XL rebrands
Bermudian insurer XL Capital is dropping the name Winterthur from the property and casualty commercial account that it bought from Winterthur Swiss Insurance in 2001. The operation is to be rebranded from XL Winterthur International to XL Insurance Global Risk, with the individual businesses all renamed by the middle of the year. The UK-based XL Winterthur International Insurance is now XL Insurance and the equivalent Swiss operation is now XL Insurance Switzerland.
PI picks Hiscox
PI Direct has announced that Hiscox will provide 100% capacity for its general professional indemnity business from March.
Hiscox will replace SVB, which has provided PI Direct with its cover for the last six years.
Hiscox claims the deal will allow it to become the UK's leading insurer for SME professionals in Europe.
The transfer will involve the equivalent of £8m gross premium income in the first year. PI Direct's existing book of solicitors business will remain with Alea London.
New claims system
Brian Johnson Insurance Brokers has launched a claims system called
CARISMA.
The system has been developed in accordance with the requirements of its NHS National Contract. Under the deal Brian Johnston will provide risk analysis for all Trusts and Special Health Authorities.
RMG system deal
North American underwriter Reinsurance Management Group (RMG) renewed a deal with Sherwood International to use its reinsurance management system.
Gerling downgrade
Ratings agency Standard & Poor's has reduced the financial strength ratings of German insurer Gerling to BBB from A.
