Regulation
PB Week: Aon given largest financial crime fine
Today Aon was fined 5.25m pounds by the Financial Services Authority after the regulator gave the broker its largest financial crime related fine writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
Global property business leads Jubilee portfolio expansion
Jubilee Managing Agency (Jubilee), the specialist Lloyd's insurer, has announced the first of its new business lines, with the launch of a Global Property account, part of its strategy to expand and diversify its product portfolio.
Aon "recognises and regrets" £5.25m FSA fine
Aon has said it "recognises and regrets" the failings that led to the Financial Services Authority fining it £5.25m
FSA fines Aon £5.25m
The Financial Services Authority has today fined Aon £5.25m - its largest ever financial crime-related fine.
Abu Dhabi government seeks increased insurance regulation
The government of Abu Dhabi is seeking to increase insurance regulation in an effort to continue to grow in the United Arab Emirates.
Jubilee launches global property account
Lloyd's managing agency Jubilee has launched a global property account.
HSBC head mourned
HSBC head of insurance Christen Schnor (pictured) was found dead in a London hotel room following a ...
The law of which land?
Rome II: Legal update
Appointment at Beazley
Beazley has appointed Anthony Hobkinson to head its specialty lines claims team focusing on professi...
Recession creates opportunities for risk
Changes to operational and security risks will bring about "seismic change" and opportunity for the ...
Feel the heat in Spain
Contingencies: Legal update
Allianz targeted in alleged crash scam
A total of 33 people have appeared in court in connection with a 'crash for cash' scam in which they...
Dispute resolution service aims to cut insurer legal costs by 75%
A new dispute resolution service is targeting the insurance industry claiming it can potentially sav...
Willis hires new head of continental Europe business
(Bestwire) Willis Group Holdings Ltd. has named Adam Garrard as the chief executive officer of its European continental business.
Reinsurer shift towards Europe from Bermuda predicted
Bermuda may continue to lose its favour amongst its domestic reinsurance companies in 2009, business advisory consultant Smart has said.
Lloyd's gets Guernsey licence
Lloyd's, the world's leading specialist insurer, has obtained a licence to write direct general insurance business in Guernsey.
Randall & Quilter makes acquisition
Randall & Quilter, the AIM traded insurance service provider and acquirer of solvent insurance companies in run-off, has acquired Bermuda-based accounting and management service firms Quest Management Services Limited, Quest (SAC) Limited and Sentry…
Law firm Stephenson Harwood makes new Asia hire
International law firm Stephenson Harwood has hired insurance specialist Steven Dewhurst, an insurance specialist, with contentious and non-contentious experience of advising insurers, reinsurers and insurance intermediaries. He joins from DLA Piper's…
Reinsurance market shows first signs of hardening
The (re)insurance market has shown its first signs of hardening, Reinsurance has learned.
Temple Insurance Company upgraded by AM Best
A.M. Best Co. has upgraded the financial strength rating to A+ (Superior) from A (Excellent) and the issuer credit rating to "aa-" from "a+" of Canadian insurer Temple Insurance Company. The outlook for both ratings has been revised to stable from…
Consolidation predicted for insurance market
Consolidation in the insurance market may gather pace as companies seek to manage their capital and other regulatory overheads, says an industry expert.
AM Best assigns ratings to Max Capital US insurance subsidiary
Ratings agency A.M. Best has assigned a financial strength rating of A- (Excellent) and an issuer credit rating of "a-" to Bermudian (re)insurer Max Capital's US subsidiary Max America Insurance Company (MAIC) (South Bend, IN). The outlook for both…
XL downgraded by Moody's
Moody's has downgraded the senior debt rating of XL Capital to Baa2 from Baa1 and the insurance financial strength (IFS) ratings of XL's insurance and reinsurance operating subsidiaries to A2 from A1.
CEA opposes US affiliated reinsurance tax proposals
The CEA, the European insurance and reinsurance federation, has today set out its opposition to proposals to change the US tax treatment of related-party reinsurance with offshore entities in a letter to the US Senate Finance Committee and the Committee…