Xchanging deal
Xchanging Ins-sure Services has won the contract to supply back office services and a new underwriting solution to the European arm of US insurer WR Berkley.
WR Berkley Insur ...
Xchanging deal
Xchanging Ins-sure Services has won the contract to supply back office services and a new underwriting solution to the European arm of US insurer WR Berkley.
WR Berkley Insurance (Europe) said that by partnering with Xchanging it would be using the latest technology to manage its business and allocate personnel more efficiently.
Zurich Bolton move
Zurich North America and Zurich London have named their first trade credit underwriter in London.
George Bolton, who previously worked in Zurich's credit insurance operation in Washington, will develop medium-term trade credit programmes for exporters and financial institutions doing business in emerging markets.
Sovereign results
Bermuda-based Sovereign Risk Insurance recorded gross written premium of $60.5m, net written premium of $48.6m and underwrote 22 new political risk insurance policies in the 12 months to June.
Sovereign is a political risk joint venture between XL and Ace.
Acquisition fever
Acquisition is in the air at loss adjuster Claims People Group. The company recently received the backing of three institutional investors in raising £375,000 through a share issue carried out last week. Supported by ISIS Equity Partners, City Equities and Hargreaves Hale, the company is thought to be about to announce its first buy-out.
Refinery fire
Investigations are still on-going into the cause of an explosion and fire that broke out at one of Petro-Canada's refineries west of Toronto last week.
The plant is one of four Petro-Canada refineries. The fire at the Mississauga refinery started in the hydro treatment unit and was brought under control within half an hour.
According to reports, Lloyd's and a number of US-based insurers are exposed.
