Run off
Ten years on, liquidator reflects on Indy failure - Insurance News Now - 16 June 2011
Post senior reporter Amy Ellis outlines this week's major general insurance stories including how ten years on from Independent Insurance going into liquidation, PwC's Dan Schwarzmann is hopeful a scheme of arrangement being agreed by the end of the year.
Zurich disposes of UK subsidiary
Zurich has announced that one of its non-core subsidiaries in the UK, Zurich Specialties London, will transfer its run off insurance business to Swiss Re at book value.
Zurich disposes of UK subsidiary
Zurich has announced that one of its non-core subsidiaries in the UK, Zurich Specialties London, will transfer its run off insurance business to Swiss Re at book value.
Simia run-off will have 'little effect'
The Solicitors Regulatory Authority has downplayed the effect of the Solicitors' Indemnity Mutual Insurance Association's decision to go into run-off.
Tawa posts $6.8m discontinued business loss
Tawa has announced a $6.8m loss from discontinued operations – down from a $12.1m profit for 2009.
Jubilee outsources motor claims
Jubilee Insurance has outsourced its run-off motor claims to Beachcroft.
Tawa completes acquisition
Tawa has acquired 100% of the issued shares of Oslo Reinsurance Company (UK).
Professional indemnity - legal services shake up: a plethora of problems for solcitors?
With the legal services industry set for a structural shake-up, Mike Willis and Lindsay Bowskill consider the impact on its insurers.
ELTO pushes for 100% coverage
Ace has become the final major insurer to sign up to the employers’ Liability tracing Office.
Capita Managing Agency to manage new run-off
Capita Managing Agency has been approved by Lloyd’s to manage a newly created run-off syndicate at Lloyd’s, 2255.
Learning from life: Could Solvency II bring life and general insurance closer together?
When the First Life Assurance Directive was passed in 1979, it spelled the end for new composite insurers. Steven McEwan explains why the advent of Solvency II may bring life and general insurance back in contact again.
Novae finalises run-off closures
In an announcement to the London Stock Exchange, Novae has confirmed it has closed two of its run-off syndicates, while predicting its pre-tax profit for 2010 will reach at least £34m.
Whittington makes personnel change in Singapore
Whittington Group has promoted Ross Bundey, group general counsel, to the position of director of the Group’s holding company, Whittington Group Pte Ltd.
High Court of Justice sanctions business transfer
The High Court of Justice has sanctioned the transfer of insurance and reinsurance business from Aviation & General Insurance Company, a subsidiary of Ruxley Ventures, to Tenecom, a member of the Berkshire Hathaway group of companies.
High Court of Justice sanctions business transfer
The High Court of Justice has sanctioned the transfer of insurance and reinsurance business from Aviation & General Insurance Company, a subsidiary of Ruxley Ventures, to Tenecom, a member of the Berkshire Hathaway group of companies.
Charles Taylor begins search for new CEO as Rowe steps down
Charles Taylor Consulting has announced that John Rowe has advised the board that, after 37 years' service with the company, the last 17 of which were as a board member, he wishes to retire as CEO and as a member of the board by the end of 2011.
Tawa swoops for Oslo Re UK run-off business
Tawa has entered into a share purchase agreement to acquire 100% of the issued shares of Oslo Reinsurance Company (UK) from Oslo Reinsurance Company AS for a consideration of £4m.
Tawa swoops for Oslo Re UK run-off business
Tawa has entered into a share purchase agreement to acquire 100% of the issued shares of Oslo Reinsurance Company (UK) from Oslo Reinsurance Company AS for a consideration of £4m.
Biba voices ELTO membership concerns
The British Insurance Brokers’ Association has urged the Financial Services Authority to do more to ensure the employers’ liability tracing office is up and running by April 2011.
Tawa links up with Lincoln General in US run-off push
Tawa and Lincoln General Insurance Company have today announced a strategic relationship that brings together the resources and experience of both organisations.
CTC: 2010 earnings likely to be at the lower end of expectations
In an interim management statement covering the period between 1 July 2010 to 16 November 2010, Charles Taylor Consulting today said business activity has been broadly in line with the expectations contained in its half yearly report.
Bluefin puts Elite into run-off
Bluefin is putting its Elite underwriting facility for SME business into run-off.
ABI and Apil lead calls to reject asbestos ruling
Personal injury lawyers are urging all insurers to continue paying claims for mesothelioma on a traditional basis until the issue over policy triggers is ultimately resolved — which could take another year.
Morrisons offloads legacy liabilities
Grafton Europe has accepted the transfer of Wm Morrison Supermarkets self insured legacy years’ liabilities.