Articles by Chris Wheal
Brit expands hull team at Lloyd’s
Brit Insurance’s Lloyd’s syndicate has boosted its marine hull team with the appointment of Bob Clarkson as senior marine hull underwriter.
Markel to use investment success to target further Europe expansion
Markel finance director Andy Davies has confirmed the company will seek further European acquisitions this year on top of the German buy of Anglo Underwriting already announced.
City wants regulation simplified
Law firm Evershed’s survey of the City has found that a narrow majority (51%) of City businesses think that Solvency II should be simplified compared to a quarter (27%) who believe that it does not require any changes.
FSA demands 15.6% rise in its final budget
The Financial Services Authority has said it needs a 15.6% increase in funding to £578.4m, up from £500.5m in 2011/12 for its final year as a regulator.
Zurich backs Airmic’s compliance database
Zurich has applauded Airmic's and FERMA's plans to develop a database of international insurance requirements
Jackson delay must not allow dilution
Law firm Kennedys has urged the government not to let the delayed timetable for implementation of Lord Justice Jackson’s proposals on reform of civil litigation allow the proposals to be watered down.
Ex-Aon boss joins Ironshore
Former Aon boss Dennis Mahoney has joined the board of insurer Ironshore.
Cunningham Lindsey’s Roberts steps down
Cunningham Lindsey risk and compliance director Harry Roberts is standing down from the board to handle business interruption claims and reduce his working hours.
RTA injuries dive as traffic volumes fall
Motor vehicle traffic levels fell by 0.7% compared to the 12-month period ending September 2010, leading to a 5% fall in the number of injury road accidents reported to the police.
Zurich targets food and sports sectors
Zurich has launched mid-corporate sector-specific broker-sold products for the food & beverage sector and for sports, leisure & entertainment adding to its year-old Corporate Focus proposition.
Markel reports investment and GWP growth counters catastrophe claims
Markel International saw gross written premiums rise 16% to $825m for 2011 ($709m) but a combined ratio of 116% (95%) included $123m, or 18 points, from natural catastrophes compared with $17m, or 3 points, in 2010.
Munich Re profits down 70%, GWP up 9%
Exceptional major losses and “burdens from the financial crisis” slashed Munich Re’s profit last year by more than 70% to €0.71bn from €2.43bn in 2010. This was despite gross written premiums being up by almost 9% to €49.6bn (€45.5bn).
London market technology provider launches cloud offering
London Market technology firm TriSystems has launched an electronic underwriting service called Lime-St.com For underwriters to complement its broking platform.
Brit hires investment chief from IAG
Brit has recruited John Stratton from Insurance Australia Group to fill the newly created role of chief investment officer.
Boston and Skegness top flood risk table
The Association of British Insurers has revealed that Boston and Skegness in Lincolnshire is the constituency with the most homes at significant risk of flooding in England and Wales.
Homeserve appoints group COO
Homeserve has promoted its group chief financial officer, Martin Bennett, to the new position of group chief operating officer.
Moody’s ups outlook for French insurers
Moody's has changed the outlook for the French property and casualty sector to stable from negative, but left the French life insurance sector on negative.
Survey shows half of all blocks of flats are underinsured
Block of flats broker Deacon has called for frequent revaluations of flats by residential management companies after a survey found half were underinsured.
Lancashire "best placed" for price rises
Lancashire Holding’s decision to increase its reserves for the Japan earthquake and Thai floods removes uncertainty that exists with other firms and makes it a good buy, according to analysts at Jeffries.
Insurers call for government to tackle flood risks
Insurers have demanded the government “grasp the nettle” and tackle flooding risks after the Public Accounts Committee demanded a renewal of the voluntary flood insurance agreement.
Hurst-Bannister joins Xchanging board
London Market stalwart Barnabas Hurst-Bannister is to join the Xchanging Ins-Sure Services board as a non-executive director from March.
Ace boosts claims with Sharp recruit
Ace has appointed Christina Sharp from Van Ameyde Group as claims client relationship manager.
Brightside signs up Britannia Rescue
Brightside Group has signed up LV’s recovery arm Britannia Rescue to provide breakdown cover to the 90 000 road rescue customers within its broker division.
Lancashire increases Japan quake loss estimate by 56%
Lancashire Holdings has increased its estimated exposure to the Tohoku earthquake by $42.2m, or 56%, to a net loss estimate of $117.3m (£74.8m).