Regulation
Solvency II - The final frontier
Business Technology
UK insurer Congregational and General's ratings downgraded by S&P
UK general insurer Congregational and General has had its counterparty credit and insurer financial strength ratings lowered to 'BB+' from 'BBB-' by ratings agency Standard and Poors, with the rating placed on to Credit Watch with negative implications.
(Re)insurers fingered for 'insuring repression' in Burma
The Burma Campaign UK has fingered some of the world's biggest insurers, accusing them of facilitating the "flow of billions of dollars to the Burmese regime, money that hasn’t benefitted Burma’s people and has instead been used to finance campaigns of…
Liverpool Victoria latest to be hit by FSA enforcement
Liverpool Victoria’s banking arm has been become the latest firm to fall foul of the Financial Services Authority’s (FSA) investigation into payment protection insurance (PPI) selling practices.
Glacier Re takes specialty treaty underwriter from Ace
Glacier Re, the European reinsurer, has announced the appointment of Doris Pöpplein as specialty treaty underwriter.
Endurance Q2 net income drops 24%
Endurance, the Bermuda-based (re)insurer, said second quarter net income dropped to $103.3m, down from $135.3m this time a year ago, heavily impacted by adverse crop conditions in the first half of the year.
Simplyhealth to combine trading divisions
Simplyhealth has announced that it will be combining all its trading divisions – BCWA, Healthsure, HSA, LHF, Totally Active and Vitality Healthcare - into one entity known as Simplyhealth, predicting that the process will be completed over the next two…
AM Best places XL Capital ratings under review with negative implications
AM Best has placed the financial strength rating of A (Excellent) and issuer credit ratings of A of XL Capital Group and its members under review with negative implications following the company’s recently announced agreement with security capital…
Bermuda Monetary Authority welcomes XL - SCA announcement
The Bermuda Monetary Authority said it welcomed the agreement between XL Capital and SCA, which will see XL effectively end its reinsurance agreements with the company.
Burma protestors name and shame insurers
The Burma Campaign UK has today published a new report naming and shaming insurers it claims have facilitated the flow of billions of dollars in to the troubled country.
Former insurance boss given FSA retail markets role
The Financial Services Authority has appointed former Lloyds TSB general insurance head Jon Pain as its new managing director of retail markets.
FSA appoints banking big hitter to replace Briault
The Financial Services Authority (FSA) has appointed a new managing director of Retail Markets to replace Clive Brialt who stepped down following the regulatory inefficiencies surrounding the near-collapse of Northern Rock.
Hastings hammered by TCF fine
Beleaguered direct provider Hastings has been fined nearly three quarters of a million pounds for failing to treat its customers fairly.
Hastings fined £735 000
The Financial Services Authority has fined Hastings Insurance Services £735 000 for failing to treat its customers fairly in relation to cancelling around 4550 incorrectly priced car insurance policies.
Aon's McGill in transparency call
Aon has urged the New York insurance department to put in place comprehensive transparency and consent standards that apply to all insurance producers conducting business in the state.
FSCS dishes out £46m in insurance claims
The Financial Services Compensation Scheme paid out a total of £82m in compensation claims for 2007/08.
LAM attracts new member ahead of court battle
London Authorities Mutual says it expects a recent High Court ruling to be overturned as Islington Borough Council joins its ranks.
FSA questions 'consequential loss' phrase
The Financial Services Authority (FSA) has published a statement on the use of the phrase 'consequential loss' in general insurance contracts.
Max Capital buys Imagine's Lloyd's operations for £11m cash
Max Capital said it has entered into an agreement to acquire Imagine Lloyd's and Imagaine Lloyd's operations in Denmark and Japan from Caribbean-based (re)insurer Imagine for £11m cash. The agreement also includes the acquisition of Imagine Lloyd’s…
Amlin opens office in Illinois, US
Amlin has confirmed it is to establish a representative office in Chicago.
Amlin to open up Illinois branch office
Amlin, the Lloyd’s (re)insurer, is to establish a representative office in Chicago. Amlin Illinois Inc, will work within the existing Lloyd’s infrastructure, utilising the Lloyd’s licence in Illinois to write admitted business which may not otherwise…
FSA Annual Public Meeting - Hector Sants' keynote speech
Hector Sants - FSA Introduction The last year has been difficult for the FSA. Perhaps the most challenging since its creation ten years ago. You should be in no doubt we regret the events surrounding Northern Rock.
Time to test yourself
A selection of questions from various past-CII qualification papers
A temporary release
Reserve releases