BIBA In FSA Frustration
by Stewart Douglas
Story link: BIBA In FSA Frustration
The British Insurance Broker Association has today declared its anger following the publication of the Financial Service Authority’s recent study into the way in which commercial insurance is sold and operated in the UK after its submission to the authority previously on the issue at hand.
The leading brokerage representative body has announced today that it […]
L&G & Paternoster on pension acquisition trail
by Gill Montia
Story link: L&G & Paternoster on pension acquisition trail
Paternoster, the insurance company that specialises in acquiring final salary/defined benefit company pension schemes, has taken over the £150 million pension scheme of Lasmo, the UK oil exploration company.
Under the terms of the agreement, all members’ pension benefits are guaranteed by Paternoster and scheme participants have been assured their pensions will be paid in full.
The […]
Liberty appoints new assistant VP to Dubai
by Richard Kilner
Story link: Liberty appoints new assistant VP to Dubai
Shazia Aslam Rafique has been appointed to the position of Assistant Vice President for Marine, Energy and Construction by Liberty International Underwriters (LIU).
Rafique will begin her new role in early 2008, working from the firm’s Dubai office in an effort to boost the firm’s business in the Middle East. She will report directly to Elie […]
Marsh names two new vice presidents for CMT Practice
by Richard Kilner
Story link: Marsh names two new vice presidents for CMT Practice
Marsh has appointed Hutton Swinglehurst as senior vice president and Matthew Hogg as vice president of its global Communications, Media and Technology Practice (CMT).
They will both be based in London and report directly to Fredrik Motzfeldt, the firm’s CMT Practice leader for Europe, the Middle East and Africa.
Swinglehurst leaves behind the position of corporate development […]
Sandler elected as chairman of Ironshore
by Richard Kilner
Story link: Sandler elected as chairman of Ironshore
Ironshore has announced that the result of its election to the position of chairman of the board has been won by Ronald Sandler.
Sandler joined the board this October, and succeeds Bob Clements as chairman. Clements had been holding the role in a temporary capacity since Ironshore was founded in the latter half of 2006. He […]
Aon names new Isle of Man director
by Richard Kilner
Story link: Aon names new Isle of Man director
Ann Collins has been appointed to the board of Aon (Isle of Man) Limited.
Collins will have responsibility for the firm’s day to day running. She brings with her over three decades of experience in the financial services industry.
She has been with Aon for the last four years, and will retain her present position as head […]
Wii enthusiasts should check household cover
by Gill Montia
Story link: Wii enthusiasts should check household cover
As the scramble to secure a Nintendo Wii before Christmas Day continues, Halifax Home Insurance is warning that major damage can be caused to televisions by those using the game.
When playing a Nintendo Wii enthusiasts can launch themselves at the television screen, causing damage to the set and any other household items in the vicinity.
Others, […]
AIG seek early Court date to challenge Greenberg holding
by Gill Montia
Story link: AIG seek early Court date to challenge Greenberg holding
AIG, the US insurance group, is awaiting news this week of whether a court case over a former chief executive’s holding in the company will be brought forward.
Hank Greenberg left AIG in February 2005 but continues to hold a 13% controlling interest in the company.
AIG has challenged his right to control $20 billion of the […]
Admiral Wins Legal Support Of Lloyd’s Business Transfer
by Stewart Douglas
Story link: Admiral Wins Legal Support Of Lloyd’s Business Transfer
Insurer Admiral Group has today won a landmark legal victory in securing a court order allowing the takeover of Lloyd’s Syndicate 2004, in line with the provisions of the Financial Services and Markets Act 2000 which regulates trade in equity.
Syndicate 2004 had previously underwritten a proportion of the Admiral Group’s retained premiums over the course […]
Willis UK Exec Announces Growth Plans
by Stewart Douglas
Story link: Willis UK Exec Announces Growth Plans
The Willis Group has today suggested it looks to continue the expansion of its network with a statement from the chief executive of its UK and Ireland divisions saying the company would look to drive growth over 2008.
