Smart & Cook firm
Credit Insurance Consultants has been launched by broker Smart & Cook.

The company will begin trading on 29 July. It will be led by managing director Terry Rees, who joins …

Smart & Cook firm
Credit Insurance Consultants has been launched by broker Smart & Cook.

The company will begin trading on 29 July. It will be led by managing director Terry Rees, who joins from the Bartlett Group, and director Mike Demaine, who joins from Bridge Insurance Brokers in Manchester.

Tawa buys CNA Re
Tawa UK has bought CNA Reinsurance, the London-based arm of US financial services company CNA Financial Corporation, Illinois.

Tawa has signed a binding "share purchase agreement" to secure the company, pending approval by the UK's Financial Services Authority (FSA) and the Illinois Insurance Department.

CNA said last autumn that it would consolidate its reinsurance operations, operating solely out of the US and, therefore, seek a buyer for CNA Reinsurance Company (UK).

CNA announced the company had made a loss in anticipation of the sale but does not expect to record an additional loss under the terms of the agreement.

The share purchase agreement includes all business underwritten by CNA Reinsurance Company (UK).

Aon chief fright
Rumours that Aon chief executive Dennis Mahoney suffered a heart attack and is out of action for three months are not true.

An Aon spokeswoman said that ten days ago, Mahoney "felt unwell and was checked out at a clinic for chest pains."

Fortunately doctors said he had not suffered a heart attack. Mahoney will return to work next week.

Insurance Times wishes him a speedy recovery.