Ace to open umbrella
Ace to open umbrella
Insurer Ace has denied that it is planning to merge its Lloyd's and London Market operations.
However, a spokeswoman confirmed that Ace would soon announce the formation of an umbrella company to promote closer working between Ace Europe in the London Market and Ace Global Markets at Lloyd's.
Van Ameyde subsidiary sold
International loss adjusting group Van Ameyde has sold 70% of its shares in the Dutch company Schade Alarm Service (SAS) to Europ Assistance Holding.
Van Ameyde, which has offices in Bromley, London and Edinburgh, retains the remaining 30% share and will be represented on the board of supervisory directors.
Willis plans NYSE float
Willis Group Holdings plans to float common stock shares on the New York Stock Exchange.
The group is filing a registration statement under the US Securities Act of 1933 in respect of the proposed offering.
Chief executive Joe Plumeri, who joined Willis six months ago after 32 years at Citigroup, has admitted that going public is something to “aspire” to.
But Kohlberg Kravis Roberts (KKR), the American company that purchased 74% of Willis shares in 1998 for £851m, claims it has no intention of selling.
The first stage of Lloyd's Claims Loss Advice and Settlement System (CLASS) has gone live.
The new technology allows claims advice, reports, reserves and settlements to be processed faster. It was developed by the London Processing Centre, and brokers can now submit Lloyd's claims electronically to underwriters.
CLASS is the first move towards implementing the claims aspects of the London Market Principles 2001, which aim to speed up the market.
Groupama Personal Insurances and One Stop Car shop have joined forces to provide a car for the Stolen Vehicle Intelligence Unit at West Midlands Police.
Until now, the Birmingham-based unit had to rely on sharing a vehicle with several other departments.
John Cahill buys Lockson
London brokers John Cahill & Co has acquired Lockson Insurance Consultants' book of business for an undisclosed sum.
The move comes after parent company Lockson Services decided to concentrate its resources on the core business of international freight forwarding.
Policyholders have been informed that all alterations, amendments and claims should be directed to John Cahill & Co.
Bennetts site is a hit
Motorcycle insurer Bennetts has received more than 300,000 visits to its website since its launch last month.
The site offers facilities to obtain quotes for its core product of bike insurance as well as other lines, such as personal accident, legal expenses and household cover.
GE for GISC
GE Financial Services is joining the General Insurance Standards Council (GISC).
The insurer is one of the leading credit and travel insurance pro-viders. It has 25% marketshare of payment protection insurance in the UK.
Workshops with FSA
The Financial Services Authority (FSA) is running a series of workshops to help firms understand and implement its new training and competence requirements. The requirements will come into effect when the FSA assumes its full powers and responsibilities later this year. The workshops will be presented by the FSA staff that developed the new requirements, with the first workshops in April and May relating specifically to administrative functions. They will cost £350 and be held at Canary Wharf, London, and in Edinburgh.
New extranet Axa service
Axa Corporate Solutions has launched Motor Fleet Cl@ims Reporting, an extranet service for its clients and brokers, which will be available through the company's e-solutions portal. Services available include key indicators for motor fleet insurance programmes, status reports and access to an information management tool that can produce tailored results. Data is updated monthly and checked before it is made available on the system.
Brake backed by Aon
Aon Motor accident Management and Motor Technology is backing the National Road Safety week by supporting a range of activities at the road show in Kingston upon Thames. There will be 13 road shows across the country, running from March 31 until April 6. Aon staff will support the activities of Brake, the voluntary sector road safety organisation.