Latest News – Page 2068
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News
Lloyd's rating upgraded to A+
Lloyd's received a boost this week after Standard & Poor's upgraded its financial streng-th rating to 'A+' from 'A'. Ratings agency Standard & Poor's (S&P) said the move was due to "unstoppable momentum behind improving London market business processes" and the successful completion of phase 1 of the Equitas transaction.Standard ...
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Claims firm numbers to fall under regulation
The number of UK claims management companies will radically fall under regulation, the Claims Standards Council (CSC) has warned.Claims management regulation took effect this week, with claims regulator Mark Boleat promising a crackdown on rogue firms. Staffordshire Trading Standards, which is policing the sector would be "identifying the problem areas ...
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Insurers want police to rethink art budget cuts
Fine art insurers are calling on Scotland Yard to reconsider its annual budget after cuts forced a scaling down of the arts and antique squad.It is understood that police have failed to find the private money needed to fund the unit after its £300,000 budget was sliced in half earlier ...
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Aviva replaces Machell as NU GI chief exec
Simon Machell, chief executive of Norwich Union's (NU) general insurance business, will be replaced in an overhaul of the Aviva group executive structure. Machell will take up a post in Asia, leading Aviva's Asian and Australian businesses. He will be replaced by Igal Mayer, chief executive of Aviva Canada. The ...
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Snowball to lead Towergate IFA drive
Market surprised by ex-NU chief's move to consolidator giant
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News in brief…
FSA regulations welcomedThe FSA outlined its proposals for a principles-based regulatory regime. Deloitte welcomed the move but said that clarity was needed "about the results that firms should be aiming to deliver". The ABI said the move would lead to "better outcomes for both consumers and financial services companies". Firms ...
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Polaris plans more Imarket deals
Polaris is looking to specialist insurers to join the e-commerce platform Imarket. It said it was in "advanced talks" with a "good number" of insurers. Peter Knowles, strategy and marketing director at Polaris, said: "We are tending to talk with the more specialist insurers, including D&O and professional indemnity." This ...
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Archive
R&SA partners with Swinton to offer pet insurance
Royal & SunAlliance (RSA) has announced a deal with Swinton to offer pet insurance to its customers...
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News
Allianz Cornhill targets D&O market
Allianz Cornhill has entered the directors' and officers' (D&O) insurance market, hoping to tap into the burgeoning demand from SMEs.D&O will be available as part of Allianz's Commercial Select product, and is aimed at the mid-corporate sector, a market Allianz sees as undergoing significant growth.SMEs are buying D&O cover at ...
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News
IGI to be sold to US firm 'within days'
IGI Group could be sold within days to US insurer Amtrust Group after months of negotiations.According to a source close to the company, the sale could be completed "any time now", as meetings continued this week.If completed, Nasdaq-listed Amtrust, the multinational property and casualty insurer, will be the third company ...
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News
Swedish group buys Pet Partners
Pet broker PetPartners has been acquired by Agria Animal Insurance, Sweden's largest pet insurer. Agria, a mutual insurer with a 62% share of the pet insurance market in Sweden, said the move was the "first step" in its strategy to grow internally. But it said it had no plans to ...
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News
Smart & Cook acts to assert freedom
AXA's broking operation will take fresh steps to assert independence after Smart & Cook buy
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Online only
Chubb creates new divisional role
Paul Chapman has been named new head of personal insurance Chubb Insurance Company of Europe
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Online only
Director of Lloyd's market infrastructure joins Prudential
Lloyd's has announced that Steven Haasz has decided to leave the market to join Prudential...
