Articles by Chris Wheal
Japan earthquake risks rise to 93%
Catastrophe modelling firm Air Worldwide has said the Tohoku-Oki earthquake changed the landscape for quake risks in Japan, increasing the risk of severe quakes from 72% to as high as 93%.
Miller names two in political risk push
Miller has bolstered its political risk, trade credit and political violence capabilities by recruiting James Cunningham, pictured right, from Marsh, and Ewan Wauchope, left, from AJ Gallagher.
Axa’s Evans says David Cameron meeting ‘a great day for motorists’
Axa UK boss Paul Evan has described the insurers’ meeting with Prime Minister David Cameron as “a great day for motorists”.
Marsh reports bumper profit growth
Broker Marsh's parent MMC has reported revenue up 9% to $11.5bn in 2011 with pre-tax profit up 82% to $1.4bn ($769m). Operating income was up 49% to $1.6bn ($939m).
Seán Quinn accused of contempt of court
The Irish Bank Resolution Corporation, formerly Anglo Irish Bank, has filed contempt of court proceedings against former Quinn Insurance boss Seán Quinn, his son Seán Quinn jnr, and his nephew Peter Darragh Quinn.
RBSI confirms rebranding as Direct Line
RBS has confirmed it is rebranding its insurance division as Direct Line Group to make it more attractive for the forced sale required when it accepted a government bailout.
Lloyd's puts Thai flood losses at £1.4bn
Lloyd's has estimated its net claims from the flooding in Thailand last year to be $2.2bn (£1.4bn).
PM to promise action on insurance prices
The Prime Minister will meet with the insurance industry, consumer and business groups today to discuss rising premiums.
Hamilton Fraser takes over Ceart policies
Medical liability insurer Hamilton Fraser Cosmetic has stepped in to take over the policies of Ceart Risk Service after it went into administration on 19 January.
Law firms' ABS will lead to M&A activity
Alternative business structures that allow non-lawyers to control and own law firms will result in a frenzy of mergers and takeovers, according to the latest Insurance Market Update from Deloitte.
Arista boosts Manchester with new boss
Commercial lines underwriter Arista Insurance has appointed Jim Morrison, pictured, as regional manager for the north, and Steve Davidson as senior underwriter.
Axa: fraud adds £607 to a home claim
Axa Personal Lines says it has seen an ongoing rise in the number of people exaggerating their home insurance claims.
Markerstudy gets training go-ahead
Markerstudy has been granted 'Centre status' by the Institute of Leadership and Management, enabling it to tailor ILM programmes to suit staff needs.
Esure's Wood makes way for Vann promotion
Esure has officially promoted chief operating officer Stuart Vann to chief executive after he took over increasing areas of responsibility within the firm over the past year. He will not be replaced as COO.
Legal expenses insurer DAS returns to profit and applies to SRA to buy a law firm
DAS has reported that it increased gross written premiums by 16% in 2011, returning a pre-tax profit of £9.7m compared with losses the previous year.
Willis broker in viral email scandal
A Willis terrorism and political violence broker, James Hill, is reported to be at the centre of an embarrassing viral email that has been read around the world.
Scor takes bigger slice at 1 Jan renewals
SCOR Global P&C said 2011 gross written premiums were up by 8.8% to €3.982bn (up 11.6% at constant exchange rates) and 1 January saw average 2.2% price rises but saw it take a 13.9% growth in business.
Catlin in profit despite £1bn cat claims
Catlin's pre-tax profit was cut by more than 80% to $71m (2010:$406m) on the back of nearly £1bn of natural catastrophe losses last year.
Marsh warns oil firms of risk changes
Broker Marsh has warned that the rapid evolution of the global hydrocarbon industry is creating a “seismic change” in the risk landscape for energy businesses.
Acquisition-hungry Beazley still in profit
Lloyd’s insurer Beazley reported a profit of $62.7m, down 75%, despite catastrophe losses and said it had a war chest of more than $400m to buy Hardy, other Lloyd’s businesses or European insurers struggling with solvency II.
Liberty Mutual names three for claims
Liberty Mutual Insurance Europe has boosted its claims operations with three senior appointments in London, The Hague and Madrid.
Insurers pose no systemic risk, says report
International insurance think tank, The Geneva Association, has said insurer wind-downs are always controlled and orderly and insurance does not pose a systemic risk.
UK insurers dominated by foreign firms
Foreign-owned firms make up more than half (55%) of the UK’s large general insurance companies, according to a report from The City UK, UK Trade & Investment and IMAS Corporate Finance.
RBSI launches Sainsbury's home cover
RBS Insurance has added to its Sainsbury’s car insurance deal with a five-year contract to provide the underwriting, sales, service and claims management support for home insurance.