Insurer
Fonsai downgraded to 'BB' along with main subsidiary
Italy’s second largest motor insurer Fondaria-Sai has been downgraded from ‘B+’ to ‘BB’ along with its main subsidiary Milano Assicurazioni.
Ex DA Constable MD joins syndicate 2525
Whittington Capital Management syndicate 2525 has appointed Stephen Fitzgerald to develop business in UK regions not currently accessed through the Lloyd’s broker channel.
First Assist "regrets" lack of clarity on Laspo bill
Legal expenses provider First Assist has welcomed the six month delay to the Legal Aid, Sentencing and Punishment of Offenders bill stating it was “a limited reprieve” for those making claims next year.
Arc set to rebrand
The Association of Run-Off Companies has obtained in-principle permission from the FSA and Companies House to change its name to Insurance and Reinsurance Legacy Association, subject to a forthcoming extraordinary general meeting.
Thirty insurers linked to Costa Concordia disaster
More than 30 insurers are likely to carry the cost of stricken Costa Concordia cruise ship.
Mapfre IDR downgraded following sovereign
Fitch Ratings has downgraded the issuer default rating for Spanish insurer Mapfre SA and its core subsidiaries from ‘A-‘ to ‘A’.
Generali could be downgraded if Italy's IDR falls any lower
A further sovereign downgrade for Italy is likely to result in a downgrade for Italian insurer Assicurazioni Generali, ratings agency Fitch has said.
Websure completes R&Q Marine Services implementation
Specialist insurance software provider Websure has completed the implementation and launch of R&Q Marine Services which was formed when the yacht and marine trade teams portfolio was transferred from Underwriting Risk Services.
Towergate 'financially rock solid' despite IDR downgrade warning
Towergate chief financial officer Ian Patrick has described his firm as being “comfortably within the expected range” after Fitch Ratings reaffirmed the broker’s issuer default rating at ‘B’, but changed the outlook from stable to negative.
Doha Insurance reports 9% net profit rise
Doha Insurance Company (DIC) has seen its net profit rise 9% to Q65.85mn, and has recommended 30% bonus shares to shareholders.
CILA launches young adjusters group
The Chartered Institute of Loss Adjusters has launched a special interest group for young adjusting and claims personnel.
Laspo Bill suffers six-month delay
The Legal Aid Sentencing and Punishment of Offenders Bill will not be implemented until April 2013, the government has confirmed.
Willis targets multinationals with new MD of Global Solutions
Global broker Willis has appointed Bruce Trigg as managing director of Global Solutions, with effect from 1st April 2012.
WNS to ditch Helphire in favour of Accidents Happen brand
The commercial relationship between WNS Assistance and Helphire will come to an end in April - one year after Helphire was appointed third party provider for credit services following concerns expressed by the WNS Approved Repairer Network.
Brit hires investment chief from IAG
Brit has recruited John Stratton from Insurance Australia Group to fill the newly created role of chief investment officer.
Homeserve appoints group COO
Homeserve has promoted its group chief financial officer, Martin Bennett, to the new position of group chief operating officer.
Moody’s ups outlook for French insurers
Moody's has changed the outlook for the French property and casualty sector to stable from negative, but left the French life insurance sector on negative.
Insurers call for government to tackle flood risks
Insurers have demanded the government “grasp the nettle” and tackle flooding risks after the Public Accounts Committee demanded a renewal of the voluntary flood insurance agreement.
World wide web inventor announced as BIBA conference keynote speaker
The inventor of the world wide web Sir Tim Berners-Lee will be the closing keynote speaker at British Insurance Brokers’ Association conference this year.
Slater & Gordon to enter UK legal market
Australian law firm Slater & Gordon has agreed to acquire the business of UK law firm Russell Jones & Walker for £53.8m subject to the grant of an Alternative Business Structures licence by the UK Solicitors Regulation Authority.
Chubb announces tie-up with National Windscreens
Chubb has today confirmed the appointment of National Windscreens as the high net worth firm’s preferred supplier of vehicle glass repair and replacement services.
Qatar and Luxembourg continue financial services cooperation
Qatar Financial Centre Authority and Luxembourg for Finance, the agency for that promotes Luxembourg as a financial centre, held a joint seminar today as part of the continued cooperation between the two countries in financial services.
Economic uncertainty to impact European construction in 2012
The health of the European construction sector will depend on austerity plans in 2012, according to credit insurer Coface.
Ace boosts claims with Sharp recruit
Ace has appointed Christina Sharp from Van Ameyde Group as claims client relationship manager.