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Torus appoints new US excess casualty head
Bermuda-domiciled insurer Torus said it has appointed Linc Trimble as its US head of excess casualty.
Aviva outlook revised to negative from stable by S&P
Standard & Poor's Ratings Services said today it revised its outlook on Aviva and certain related operating entities to negative from stable. At the same time, the 'A+' long-term counterparty credit rating on Aviva PLC and the 'AA-' long-term…
ABI warns government to heed Brit departure
The Association of British Insurers has warned the UK government that it cannot take its position as a leading global insurance market for granted.
AIG-owned Ascot ups 2009 business plan by $100m
Ascot Underwriting has deposited an additional $100m at Lloyd's to support its 2009 business plan.
Broker teams up with Thatched Owners Group for new launch
Higos Insurance Services has launched an insurance policy for owners of thatched properties. The three-year home insurance plan includes special discounts and the offer of a free chimney inspection by a qualified engineer every three years to help reduce…
Aviva under review for possible downgrade
Moody's has placed Aviva group on review for a possible downgrade following what it described as the "relatively modest performance" of its UK general insurance business.
XL Insurance launches environmental endorsement
XL Insurance has launched its environmental endorsement for general liability policies issued in the UK.
Costa Coffee tongue insured for £10m
Italian Master of Coffee at Costa Coffee Gennaro Pelliccia has insured his tongue for £10m with Lloyd's of London.
Goldman Sachs, Deutsche Bank monster beneficiaries of AIG payout- report
Goldman Sachs and Deutsche Bank have been named as two of the biggest beneficiaries of the downfall of AIG, the Wall Street Journal has reported.
Higos offers thatched property cover
Higos Insurance Services has launched a new insurance policy for owners of thatched properties.
China should establish catastrophe insurance - report
China should establish catastrophe insurance as soon as possible, Wei Yingning, vice-chairman of the China Insurance Regulatory Commission is reported to have said Sunday.
IIB calls for greater representation for brokers
The Institute of Insurance Brokers (IIB) is becoming "increasingly uncomfortable with the regulation of insurance mediation being lumped together with that of banks" according to Barbara Bradshaw, its chief executive.
IIB slams FSA on fees and levies
The Institute of Insurance Brokers is becoming "increasingly uncomfortable with the regulation of insurance mediation being lumped together with that of banks" according to Barbara Bradshaw, its chief executive.
Liberty's reinsurance book sees net written premiums rise
The reinsurance book Liberty International Underwriters saw net written premiums jump 37% over the course of the last three months of 2008, the company said.
Dual promotes MD to executive chairman role
Dual Corporate Risks has promoted managing director Russell Kilpatrick to the newly created position of executive chairman. The new role will enable him to focus on exploring strategic growth opportunities both in the UK and internationally.
Broker targets buys as its profit increases to £7.6m
Carole Nash has posted pre-tax profits of £7.6m (£6.3m) on turnover of £25m (£24.9m) for its last financial year ended 31st December 2008. It attributed the growth to the launch of ancillary products, increased operational efficiencies and a major…
Swiss Re chair steps down a year early
Peter Forstmoser, chairman of the board of directors of Swiss Re, has decided to resign from the Board. He is to be succeeded by Walter B. Kielholz, who was up to now vice chairman.
Hiscox buoyed by reinsurance rate hikes
Lloyd's insurer Hiscox has reported a profit before tax of £105.2m in 2008 (2007:£237.2m) on gross premiums written of £1147.4m (2007:£1198.9m). The group combined ratio improved to 76.1% (2007: 84.4%).
Chaucer: it will take time to decide whether a bid will be forthcoming
Chaucer this morning reported an underwriting profit before investment income of £33.0m (2007: £75.5m) for 2008 on gross written premiums up 26.9% to £741.0m (2007: £584.1m). Its net earned premiums were up 23.1% to £547.2m (2007: £444.5m) and it…
Brit favours Netherlands as redomicile location
Brit Insurance this morning confirmed the Netherlands had been identified as the preferred domicile of the group's holding company, subject to requisite clearances and approvals. The news came as it reported a profit before tax £89.2m (2007: £191.2m) on…
Brit Insurance profits halve as it eyes Netherlands move
Brit Insurance's full-year pretax profits halved during the course of 2008 as the company eyed a move of domicile to the Netherlands.
Swiss Re chairman to resign
Swiss Re chairman Peter Forstmoser, said he will resign from the board of the embattled Swiss reinsurer.
Bupa releases summary of critical illness claims
Bupa has said that it paid out an average benefit of £93 000 to consumers claiming on their critical illness (CI) policies.
Biba says FSA fee structure is inequitable
The British Insurance Brokers' Association has responded to the Financial Services Authority consultation paper on its proposed fees and levies for 2090-10 by demanding change.