The significant insurance group, which sells across the world, was said to be looking to continue its strong […]
Four million suffer bad credit ratings
by Richard Kilner
Story link: Four million suffer bad credit ratings
Research by AXA has revealed that up to four million people have inflicted damage upon their credit rating that cannot be mended.
Millions have been blacklisted following an inability to get on top of their financial situation, and almost 25% of respondents are not even in financial turmoil.
According to AXA, the situation may even have worsened […]
Fears over ID theft grow: but measures can be taken to minimise the risk
by Richard Kilner
Story link: Fears over ID theft grow: but measures can be taken to minimise the risk
Over the course of this year anxieties centred on identity theft have doubled, according to American Express Insurance Services. Not only that, but it has also replaced the yob culture as the greatest worry for British women.
YouGov conducted a poll, surveying 2,000 people who were representative of the general population about their safety concerns in […]
Bond insurers look to reserves as Moody’s warns of shortfall
by Gill Montia
Story link: Bond insurers look to reserves as Moody’s warns of shortfall
MBIA, the bond insurer, has reported that it intends to increase its cash reserves.
The move follows a warning from Moody’s, the credit ratings agency, which has described the financial guarantor as “somewhat likely” to run short of funds.
The company is now “pursuing capital contingency plans”, which could include curtailing new underwriting and an issue […]
Ironshore Confirm Interest In Heritage
by Stewart Douglas
Story link: Ironshore Confirm Interest In Heritage
London Lloyd’s insurer Heritage Underwriting has today been announced as a desired takeover target for Bermuda based Ironshore, at a time where the firm has been subject to a number of approaches over the last year.
Heritage previously rejected an approach for takeover stating that it undervalued the business and assets of its business, implying initially […]
Heath Lambert Continue Scottish Expansion
by Stewart Douglas
Story link: Heath Lambert Continue Scottish Expansion
Insurance broker Heath Lambert has today announced it is to open offices in Scotland further to its current premises in Edinburgh and Aberdeen, in a move designed in keeping with Heath Lambert’s growth strategy planned for the next few years.
The move comes following the appointment of Mark Bourke as head of the operations in Edinburgh, […]
Wray Appointed To IRM
by Stewart Douglas
Story link: Wray Appointed To IRM
The Institute of Risk Management has today announced the appointment of a new high profile chairman, following ratification by the majority of members at today’s AGM, highlighting the company’s dedication to continuing to maintain management strength and rotation.
Appointed for a one year tenure only initially, with options to increase duration at the next AGM, Simone […]
CII Suggest New Financial Retail Regulator
by Stewart Douglas
Story link: CII Suggest New Financial Retail Regulator
The CCI Group has today called for a unified professional board to govern malpractice and principles within the retail financial sectors, with the power to take immediate actions against offenders to underline the quality of financial service provisions to consumers.
In its fifth response paper to the FSA consultancy document, the CII today suggested that a […]
Nuffield and Mobile Doctors agree deal
by Richard Kilner
Story link: Nuffield and Mobile Doctors agree deal
Nuffield Proactive Health and Nuffield Diagnostics have a new, exclusive nationwide contract with Mobile Doctors Group.
All the rehabilitation, treatments and diagnostic services of Mobile Doctors will be catered for by Nuffield Diagnostics.
The deal will ensure that the insurer has a fixed price regardless of how many sessions are necessary, and that the claimant will be […]
Pickford named as Fortis’ new finance director
by Richard Kilner
Story link: Pickford named as Fortis’ new finance director
Helen Pickford has been named by Fortis as the firm’s new finance director.
In her new position Pickford will be responsible for all facets of finance, collaborating closely with Julian Harvey, the chief financial officer.
In addition to this she will become a member of the Fortis Insurance Board, and as such she will have a strong […]
Aon recruits business development consultant
by Richard Kilner
Story link: Aon recruits business development consultant
Bob Matthews has been appointed by Aon Risk Control Consultants to serve as the firm’s new business development consultant.
Matthews is a member of the Business Continuity Institute, and has trained as a mechanical engineer.
Previously Matthews was employed by O2 where he spent eight years as their head of risk management.
In this role Matthews developed […]
