Regulation

S&P downgrades Gothaer Re

Standard & Poor's Ratings Services (S&P) has lowered its counterparty credit and financial strength ratings on Germany-based reinsurer Gothaer Rückversicherung AG (Gothaer Re) from 'A-' (strong) to 'BBB' (good).

XL gets Poland licence

XL Insurance Company (XLICL), part of XL Capital (XL), has received permission from KNUiFE, the Polish Insurance supervisory body, to carry out insurance activities in Poland. Following formal registration by the National Court of Poland the Polish…

Medniuk new chairman of IUA

The International Underwriting Association (IUA) has appointed Tony Medniuk as its new Chairman. Mr Medniuk is group chief executive of Global Aerospace Underwriting Managers. He takes over from Stephen Cane, chief executive of Alea London who has held…

IIB slams FSCS broker charges

The Institute of Insurance Brokers has hit out at the Financial Services Authority's Consultation Paper 04/04, stating that it is "totally opposed to the FSA proposal that the level of general insurance mediation compensation should be the same as…

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