Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
Business Moves
Nov 4 2013 // Aspen Re Bermuda-based Aspen Reinsurance, the reinsurance segment of Aspen Insurance Holdings Ltd., has formed Rock Re, a new dedicated brokered property facultative unit within its U.S. operation. Rock Re will build on...
UPDATE: AIR Worldwide Reports on European Windstorm Christian
Oct 30 2013 // Catastrophe modeling firm AIR Worldwide continued its analysis of Windstorm “Christian,” which smashed into southern Britain Monday, October 28, knocking over trees, flooding lowlands, and disrupting land, sea,...
UK Market Offers Hints on How Insurers May Treat E-Cigarettes
Oct 29 2013 // For several years now now, a lot of people involved with insurance—me included —have been puzzling out the ways that new tobacco products like e-cigarettes and snus might impact life and health insurance markets. To...
Europe Battered by Winter Storm Christian: AIR Worldwide Analysis
Oct 29 2013 // Catastrophe modeling firm AIR Worldwide reported that “winter storm ‘Christian’ (known as ‘St. Jude in the United Kingdom) battered the western shores of southern Great Britain early on Monday,...
Storm Kills Five in UK, Netherlands; Causes Power Cuts, Travel Chaos
Oct 28 2013 // Hurricane strength winds battered Britain and the Netherlands on Monday, killing five people, cutting power and forcing the cancellation of hundreds of flights and train journeys before the storm barreled further into...
U.K. Braces for Hurricane-Force Winds in Worst Storm Since 1990
Oct 25 2013 // Southern England is girding for 90 mile-per-hour winds as the biggest storm since 1990 is forecast to fell trees and damage buildings. Rain and high winds are predicted to lash the area on the evening of Oct. 27 through to...
U.K. Regulator Scrutinizes Impact of Capital Influx on Insurers
Oct 3 2013 // British regulators are scrutinizing the impact of the wave of capital from investors such as hedge and pension funds on the insurance industry. “The availability of this additional capital inevitably affects the...
Best’s UK Non-Life Report Highlights ‘Challenging Market Conditions’
Sep 24 2013 // According to a new report from A.M. Best Co., the U.K. non-life insurance sector “faces mounting pressures, ranging from regulatory changes and competitive market conditions to an uncertain economic environment and...
UK Regulator Investigates 2 Life Insurers over Banned Sales Commissions
Sep 19 2013 // Britain’s financial regulator is investigating whether two life insurance companies breached new rules that ban the offering of commissions to financial advisers for selling their products. The Financial Conduct...
U.K. Crime Agency Won’t Name Insurers Using Illegal Sources
Sep 11 2013 // The U.K.’s Serious Organised Crime Agency refused to reveal the names of law firms and insurance companies that may have hired convicted private investigators who illegally gained information. SOCA declined to...
U.K. Probing 2 Banks Over Payment Protection Insurance Claims
Sep 10 2013 // The U.K.’s markets regulator is investigating allegations that banks are dismissing claims for payment protection insurance compensation. The Financial Conduct Authority has at least two separate probes in progress,...
AJ Gallagher to Acquire UK’s Giles Group of Companies
Sep 4 2013 // Arthur J. Gallagher & Co. announced that it has signed an agreement to acquire the Giles Group of Companies, headquartered in London, England. The transaction is subject to regulatory approval and is expected to close...
Lawsuit Against Sotheby’s Claims $218 Painting Is Actually a $16M Caravaggio
Aug 29 2013 // A painting bought by a British naval doctor for 140 pounds ($218) in 1962 may now be worth as much as 10 million pounds if his descendant can prove it’s a Caravaggio. The authenticity of “The Cardsharps”...
U.K. Banks to Pay $2 Billion for Card-Insurance Compensation
Aug 22 2013 // Britain’s biggest banks will pay as much as £1.3 billion ($2 billion) to compensate customers wrongly sold insurance to cover credit-card and identity theft. A group of 13 banks and credit-card issuers, including...
Ratings Recap: Electrical Contractors, Al-Sagr, Alliance (UAE)
Aug 16 2013 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based Electrical Contractors’ Insurance...
Applied Systems Acquires Insurecom in U.K.
Aug 14 2013 // University Park, Ill.-based insurance software provider Applied Systems Inc. has acquired Insurecom, a software and connectivity solutions company focused on the insurance industry in the United Kingdom. Under the deal...
Allied World Europe in Strategic Agreement with UK’s Gravity Underwriting
Aug 14 2013 // Allied World Assurance Company Holdings, AG, which is based in Switzerland, announced that its subsidiary, Allied World Assurance Holdings (Ireland) Ltd, has entered into an agreement with Gravity Underwriting Limited for...
DriveFactor, Admiral Group to Offer Usage-Based Insurance Throughout UK
Jul 24 2013 // DriveFactor has partnered with Admiral Group plc to expand usage-based insurance (UBI) offerings throughout the U.K. Through this partnership, DriveFactor will power a version of Admiral’s Bell Safe Driver policy,...
Allstate Selling Life Business to London Group
Jul 18 2013 // Clive Cowdery, who earned a fortune cutting deals that consolidated the U.K. life insurance industry, is making a foray into the U.S. by buying a business from Allstate Corp. for $600 million (394 million...
Battery in Honeywell Locator May Have Caused 787 Fire: Source
Jul 16 2013 // Investigators are looking into whether a fire on a Boeing Dreamliner in London last week was caused by the battery of an emergency locator transmitter built by Honeywell International Inc, according to a source familiar...
