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Montreal Convention called into question by aviation liability ruling
A UK judge's ruling on the preliminary issues in a passenger aviation claim could have far-reaching ramifications for insurers, after it was decided that the Montreal Convention may not provide an exclusive remedy in awarding compensation for air disaster victims.
26 April 2010
Gallagher pushes steep rise in supplemental commissions
AJ Gallagher has delivered better-than-expected first quarter results amid tough conditions for brokers, with its bottom line boosted by growing supplemental and contingent commissions.
26 April 2010
Aerospace premiums continue steady descent
Aerospace insurance premiums are set to continue their decline in 2010, marking the fourth consecutive year of softening, according to Aon's latest aerospace insurance markets outlook report.
26 April 2010
London condemns IMF levy proposals
Senior figures in the London insurance community have criticised an International Monetary Fund (IMF) proposal to include (re)insurers in a global banking levy.
26 April 2010
Brussels pragmatism waters down Solvency II
The latest Solvency II proposals are significantly more lenient than the terms recently set out by the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops), according to analysts.
26 April 2010
Blumenthal champions ‘kickback’ commission victory
Connecticut Attorney General Richard Blumenthal has heralded a court victory against a subsidiary of US broker and financial services provider Wells Fargo as a resounding message to insurance brokers to be open and honest with clients.
26 April 2010
B&B on acquisition trail despite 4% Q1 revenue fall
Florida-headquartered independent broker Brown & Brown (B&B) has reiterated its commitment to acquire other agencies as it revealed that first quarter revenues declined 4 percent.
26 April 2010
Marsh UK counters resignations with HSBC promotions
As Marsh looks to bed down its acquisition of HSBC Insurance Brokers Ltd (HIBL), it has announced a reorganisation of its UK and Ireland mid-market business that places staff from the acquired broker in key positions.
26 April 2010
Cat bond issuance 50% down year-on-year in Q1
A sluggish first quarter saw total insurance-linked securities (ILS) issuance of $300mn - almost half the levels over the same period last year - according to Aon Benfield Securities.
26 April 2010
R&Q acquires run-off French reinsurer
Expansive legacy and services specialist Randall & Quilter (R&Q) unveiled another modest acquisition last week, with a EUR3.2mn deal to take over French reinsurer La Licorne Compagnie de Réassurances.
26 April 2010
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