Articles by Chris Wheal
Mapfre continues to grow outside Spain
Spanish insurer Mapfre has reported Q1 revenues of €6,835m, up 11.5%, thanks to sustained growth of its international business.
Ace Scotland boss Macfarlane looks at new staff and broker business
Ace's new Scotland boss, Andy Macfarlane, pictured, could add to the firm's 200-strong Glasgow office with Aberdeen being a possible location owing to the insurer's contacts in the oil and gas sector.
Weightmans grows by a third on mergers
National law firm Weightmans has reported turnover up by a third (£19.1m) to £77.1m for the 2011/2012 financial year (2010/11: £58m).
XN Financial gets FSA green light for UK
Florida firm XN Holdings has secured Financial Services Authority approval for its UK subsidiary XN Financial Services to write insurance in the UK.
CII membership up 6%, surplus up 142%
The Chartered Insurance Institute has published its Annual Review for 2011, showing a 6% rise in membership and an operating surplus of £1.85m, more than double last year's £0.764m
Mobile operator Three hit by claims fraud
Rising fraudulent claims has forced UK mobile phone network Three to stop selling phone insurance, the FT reports.
Quindell signs £120m deal with UK broker
Acquisitive outsourcer Quindell Portfolio claims to have landed a £120m three-year motor claims and supply chain outsourcing deal with a large un-named UK intermediary.
HSBC admits a further £290m in PPI costs
Bank HSBC has revealed it has set aside a further $468m (£290m) for payment protection insurance misselling claims in its Q1 accounts (Q1 2011: $440m).
Tysers and Aquila group sees profits soar
The parent company of Lloyd's broker Tysers and underwriting agency Aquila - Hawkes Bay Holdings - has announced revenues up 6% to £37.6m (2010: £35.5m) and a pre-tax profit that almost doubled to £5.18m (2010: £2.67m).
Insurers expect further Solvency II delays
More than three quarters of insurance companies believe that the Solvency II implementation date will be delayed beyond 1 January 2014, according to research conducted by actuary Barnett Waddingham.
Jelf reports growth in insurance business
Broker Jelf has reported almost static half year revenues of £35.2m (2011: £35.0m) but said revenues in the insurance business were up 4% to £23.3m (2011: £22.3m) and new business insurance sales were up by 14%.
Swiss Re issues $400m flexible cat bonds
Swiss Re has established a $400m cat bond vehicle that will enable it to issue multiple bonds over an extended period to cover European and US wind storms.
EIOPA says regulators must overrule Solvency II confidentiality agreements
The European Insurance and Occupational Pensions Authority has ripped up confidentiality agreements between insurers and third-party Solvency II consultants selling validation models.
Hiscox April renewals beat expectations
Hiscox has said it withheld reinsurance capacity on the first quarter in anticipation of higher rates, adding that April renewals had beaten expectations. But it warned that the UK market is still "under pressure".
MMA profits from motor turnaround
MMA Insurance has issued its 2011 annual results, the final numbers that will be issued before the business is merged with Provident Insurance to form Covéa Insurance in the final quarter of 2012.
Yutree boss Leigh Smart warns broker commission is the 'next misselling scandal'
Leigh Smart, the former Davis Group boss who sold his business to Bluefin in 2007, has warned that brokers' undisclosed commission and fee income could be the next big misselling scandal.
Election grips Lloyd's Market Association
The Lloyd's Market Association is facing the most competitive election in its 11-year history for four new members of the governing body.
PPI problems continue to dog RBS
Bailed out bank RBS has confirmed that it was forced to set aside £125m in its Q1 accounts for additional payment protection insurance misselling payments.
Swiss Re nearly halves Q1 COR to 85%
Swiss Re has reported "strong underwriting, good investment performance and lower than-expected major natural catastrophe claims" for a "very strong first-quarter" net income of $1.1bn compared to a loss of $665m for Q1 2011.
Lancashire profits soar despite $34m Costa Concordia claims costs
Lancashire Holdings has reported Q1 gross written premiums up 36% to $234m (2011: $172m), and said that pre-tax profit was up more than fivefold to $46.5m (2011: $8.4m), despite Costa Concordia claims totalling $34.1m.
Quidco Compare adds home and travel
Cashback and voucher comparison site Quidco Compare is expanding into home and travel insurance.
Autonet signs up Auto Windscreens
Auto Windscreens has been named as the preferred glass supplier to van insurance broker Autonet Insurance.
First quarter of 2012 sees record for cat bonds
There was a record issuance in the catastrophe bond market in the first quarter of 2012, with eight new non-life issues providing more than $1.3bn of risk capital, according to the latest Insurance-Linked Securities Market Update from Willis Capital…
DWF confirms Buller Jeffries merger
National business law firm DWF has completed its takeover of Buller Jeffries.