004 as movements in earnings continue to stutter, according to research by the Chartered Management Institute and Remuneration Economics. The results, from a survey of 21,987…
New Re picks Sunopsis
Munich Re subsidiary New Re has selected Sunopsis to manage its data exchange and consolidation.
Cornhill closes direct arm
Cornhill Direct Life, the direct life insurance operation of Allianz Cornhill, is to cease writing new business after 31 December 2004. The direct life business will then be placed into run off, alongside the Cornhill Life division which closed to new…
Lloyd's outsources training centre to CII in five year deal
Lloyd’s has appointed the Chartered Insurance Institute to run its training and development centre in a five year deal.
Zurich reveals outsourcing deal
Zurich today announced that it has signed a global information technology applications outsourcing agreement with Computer Sciences Corporation.
Fitch downgrades ERC
Fitch Ratings has downgraded its insurer financial strength rating on Employers Reinsurance (ERC) to 'AA-' from 'AA' and its long-term and related senior debt ratings on ERC's parent company, GE Global Insurance (GE Global) to 'A-' from 'A'. The rating…
XL Re Europe appoints Romagné
XL Re Europe has announced the appointment of Bertrand Romagné as senior vice president and head of the Property Treaty Department.