Regulation
Lehman brothers launches insurer risk financing tool
Global investment bank Lehman Brothers today announced that its subsidiary, Libero Ventures, has received authorisation from the Financial Services Authority and is to begin trading.
New York regulator calls for collateral rule to be scrapped
New York State Insurance Department, insurance superintendent Eric Dinallo has proposed the abolition of rules forcing non-US domiciled reinsurers to post collateral equal to their liabilities. After a long faught campaign against the rules, it is hoped…
Sants discusses FSA retail agenda
In a speech to the Association of Private Client Investment Managers and Stockbrokers conference, Hector Sants, chief executive of the Financial Services Authority, touched on key aspects of the regulator's agenda for the retail market, including: • The…
NAIC mulls mutual recognition reinsurance licensing
The National Association of Insurance Commissioners (NAIC) has unveiled a proposal calling for regulatory changes to allow for single-state licensing of US reinsurers, and encouraging the NAIC to develop a reinsurance supervision review department (RSRD).
Appointment at Financial Services Authority
The Financial Services Authority has appointed Chris Pond, currently chief executive for the Nationa...
CRS holds talks with Lloyd's as run-off looms
The industry watchdog and Lloyd's have held talks with CRS Group in recent weeks as the broker final...
Solvent run-off sector shrinking, warns KPMG
The solvent run-off sector has been told to diversify and tone down its "aggression" after it emerge...
FOS opens up for debate
Lord Hunt of Wirral has accepted the invitation of MPs to host debates on the future of the financia...
Flooding - High but not so dry
Public Sector Focus
FSA mulls move to probe rejected claims
Insurers could be asked to detail the number of claims they have rejected as part of the regulator's...
Appointment at Marsh
Marsh has appointed James Elder to the new position of chief risk officer at Marsh UK. Mr Elder join...
Appointment at Hampden
Sir Adam Ridley has joined Hampden's board. After a career as a Whitehall economist, Sir Adam was ch...
MDG buys from parent
Medicals Direct Group has been bought from its US parent by a management team led by the company's c...
Russian insurance market to double
The value of the Russian insurance market is set to double to US$ 41 billion over the five-year period 2006-2010, according to a new Lloyd's Market intelligence report.
Russian insurance market set to double by 2010 says Lloyd's report
The value of the Russian insurance market is set to double to $41bn over the five-year period 2006-2010, according to a Lloyd's Market intelligence report.
Axa corporate boss calls for rating stability
A leading personality in the international insurance industry has said that if the current soft market cycle taking hold is to flatten out, then premium rates must be stabilised if insurers are to achieve stable and adequate pricing. And that means…
Transamerica continues EU expansion with Madrid office
Life reinsurer Transamerica Re has announced a continuation of its expansion into the European life reinsurance market with the opening of a representative office in Madrid
Ex head of compliance at UBS joins KPMG
KPMG Forensic has recruited Brian Dilley as a partner within its anti-money laundering and financial services practice. Mr Dilley joins from UBS Investment Bank where he spent three years, latterly as a managing director and global head of AML compliance.
RPC signs up reinsurance clients for online contracts service
City law firm Reynolds Porter Chamberlain has signed up reinsurers Glacier Re and Hiscox for its new “ReWord” internet service that allows reinsurers to cut the time they spend checking reinsurance contracts and identifies legal risks.
FSA finds improvements in risk-management
The Financial Services Authority has found major improvements in risk-management by the insurance industry.
Claims firm completes MBO
Stanmore-based Medicals Direct Group has been bought from its US parent by a management team led by MDG chief executive officer Mike Benton.
Broker banned from trading
An insurance broker has been stopped from conducting regulated activities by the Financial Services Authority (FSA) after two brokers reported that he had left clients uninsured.
Absenteeism not growing fonder for older workers
New research has revealed that older workers demonstrate greater integrity than younger colleagues w...
Inter Resolve claims launch
Inter Resolve has launched its Legacy Claims Scheme, a telephone mediation service to assist insurer...