News
Insurers protected from downgrade despite multi-billion pound WTC claims
Standard & Poor's Ratings Services has announced there will be no forseeable impact on insurer ratings as a result of the signature lawsuit from 11 Sept. 2001 which is making its way through the federal court system.
Appointments at J. K. Buckenham
Michael Ball and Philip Wood, specialist extended warranty brokers, have joined J. K. Buckenham Limited as executive directors of the Special Risks Division, a leader in the London market for product enhancement products.
MIB manager leaves to spearhead new fraud drive
The Motor Insurer’ Bureau group operations manager Joe Pendle has quit to join personal injury claims and anti fraud solutions provider ISO. In his new role he will head up ISO’s European client services division, with the aim of developing and rolling…
Lloyds TSB Insurance to move jobs abroad
Lloyds TSB Insurance has told PM that it it intends to cut 107 jobs in the UK, and redeploy them to India. As part of the move, which will impact centres in Bournemouth and Newport, Lloyds TSB intends to create 43 new jobs in India.
Bullying claims have reduced says Zurich
New figures released today show the total number of bullying claims made in 2003 is less than a quarter of those made in 2002. The quantity of claims has been rising steadily in recent years, and are responsible for eating into funds from stretched…
Converium reports Q4 2003 results
Converium has reported a rather mixed set of results for 2003, although it still made a substantial profit.
Litigation Control changes name to LCL
The Litigation Control Group will, from today, trade as LCL Group Limited. One of the Group’s constituent companies, Litigation Control Limited, will also now trade as LCL Insurance Services Limited.
Swiss Re reports good renewal season
Swiss Re has announced that it achieved premium growth of 7% for its traditional non-life business in the latest round of renewals.
IUA promotes compliance advice as key service
The International Underwriting Association is responding to the increasing complexity of regulatory environments surrounding international insurance and reinsurance business by introducing compliance advice to its members.
Zurich appoints new underwriting director
Zurich has appointed Andy Baughan asunderwriting director for its UK personal lines business.
Holland joins Euclidian to run managing agency
Euclidian Group has appointed Andrew Holland as chief executive of its subsidiary Euclidian Underwriting, with immediate effect.
Department of Trade and Industry outsources miners' PI liability claims to Capita
The Capita Group ("Capita") is to manage the contract to administer all miners' personal injury liability claims on behalf of the Department of Trade and Industry ("DTI") with respect to certain health conditions caused by working underground in British…
Axa UK appoints board members
At its meeting on 13 February 2004, the Board of AXA UK approved the appointment of Keith Gibbs and John O'Neill as Board Directors of AXA UK. The appointments are subject to the usual regulatory approvals.
Loss Recovery Group launches new trading name
The Loss Recovery Group today launched its new trading name, Lorega Claims and Underwriting Services.
Hercules annnounces positive year end results
Property insurance and services group Hercules Property Services, has announced an 81% increase in profits before tax for the period up to 31st December 2003, highlighting the growth of its broking subsidiaries, Deacon, Codogan and Farr.
Brit switches household business from Lloyd's to company market
Brit Insurance Holdings has announced that, in keeping with its stated strategy to move UK business f...
Most London market business will have to use LMP slips
New research has revealed that only 5% of open market business will be exempt from the requirement to use London Market Principles slips.
Wellington expects good returns for 2003
Lloyd’s insurer Wellington is forecasting a return on capacity of £699.4m of between 11% and 18% for 2003.
Cobra membership grows
Commercial broking alliance Cobra said it is currently processing six new members to add to the ten that have joined since 1 Decmeber.
Montpelier Re reports record 2003 results
Montpelier Re has announced that it made a net profit of $99.9m for the fourth quarter of 2003, a rise of 35.5% on the $73.7m it made over the same period in 2002. The results take the company’s 2003 figures to a record total profit of $407.1m,…
UCE Business School expands banking and financial services provision
The University of Central England (UCE) has been appointed as the sole academic centre in the UK for Institute of Financial Services ifs/UMIST diploma and degree programmes. The appointment makes UCE the largest centre for banking and financial services…
Channel Re gets thumbs up from rating agencies
New Bermudian financial guaranty reinsurer Channel Re has received a financial strength rating of Aaa (exceptional) from Moody’s and AAA (extremely strong) from Standard & Poor’s.
Office moves benefit Birmingham market
Birmingham has seen important office moves this month. Insurance technology provider Sirius is trans...
Three quarters meet new CII framework standards
Around 77% of those candidates sitting the Chartered Insurance Institute's new qualifications framew...