Coface, the Paris-based business specialist, has issued a bulletin, which notes that the “credit crisis is spreading throughout Europe amid a deepening financial crisis, leading to a sudden squeeze in banking credit, plunging confidence levels, and a slowdown in activity.” …
A bulletin from Marsh’s London office warns that “mounting fears of a UK recession among businesses have led to a sharp increase in the sale of trade credit insurance policies.” Marsh added, however, “the protection available from insurers is becoming …
The London-based electronic trading service RI3K announced the launch of its RI3K Data Exchange service (RDX). “This is an entry-level solution for passing ACORD xml data and documents from RI3K directly to users’ own management information or processing systems,” the …
Marsh announced the creation of a dedicated binding authority and consumer placement service in London to meet the needs of clients globally. “This team will be the access point to the London and European insurance markets for Marsh’s small and …
Les Rock, president and chief underwriting officer of Ironshore Insurance Ltd., has resigned effective Oct. 31, 2008 for personal reasons. Howard Barnes, Peter Coleman and Rod Todd will continue to underwrite property insurance through Ironshore’s Bermuda office. Russ John has …
London-based Steamship Mutual, a leading P&I Club providing marine liability insurance worldwide, announced that it is launching a new Yacht Liability insurance product for luxury super and mega yacht owners, operators, charterers and fleet managers. Steamship is already a major …
Lockton has celebrated the granting of its Wholly Owned Foreign Enterprise (WOFE) insurance brokerage license to operate in China with a Grand Opening of its new Shanghai office. The license was granted earlier this year (See IJ web site – …
Montpelier Re Holdings Ltd. announced that it has received approval from the UK’s Financial Services Authority (FSA) and Lloyd’s to establish a wholly owned Lloyd’s Managing Agent subsidiary. The new unit – Montpelier Underwriting Agencies Limited (MUA) – will assume …
The Bermuda-based Argo Group International Holdings has announced the launch of Argo Financial Products Limited (Argo Financial). The unit will be based in London and will “specialize in a broad array of financial lines products including directors’ and officers’ liability, …
Large property insurer Travelers Cos. Inc. said some potential business opportunities have arisen from the troubles at its rival American International Group Inc., and that the rates it can charge for insurance may also harden partly as a result. Chief …
