US commercial property and casualty insurance provider CNA Financial has acquired Hardy Underwriting Bermuda for approximately $230m. After the integration, Hardy will continue to trade under its own brand and its existing leadership team ...
Tags: CNA Financial, Hardy Underwriting Bermuda, acquisition, insurance
UK Financial Services Authority (FSA) has penalized Sun Life Assurance Company of Canada (UK) (SLOC UK) 600,000 pounds for poor management of its 1.2bn pounds with-profits business. The market watchdog claimed that the design and ...
Tags: FSA, Sun Life Assurance, life insurance, insurance product
UK-based Secure Legal Title has registered at Lloyd to offer legal indemnity and title insurance for commercial property in the UK and across Europe. Underwritten by Lloyd's, the Secure Legal Title Cover provides protection against losses ...
Tags: legal indemnity, title insurance, commercial property, insurance
Investors Trust Assurance SPC (ITA) has opened a new office at the Petronas KLCC Kuala Lumpur, Malaysia, as a part of its global expansion plans. ITA's Managing Director Bob Pain said, "We are committed to Malaysia and the Southeast Asian ...
Tags: ITA, Investors Trust Assurance SPC, new office, Southeast Asian market
The £1.4bn losses caused by a rogue trader at Swiss bank UBS could have been avoided had a computer used to detect unauthorised trading been more effective, according to the Financial Services Authority (FSA). The FSA has fined UBS ...
Tags: FSA, rogue trader, fined, unauthorised trading
The cloud played a pivotal role in separating insurance group Direct Line from parent company the Royal Bank of Scotland(RBS)to launch on the stock market. Direct Line had less than 6 months to re-engineer its HR process to prepare for an ...
Tags: Cloud HR, share offering, RBS, Peoplesoft system
Bank of Scotland, part of the Lloyds Banking Group, has been fined £4.2m by the Financial Services Authority (FSA) for failing to keep accurate records of the mortgage payments of 250,000 Halifax customers. The blunder, which ...
Tags: Bank of Scotland, Lloyds Banking, FSA, Tracey McDermott
Bank of Scotland,part of the Lloyds Banking Group,has been finedGBP4.2m by the Financial Services Authority(FSA)for failing to keep accurate records of the mortgage payments of 250,000 Halifax customers. The blunder,which persisted from ...
Tags: Bank of Scotland, Financial Services Authority, mortgage records system
When the Financial Services Authority(FSA)introduces new rules,companies under its jurisdiction often have to invest in IT to enable them to adhere to the new guidelines. Because data is so important in finance companies,regulations ...
Tags: cloud-based, software, IT, guideline
Equity Insurance Partnerships (EIP) has extended its affinity insurance partnership with First Direct, the banking brand which is a member of HSBC Group. As per the extended alliance, EIP will continue to provide motor insurance for the ...
Tags: EIP, HSBC, First Direct
UK insurer Prudential has finally selected and appointed Paul Manduca as its new chairman, which will be effective from 2 July 2012. Paul Manduca will replace Harvey McGrath, who decided to leave the firm after being criticized for ...
Tags: Prudential, Paul Manduca, new chairman