Latest Uk Headlines
All the headlines from our Uk Topic Page, ordered by recency.
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Report R&SA Poised to Sell U.K. Life Business
Dec 15 2003 // Royal & Sun Alliance is reportedly very near to making a deal to sell its U.K. life insurance business, which is valued at around £600 million ($1.03 billion). According to an article in the Sunday Times, as...
Top 10 2003 Newsmakers
Dec 15 2003 // While less turbulent than 2001-2002, this year hasn’t exactly been a walk in the park. The industry continues to face intractable problems—a lack of capital strength, accompanied by accusations that it’s...
Lloyd’s Adopts U.K. GAAP in Move to Annual Accounting
Nov 20 2003 // In a further move to bring its accounting procedures up to date, Lloyd’s announced it would adopt UK Generally Accepted Accounting Principles (GAAP) beginning January 1, 2005. It also plans to eventually adopt...
Chubb Exec Asserts Wealthy U.K. Clients Suffer from ‘Insurance Apathy Disease’
Nov 20 2003 // According to John Sims, who heads Chubb’s European Personal Lines unit, large swathes of the British public are falling victim to what he calls “insurance apathy disease.” Speaking at the Private Wealth...
HCC to Invest in London-Based Illium
Nov 6 2003 // Houston’s HCC Insurance Holdings Inc. announced it has agreed to invest in U.K.-based holding company Illium Insurance Group Ltd., owner of a new Lloyd’s managing agency and syndicate specializing in U.K. third...
U.K. Gov’t. Launches Review of FSA Law, ABI Approves
Nov 5 2003 // The U.K.’s Treasury Department will begin an investigation of the Financial Services and Markets Act, which created the Financial Services Authority as the sole regulatory and enforcement agency for financial...
Apprehensions over Regulation, Capital, Industry Image, Dominate CII Conference
Oct 6 2003 // The industry “needs leaders that will actually lead,” said outgoing president Andy Homer as he closed the 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute...
Regulation, Capital, Industry Image Dominate CII Conference
Oct 6 2003 // The industry “needs leaders that will actually lead,” said outgoing president Andy Homer as he closed the 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute...
U.S. Risk Purchases Stake in London Broker
Sep 30 2003 // Dallas-based U.S. Risk Insurance Group Inc. (U.S. Risk) announced it has entered into a financial transaction with London-based Insurance Broker, NCG Professional Risks Ltd. (NCG). The transaction involves U.S. Risk...
Apprehensions over Regulation, Capital, Industry Image, Dominate CII Conference
Sep 22 2003 // The 102nd Insurance and Financial Services Conference of the U.K.’s Chartered Insurance Institute wound up proceedings in London last Friday on an upbeat note. President Andy Homer told delegates that the industry...
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...
