Articles by Chris Wheal
Munich Re's losses slow in second quarter
Munich Re posted a consolidated loss of €210m for the first half of 2011, compared with a profit of €1194m in the same period last year.
Munich Re's losses slow in second quarter
Munich Re posted a consolidated loss of €210m for the first half of 2011, compared with a profit of €1194m in the same period last year.
Novae hurt by catastrophe losses
Novae said half-year catastrophe losses added 20% to its combined ratio, taking it to 111% and causing a pre-tax loss of £30.1m (H1 2010: profit £13.8m).
Axa 100% COR prompts attack on legal fees
Axa UK has claimed its direct personal lines business revenues rose 22% in the first half of 2011, taking total UK & Ireland property & casualty revenues to £2bn, up 4%.
Catlin warns of catastrophe losses
Catlin has said $534m in losses from catastrophes added 32% to its combined operating ratio, taking it to 117% for the first half of 2011.
Willis blames restructuring for profits fall
Willis has reported its net income for the six months to June 30, 2011 was $119m down from $293m in the same period a year ago, which the broker is mainly attributing to restructuring costs of $115m.
Ecclesiastical manager stands in for charity
Managing director of Ecclesiastical’s subsidiary Ansvar Insurance, Cathy Taylor, has become interim chief executive of Gloucestershire charity Cotswold Care Hospice.
AIG and Gen Re convictions overturned
A US appeals court has overturned the fraud convictions of four former General Re executives and a former AIG official and has ordered a retrial.
Event Insurance urges brokers to cash in on Jubilee and Olympics
Event Insurance Services is attempting to cash in on the Queen’s Diamond Jubilee and the London Olympic and Paralympic Games by launching policies covering events celebrating these landmark events.
Crawford launches accredited management scheme for staff
Loss adjuster Crawford & Company has teamed up with the Chartered Management Institute to launch what it claims is the first accredited management programme in the sector.
Foil calls for health & safety change
The Forum of Insurance Lawyers has demanded the government relax health and safety regulation and simplify the current complex regime.
Ecclesiastical adds Quadra to increase property adjuster panel
Ecclesiastical has appointed Quadra Claims Services to its property loss adjuster panel to focus on commercial and personal lines property claims.
Hiscox reports H1 losses of £85.6m in 'worst year ever'
Hiscox has announced a half year pre-tax loss of £85.6m, leading the insurer to claim the year so far has been the costliest year ever for the insurance industry.
Keoghs reports 47% rise in fraud
Law firm Keoghs claims its counter-fraud team helped insurers in the UK avoid paying £100m to fraudulent claimants in its last financial year – a 47% increase on the previous year.
Arag launches divorce insurance
Legal expenses insurer Arag has teamed up with London law firm Prolegal to offer divorce insurance.
Fitch affirms Lloyd's of London IFS rating at A+
Fitch Ratings has affirmed Lloyd's of London's insurer financial strength rating at 'A+'.
Fitch affirms Lloyd's IFS rating at A+
Fitch Ratings has affirmed Lloyd's insurer financial strength rating at 'A+'.
London Mayor must tackle flood risks
The London Assembly’s environment committee has demanded Mayor Boris Johnson take action to reduce the serious risk of flood damage and potential loss of life London faces from severe rainfall.
BMS to become employee owned
Specialist insurance broker BMS Group is buy out its only external shareholder, AHJ Holdings, after reporting annual revenues up 7% to £50m.
Beazley reveals $24m half year loss
Beazley has announced a $24m half-yearly loss due to its $154m catastrophe losses earlier this year taking its combined ratio to 108%. It has hired Axa’s Dennis Holt to replace Jonathan Agnew as chairman.
Excess policy launched for brokers
Adding1 has launched a policy that allows insureds to reclaim their policy excess charges on the Acturis broker platform.
JLT warns pharma firms of non-damage risks
Broker JLT claims regulatory fears, intellectual property risks and counterfeiting are driving demand for its EPIC non-damage business interruption product developed for the life science and pharmaceuticals market
First Assist keeps Halifax travel business
White label insurance provider First Assist has retained the travel insurance business tendered by Halifax.
Euler Hermes links with Mapfre
Spanish insurance giant Mapfre and Allianz-owned Euler Hermes have signed a memorandum of understanding to build a strategic alliance aimed at jointly developing their credit and bond insurance business in Spain, Portugal and Latin America.