News
Walker secures e-commerce role at Standard Life Healthcare
Standard Life Healthcare, has appointed Angie Walker to the new post of e-commerce development manager.
Pinnacle launches FSA training
Pinnacle Insurance has launched a training initiative to provide regulatory and best practice training to brokers and intermediaries who may require support for FSA compliance.
Clock ticking for London Market reform
Business opportunities may be being turned away from the London insurance market because inefficient accounting and settlement processes make it too expensive to service, members of the International Underwriting Association (IUA) have been told.
Beazley profits from increased speciality business
Lloyd's insurer Beazley has announced a profit before tax £17.1m for the 2003 year of account against a loss of £1.2m in 2002.
PCI applauds NAIC over aliens
The Property Casualty Insurers Association of America (PCI) has backed the National Association of Insurance Commissioners’ (NAIC) decision to table consideration of an approved list of alien reinsurers.
Alea appoints new group president
Alea Group Holdings announced today that it has named Mark Ricciardelli as group president and chief operating officer, effective immediately.
Amlin appoints Buchanan to non-exec board
Amlin has appointed Nigel Buchanan to its non-executive board with immediate effect. Mr Buchanan has also joined Amlin's Audit Committee.
S&P criticises new accounting standards
Standard & Poor's Rating Services said in a report published today that it expects notable shortcomings in Phase I of the International Financial Reporting Standards on insurance contracts when it is published at the end of this month.
Silverstein barred from WTC trial
World Trade Centre (WTC) leaseholder Larry Silverstein has been banned from attending the remainder of the ongoing trial over the insurance of the twin towers.
Tesco extends deadline on home insurance discount
Tesco Personal Finance has extended the deadline for a 15% discount on home insurance until 31 July 2004.
SVB acquires trade credit insurance business
SVB Holdings, the specialist insurance and reinsurance group, has acquired the business of Credit Indemnity & Financial Services Ltd (“CIFS”).
Aon launches advisory team
Aon has announced the launch of a specialist team, Aon Capital Advisory, to offer a range of advisory services for underwriting and insurance related entities.
GAB granted first Chinese licence
GAB Robins claims to have become the first international loss adjusting company to be awarded a licence to provide a full range of services to the Chinese insurance industry by the China Insurance Regulatory Commission.
Travelers shareholders give merger thumbs up
Travelers Property Casualty shareholders have given their approval for the proposed merger of the company with The St Paul.
Aviva cuts chief executive’s pay
Aviva has announced it cut chief executive Richard Harvey’s compensation 23% last year after he received a one-time payment in 2002 related to a merger. The value of his pension rose 24%.
Zurich Municipal wants sprinklers fitted in all schools
Zurich Municipal is renewing its call for sprinklers to be made compulsory in all new or refurbished schools.
Carole Nash launches new claims service
Carole Nash Insurance Consultants has launched a new claims service, which it expects to cut claim settlement times by up to 10 working days
Profits surge at Hiscox
Hiscox has posted pre-tax profits for 2003 of £83.4m compared to £20.7m the previous year.
Broker Network to float on Alternative Investment Market
Broker Network has announced its intention to float on the Alternative Investment Market (“AIM”) of the London Stock Exchange and to raise capital by means of a Placing and Offer.
Equitas reaches $245 agreement with US giant
Lloyd’s run off venture Equitas and US insurer Travelers Property Casualty have reached a comprehensive settlement of all policies existing between Travelers and those underwriters at Lloyd’s reinsured by Equitas.
Colonial creates reinsurance arm
Bermuda-based Colonial Insurance Group is to set up its own reinsurance arm.
Allianz records increase in commercial and personal GWP
Allianz Cornhill today announed an operating profit of £159.1m for the year ended 31 December 2002, with net written premium up 13.35 to £1496m.
Former R&R boss Rodilosso in Folgate move
The Folgate Partnership has recruited former Rarrigini and Rosso chief executive Julie Rodilosso on a consultancy basis.
Fortis boosts distribution with Dobson
Fortis Insurance has announced that Chris Dobson has joined the senior team as distribution and development director.