Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
Fairfax Wins U.K. Court Decision in Odyssey Re Case
Jul 9 2003 // Toronto’s Fairfax Financial Holdings announced that a London court has ruled in its favor in a case brought by a subsidiary, Sphere Drake Insurance, against underwriting agents who, it alleged, fraudulently obtained...
Best Affirms Hannover Re’s U.K. Sub ‘A’ Rating
Jun 20 2003 // A.M. Best Co. announced that it has affirmed the financial strength rating of ‘A’ (Excellent) of International Insurance Company of Hannover Limited (Inter-Hannover), the London-based general insurer and...
W. R. Berkley, Kiln to Capitalize New U.K. Operation
Jun 19 2003 // W. R. Berkley Corporation announced that London-based insurer Kiln plc has agreed to invest in W. R. Berkley Insurance (Europe), Limited, a newly incorporated U.K. insurance company. Berkley will have an 80 percent stake...
ZFS Sells U.K. Fund Manager – Capital Goals Achieved
Jun 16 2003 // Zurich Financial Services took another step towards restoring its battered capital position to robust health with the announcement that it has agreed to sell Threadneedle, its U.K. find management subsidiary, to American...
Converium Receives O.K. for U.K. Insurer; DB and Putnam Up Stakes
Jun 4 2003 // Swiss-based Converium Holdings announced that the U.K.’s Financial Services Authority (FSA) has granted the company’s request to conduct a general liability insurance business. It also announced, in accordance...
S&P Lowers AMP Ratings, Assigns “Negative Outlook”
May 14 2003 // Standard & Poor’s Ratings Services announced that it has lowered the insurer financial strength and counterparty credit ratings on AMP Life Ltd. to ‘A+’ from ‘AA-‘, and has also lowered...
S&P Places AMP Ratings on CreditWatch Negative
May 1 2003 // Standard & Poor’s Ratings Services announced that it has placed the ‘AA-‘ insurer financial strength and counterparty credit ratings on AMP Life Ltd., the Australian operating subsidiary of AMP Ltd....
W.R. Berkley Corp. Notes Plans to Form U.K. Operation
Mar 5 2003 // W. R. Berkley Corporation announced that it intends to form a United Kingdom authorized insurance company. It is expected that the enterprise will be London-based and will specialize principally in writing domestic U.K....
S&P Removes AMP from CreditWatch; Lowers Ratings of U.K. Units
Feb 12 2003 // Standard & Poor’s Ratings Services announced that Australia’s AMP Life Ltd. has been removed from CreditWatch and that its ‘AA-‘ ratings have been affirmed with a negative outlook. S&P...
Cybersettle Receives U.K. Patent for Insurance Dispute Settlement Method
Feb 11 2003 // New York-based Cybersettle, Inc., a leading online claims mediation company, announced that it has received a patent in the U.K. on its method for settling disputes, the first time such a patent has been granted in the...
U.K. Regulators May Ease Solvency Rules to Help Embattled Life Sector
Feb 3 2003 // The U.K.’s Financial Services Authority, the body that regulates the country’s financial and insurance industries, has indicated that it will consider requests from the U.K.’s troubled life insurers for...
RMS Reconstructs Losses from U.K.’s 1953 Floods
Jan 31 2003 // California-based Risk Management Solutions, Inc., one of the world’s leading providers of products and services for catastrophe risk management, announced that it has released an in-depth study, “revealing the...
A.M. Best Raises Rating of Brit Insurance to ‘A’ (Excellent)
Jan 27 2003 // A.M. Best Co. announced that it has raised the financial strength rating to A (Excellent) from A- (Excellent) of U.K.-based Brit Insurance Limited (BIL), and has removed the ratings from under review status with a stable...
EC to Decide Whether to Charge U.K. on Lloyd’s Regulation
Jan 20 2003 // The European Commission, the top regulatory body of the European Union, is reportedly set to decide on Tuesday whether to file formal charges against the U.K. for failing to apply EU regulatory standards to the...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
AMP to Cut 1900 Jobs at Pearl, Reduce U.K. Operations
Dec 4 2002 // The long anticipated job cuts at Peal Insurance, the loss making U.K. subsidiary of Australia’s AMP, have finally been announced. CEO Andrew Mohl said yesterday that the company plans on reducing its workforce by...
AMP to Writedown up to $675 Million from U.K. Operations
Nov 18 2002 // Australia’s beleaguered AMP Ltd. announced that it could writedown as much as A$1.2 billion (U.S.$675 million) in the value of its U.K. operations, chiefly Pearl and NPI, by the end of the year. The news comes on top...
R&SA Reports Improved 9 Month Earnings; A.M. Best Affirms ‘A-‘ (Excellent) Rating
Nov 7 2002 // The U.K.’s Royal & Sun Alliance Insurance Group plc reported that the Group’s combined operating result was $739 million for the first nine months of 2002, compared to $482 million for the same period in...
New AMP CEO Makes Changes, May Reduce U.K. Operations
Oct 16 2002 // Andrew Mohl, who took over as CEO of Australia’s AMP in September, has announced a number of changes, aimed at restoring the company’s image and profitability, following a steep fall in its share price, due...
