Regulation

Former AIG COO to take over as FSA insurance boss

The Financial Services Authority has appointed Ken Hogg, currently interim chief financial officer at MGM Assurance, as insurance sector director. He will start at the FSA on Monday 6 July and will report to Jon Pain, FSA managing director retail markets.

AM Best downgrades Puerto Rican reinsurer

US ratings agency AM Best downgraded the financial strength rating to B+ (Good) from B++ (Good) and the issuer credit rating to "bbb-" from "bbb" of Puerto Rican life reinsurer Popular Life Re. The outlook for both ratings is stable.

Mutual chair writes to MP after Court of Appeal ruling

Incoming Communities and Local Government Secretary John Denham has received is a letter from London Authorities Mutual chairman Nathan Elvery calling for legislation to clarify the wellbeing powers. It follows the ruling this week in the Court of Appeal…

Marsh reacts to WHO pandemic decision

Following yesterday's decision by the World Health Organization to raise its H1N1 influenza pandemic alert to Phase 6, its highest level, Marsh has recommended that all organisations continue to focus on potential economic and jurisdictional issues in…

Ferma elects new president

Peter den Dekker, corporate insurance risk manager at Dutch multi-national Stork, has been elected President of the Federation of European Risk Management Associations. He took over from Marie-Gemma Dequae, whose mandate came to an end after four years…

Sesame calls for FSA licensing system

Sesame is urging the FSA to introduce a licensing system as part of its RDR proposals that would enable the advice profession to retain valuable experience and recruit new talent as part of an orderly transition to higher industry standards.

HCC joins govt scheme

HCC has joined Euler Hermes, Atradius and Coface as a provider of the government's trade credit insu...

Appointment at KPMG

KPMG has appointed Karen Newbury as a director in its restructuring insurance solutions practice. ...

FSA fine rise

The Financial Services Authority issued more than £27m in fines in 2008/09, including almost £7m to ...

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