Regulation
Fitch upgrades main Aviva non-life companies to IFS 'AA'
Fitch Ratings has today upgraded Aviva International Insurance, Aviva Insurance and Norwich Union Insurance insurer financial strength ratings to 'AA' with stable outlook from 'AA-'.
Brokers fear insurance law reform will add to PI costs
In its response to the Law Commission, the Institute of Insurance Brokers has stated that it does not believe any amendments to insurance law should attempt to confer different rights to private and business policyholders (or any combination of the two,…
NAIC proposes single-state reinsurance regulation
The National Association of Insurance Commissioners (NAIC) has released a proposal to modernise reinsurance regulation that would see a single-state regulatory environment responsible for overseeing US and non-US reinsurers.
FSA closes down Manchester broker
A Manchester insurance broker has been closed by the Financial Services Authority after investigations revealed that the firm was selling insurance without underwriting in place, leaving clients uninsured.
Homeserve restructures emergency services division
Homeserve Emergency Services has completed a restructure in a bid to improve customer service.
Bribe claim investigated
Aon has notified the Financial Services Authority that it is investigating whether it has complied w...
MIB boosted after uninsured clampdown
Figures released yesterday at the Association of British Insurers' motor conference signal an early ...
Case highlights consultation need
Bloxham v Freshfields Bruckhaus Deringer (Employment Tribunal - 9 October 2007)
Trying the alternative
Mediation: Personal injury
Scor continues recovery as Converium buy beds down
European reinsurer Scor has posted third quarter results that shows underlying organic growth in the three pre-existing business that it has acquired to make up the new group.
Reformed funding model for FSCS to operate from next year
The Financial Services Authority (FSA) has confirmed the future funding arrangements for the Financial Services Compensation Scheme (FSCS) which will operate from 1 April 2008.
Government urged to act over foreign drivers
Increased driving between countries is leading to more collisions throughout Europe, according to a report published today by the Association of British Insurers.
S&P: Bermuda riding high but tough renewal looms
Ratings agency Standard & Poors has published a report highlighting a financially strong Bermuda (re)insurance market, but one facing difficult challenges as the market softens.
Saudi Reinsurance Company approved
The Kingdom of Saudi Arabia has approved the establishment of a reinsurance company, Saudi Re, or E'ada.
Aon notifies FSA of internal anti-bribery investigation
Broking giant Aon has hired an external law firm to carry out an internal review of its compliance with certain US and non-US anti-bribery laws, including the US Foreign Corrupt Practices Act following regulatory enquiries.
SEC bars former RenRe officer for five years
Michael W. Cash, a former senior executive of Bermudian reinsurer RenaissanceRe (RenRe) has agreed to a no fault, US court-approved settlement of the SEC case against him that fines him $130,000 and bars him from serving as an officer or director of a…
Lloyd's issues China insurance trends report
Lloyd’s has launched a research report on China’s rapidly developing insurance market. The publication explores the key trends in the Chinese non-life insurance market and the opportunities they present for specialist players.
First UK insurance special purpose vehicle authorised
UK life insurer Legal & General has converted a subsidiary company into an insurance special purpose vehicle (ISPV), creating the UK's first such entity.
German reinsurer exits run-off business
German reinsurer, Deutsche Rück has announced the completion of its strategic plan to exit from third party run-off reinsurance business.
Pick of the Week
Post Magazine editor Jonathan Swift provides a run down of the major news in this week’s issue of Pos...
Chain link fencing
Risk Report
Senator agrees CRS run-off
The Senator Group has entered into a run-off agreement with London market broker CRS. It has stopped...
Government pressed for change over climate bill
The Association of British Insurers reminded government this week it will be pushing adaptation issu...
A beautiful mind
Intellectual Property