Regulation
What the papers said this week
Financial Times HSBC plans to double the proportion of profits it makes from insurance by 2012. T...
UK brokers singled out in EC transparency row
Broker transparency has come under the spotlight again as lawyers claimed policyholders would be qui...
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Operational risk management
Bermuda hikes registration fees 260% to pay BMA staff
The Bermudian government has passed a bill increasing Bermuda Monetary Authority (BMA) fees for bank...
Paris Re launches new Bermudian sidecar
Paris Re, the Trident III-backed company that recently took on Axa Re's business, has formed a new B...
Munich Re's ratings upgraded to 'AA-'
Standard & Poor's (S&P) has raised its long-term counter-party credit and insurer financial-strength...
Environmentally friendly?
Environment
Advent Re given licence to trade
Advent Re has received its Class 3 reinsurer licence from the Bermuda Monetary Authority and was cap...
Product focus - AIG subsidiary launches FI professional-liability package
National Union Fire Insurance Company of Pittsburgh, a subsidiary of American International Group (A...
Broker bosses in Companies Act warning
Directors of insurance intermediaries were yesterday warned of the impact, and pitfalls, of the new Companies Act 2006.
FSA – recognises industry’s solution to market certainty
The Financial Services Authority (FSA)announced that the insurance industry has met the challenge laid down to achieve a solution to contract certainty in the UK. This has resulted in a more efficient market for buyers, brokers and insurers and brought…
Marsh hires client service manager for Japanese business
Marsh has appointed Rob Wendin to lead its Japan client services team in Europe, Middle East and Africa.
FSA fines GE Capital Bank
The Financial Services Authority (FSA) has fined GE Capital Bank Ltd (GECB) £610,000 for failing to have adequate systems and controls for selling insurance which includes Payment Protection Insurance (PPI) and for failing to treat its customers fairly.
Cheung to lead Marsh modelling and analysis team in UK
Marsh has appointed Man Cheung as leader of its modelling, analysis and design team in the UK. Mr Cheung will report to Eddie McLaughlin, the team’s global practice leader.
Crawford announces London market bureau to launch this week
Crawford & Company is set to launch a global claims bureau in the UK to further strengthen its Lloyd’s of London operations. It will officially open on 1 February with a reception at the Lloyd’s building attended by leading Lloyd’s and London Market…
FSA makes non-exec appointments to compensation scheme
The Financial Services Authority has appointed two new non-executive directors to the board of the Financial Services Compensation Scheme with effect from 1 February 2007.
Kyrill set to cost Munich Re $778m
Munich Re has forecast a loss of up to $778m from winter storm Kyrill. The loss includes claims relating to its primary insurance subsidiary Ergo.
Emerging markets continue solid insurance growth says Swiss Re
Growth in insurance business in emerging markets continued to outperform in 2005, according to the latest Sigma study from Swiss Re.
Bermuda records three-year high for reinsurance incorporations in 2006
Bermuda recorded a three-year high for reinsurance company incorporations during 2006, with an almost 10% increase in the number of new reinsurance companies incorporated in the jurisdiction over 2005, Bermuda Monetary Authority.
E-Learning in Practice
Ian Jerrum warns that actively managing employee use of e-learning tools is vital, not only in maximising value but in meeting regulatory requirements
RSA close to US victory
Royal and Sun Alliance's battle with US policyholders vying to halt the disposal of its US business ...
Penny Black's insurance week
The Financial Services Authority has often been criticised for making brokers jump through hoops in ...
£33m Windsor MBO
The independent directors and the executive directors of listed broker Windsor have agreed the terms...
IIB slams travel loop hole
The Institute of Insurance Brokers has waded into the row over non-Financial Services Authority auth...