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AIG confirms plan to float Asian arm
AIG has confirmed that it is looking to float its Asian insurance subsidiary AIA on the Hong Kong Stock Exchange.
JLT secures BAA broking contract
Jardine Lloyd Thompson Limited has been appointed by BAA Airports for insurance broking services on its new construction facility, wrapping up all the construction activities at their UK airports (excluding Gatwick) for a minimum period of 5 years.
AIG downgraded by Fitch
Fitch Ratings has downgraded various AIG ratings, including the issuer default rating to 'BBB' from 'A' and the insurer financial strength ratings on the company's insurance subsidiaries.
Airmic outlines potential conflicts of interest in new guidance
The Association of Insurance and Risk Managers has published its own guidelines for commercial insurance buyers in their dealings with brokers. They highlight potential conflicts of interest and how they can be identified by risk managers.
UIA extends Property Consortium links
UIA has retained Property Consortium as a building repair network supplier.
Former Aon chairman joins JLT
Jardine Lloyd Thompson has appointed Bill Gloyn to its real estate team.
Pembroke managing director leaves - sources
Mark Butterworth, managing director of Pembroke Managing Agency, the Ironshore-owned Lloyd's (re)insurer, has left the company, Reinsurance has learned.
The Hartford given bailout participation permission
The US Treasury has given struggling US giant The Hartford permission to participate in the Treasury's Capital Purchase Program.
Former QBE and Aspen financial institutions head moves to HSBC
HSBC Insurance Brokers has appointed Adrian Fox to head up its financial institutions practice. He will be responsible for crime and professional liability insurance services for banks, insurance companies, fund managers, security houses, and public…
RSA reports alarming rise in stress levels in UK workforce
Stress levels amongst UK workers are soaring towards an all-time high as a result of the economic crisis and will lead to an increase in workplace injuries at a cost of £673m to industry, according to research released today by insurer RSA.
Lancashire holds back capacity awaiting rate rises
Lancashire this morning reported its gross written premiums had decreased by 23.5% in the first quarter of 2009 compared to the same period in 2008 to $142.8m.
Legal & General increases ONEderwriting for Group Life to £5 million
Legal & General has increased the maximum amount that executives can be re-underwritten for, without further underwriting, on their ONEderwriting scheme from £3m to £5m.
Norwich Union Healthcare launches new international PMI product
Norwich Union Healthcare has announced that it will shortly be launching a new modular international PMI product to replace its existing Global Care policies.
Biba News 2009: 2010 conference moves to London with new look
Next year's British Insurance Brokers' Association Conference will take place in London and be spread over two, not three days, Professional Broking has learnt.
Biba 2009 News: FSA head admits it has been regulating on the cheap
The Financial Services Authority should have acted more quickly in the banking crisis and has been guilty of supervising some of the larger firms "on the cheap".
XL boosts London aviation team with Catlin hires
XL Insurance has hired three new underwriters from Catlin for its London-based aviation business.
QBE signs five year deal for personal injury solution
QBE has signed a five year contract with ISO to use its Claims Outcome Advisor solution, designed to provide support to claims handlers in the valuation of personal injury claims.
Benfield energy specialist returns to Marsh to lead team
Marsh has appointed Nabil Khawaja to lead its global energy practice's London-based offshore construction team. He will report to construction leader, Paul Nicholson.
Biba News 2009: ULR launches Commercial Plus policies
ULR today announed the launch of its new Commercial Plus policies at the British Insurance Brokers' Asscoiation Conference in Manchester.
Biba News 2009: Open GI Product Clinics awarded CII accreditation for second year
Open GI's free of charge broker training sessions have been accredited by the Chartered Institute of Insurance for a second year.
Mondial reports 9.6% uplift in profits for 2008
Mondial Assistance has reported sales of Eur 1.597bn for 2008, an increase of 8.6% at a constant exchange rate over the 2007 and a net profit of Eur 62.6m, an increase of 9.6%. It recorded a combined ratio of 94.9, or a 0.2 decrease compared to 2007.
Biba News 2009: BIBA chief warns "cumbersome regulation will place insurance sector and UK economy at risk."
The British Insurance Brokers' Association chief executive, Eric Galbraith, has called on the Government to recognise the value of the insurance industry and to help it respond to the global challenges. Speaking at the annual BIBA conference in…
Biba News 2009: Conference attracts significant numbers on day one
The British Insurance Brokers' Association conference in Manchester look set to be the best attended yet.
Lloyd's insurer responds to private equity approach
Lloyd's insurer Chaucer has responded to this announcement made this morning Pamplona Capital Management with regard a cash offer for a stake in the business.