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Loss adjusters fight fraud
In last week's Post, Stuart Dennis, of TCF Corporate, made a number of negative comments about loss ...
Most AIG employees return their bonuses
Three quarters of AIG's leading bonus recipients have returned their payments in full, following a b...
Ecclesiastical posts heavy pre-tax loss
Ecclesiastical has reported a pre-tax loss of £22.5m, a significant deterioration on last year's £35.6m profit.
Colemont adds Aon aviation brokers
Colemont Insurance Brokers Limited has added two brokers to its London-based aviation divisin, the company said.
L&G downgraded by AM Best
AM Best has downgraded the issuer credit rating to "a" from "a+" of the non-operating holding company, Legal & General Group as well as the ratings for all debt issued or guaranteed by L&G.
Post pick of the week
Reporter Louise Meeson looks at the major stories in this week's Post: AA Insurance faces backlash over plans to alter how it passes on premiums to insurers; Delta Claims Services unveils details of UK franchise-based loss adjusting operation; Insurance…
Mutual reports 100% rise in GI sales
Wesleyan Assurance Society saw new sales of general insurance products more than double in 2008. As a result the mutual plans to grow this area of its business further over the next five years and has taken additional office space at Number 1 Colmore…
Lockton to open Dubai office
Global broker Lockton will have an eight-strong team fully operational and on the ground in Dubai from 1 May, Post has learnt.
New bids seen for AIG's ILFC unit
There may be three bidders for AIG's plane leasing subsidiary International Lease Finance Corporation, Reuters has reported.
Geithner says new financial regulations needed to stop 'another AIG'
(BESTWIRE) - A new systemic risk regulatory regime is needed to prevent the next American International Group-style meltdown, US Treasury Secretary Tim Geithner told the House Financial Services committee.
Swiss Re says US tax plan might hurt all foreign insurers, not just Bermuda
(BESTWIRE) - Its supporters have framed it and the Obama administration has endorsed it as a measure that would close a loophole allowing insurers and reinsurers in tax havens to compete with an unfair advantage over domestic companies.
EU donates €12.5m to CCRIF
The European Union has donated €12.5m to the Caribbean Catastrophe Risk Insurance Facility.
Willis to start new division
Willis, the insurance broking giant, is to start a new division, Willis Capital Markets and Advisory Services.
Berkshire outlook downgraded by S&P
US ratings Standard & Poor's has revised its outlook on Berkshire Hathaway to negative from stable.
L&G's general insurance business reports £2m loss
Legal and General this morning reported a general insurance loss of £2m (2007: £67m) and a combined ratio of 108% for the year ended 31 December 2008 (2007: 131%).
Pick of the week
Reporter Louise Meeson looks at the major stories in this week's Post: AA Insurance faces backlash ov...
CEA welcomes EC support for elements of BER renewal proposals
The CEA has welcomed the European Commission's support for the renewal of the Insurance Block Exemption Regulation for insurance pools and for joint calculations, tables and studies.
S&P: Lloyd's outlook remains unimpacted by 2008 results
Standard & Poor's insurer financial strength rating and outlook on Lloyd's remains unaffected by its full-year results reported this morning.
Lloyd's CFO gloomy about investment prospects for 2009
Like a number of its reinsurance peers, Lloyd's is gloomy about the prospect of getting any investment returns from 2009.
Smith steps down as Swinton CEO
The chief executive of Swinton Patrick Smith is to step down, to be replaced by current deputy chief executive Peter Halpin. Mr Smith will remain on the board as chairman.
Bluefin loses employment tribunal
Bluefin Insurance Services has lost an employment tribunal against a former manager who accused the broker of unfair dismissal.
Tokio Marine expects net income to slump
(BESTWIRE) - Tokio Marine Holdings Inc. [50962] said its net income is expected to fall 95.4% to 5bn yen ($52m) for the 2008 fiscal year which ends March 31, 2009, due to continuous price fluctuations in stock and foreign exchange markets.
Buffett's motor insurer heads for Massachusetts
(BESTWIRE) - The Massachusetts automobile insurance market could have another entrant - the third-largest U.S. provider of auto insurance - if regulatory approvals are granted.
First Assist expands rehab services
First Assist is expanding its quality accredited rehabilitation services with the creation of a dedicated centre based at its Purley head office.