The U.K.’s Financial Services Authority announced fines levied against Regency Mortgage Corporation Limited of £56,000 ($106,000) “for failures relating to its sale of mortgage related Payment Protection Insurance (PPI) in the sub prime market.” The bulletin notes that this is …
The U.K.’s Hiscox plc announced that its Board of Directors, is “in discussions which could lead to the creation of a new reinsurer, which will only reinsure Hiscox Syndicate 33,” which it manages, and in which it has a 72.5 …
Dublin-based consultants Research and Markets has produced a report, “Five Factors That Will Shape the Future of UK General Insurance,” which “provides five key predictions for the state of the UK general insurance market in 2007 and beyond, and explains …
Allianz Capital Partners GmbH (ACP), an investment unit of German insurer Allianz AG, has agreed to sell Four Seasons Healthcare, a leading U.K. provider of services for older people and specialized care services for adolescents and younger adults, to Delta …
The U.K.-based Beazley Group plc posted slightly lower pre-tax profits for the six months ended 30 June 2006 of £28.3 million ($54 million), compared to £35.2 million ($67 million) for the same period of 2005. However, Beazley’s profits, before tax …
A.M. Best Co. has affirmed the financial strength rating of “A-” (Excellent) of International Insurance Company of Hannover Limited (Inter Hannover), the U.K.-based subsidiary of Germany’s Hannover Re. Best also assigned Inter Hannover an issuer credit rating of “a-” and …
A.M. Best Co. has affirmed the financial strength rating (FSR) of “A” (Excellent) and the issuer credit rating (ICR) of “a” of Germany’s Hannover Rueckversicherung AG (Hannover Re) and its rated subsidiaries [See also related articles]. Best also affirmed the …
Wellington Underwriting Inc. (WU Inc.), the wholly owned US underwriting agency of U.K.-based Lloyd’s and general insurer Wellington Underwriting plc (Wellington), has launched a new marine reinsurance business for the U.S. market. The announcement noted that WU Inc., which is …
The U.K.’s Hiscox Insurance Co. has launched of a new management liability policy developed to cover the liabilities of U.K. companies, their directors and employees. Hiscox said it had revamped the coverage “to address the significant rise in current and …
Dublin-based Research and Markets has added a U.K. “General Insurance Market Assessment 2006” to their offering. The report examines the state of general insurance in the retail market in the UK in 2006. It focuses on “the major components of …
