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Highly leveraged brokers risk downgrades
Highly leveraged insurance brokers and service providers are subject to high credit risk and may face downgrades, rating agency Moody’s Investor Services warned last week.
13 August 2007
Towergate grows premium despite softening market
The UK’s largest privately-owned insurance group, Towergate Partnership (Towergate) announced a 31 percent increase in gross written premium despite softening market conditions.
13 August 2007
MMC reports sluggish broking revenues
Marsh & McLennan Companies Inc (MMC) reported slow second quarter revenue growth in its broking division as new business wins were offset by the softening commercial (re)insurance market.
13 August 2007
Arch counterclaims Gen Re as bitter dispute continues
Bermudian Arch Capital Group has struck back at Gen Re in the latest round of the legal dispute over the departure of four Gen Re executives to Arch in April.
13 August 2007
Hampden vehicle aims for £15mn float
Lloyd’s investment vehicle Hampden Underwriting plc (HUP) is planning an August float on the London Stock Exchange’s Alternative Investment Market (AIM) in a bid to raise £15mn.
13 August 2007
HBOS recruits Aon UK COO
UK Bank HBOS plc has appointed the Aon UK chief operating officer Philip Gore-Randall to join the firm as part of a wider restructuring of its management.
13 August 2007
Berkley sets up Australian operation
Berkley Insurance Co, a subsidiary of US (re)insurer WR Berkley, is opening an Australian operation to write casualty facultative and treaty reinsurance.
13 August 2007
Bedford to head up Guy Carpenter’s UK fac broking
Reinsurance broker Guy Carpenter has appointed Rupert Bedford as head of broking for the UK operations of GCFac, the firm's dedicated facultative reinsurance unit
13 August 2007
Marsh set to take fees from insurers
Broking giant Marsh is set to resume taking fees from insurers for some of the services it provides customers.
13 August 2007
Flood losses rise to EUR158mn at Allianz
German (re)insurance group, Allianz has raised its estimate for the UK’s summer floods by EUR135mn to EUR158mn in total for June and July.
13 August 2007
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