Broker
US Risk targeting Lloyd’s brokers for marine, energy growth
US Risk chief executive Randall Goss has told Post he currently in talks to buy three Lloyd’s brokers.
Towergate sells Power Place to Open GI
Open GI has acquired Power Place from Towergate for an undisclosed sum, in a deal which will see 48 staff – including chief executive Nick Giddings – move across to the software provider.
Bluefin committed to motor after 2012 travails
Axa-owned broker Bluefin has said it remains dedicated to its motor business, despite noting that repricing its motor book had contributed to dipping revenue for 2012.
Lockton recommends reservation of rights clause
Broker Lockton has told its clients to add a clause to their insurance contracts to help counteract negative effects of the reservation of rights by insurers.
Markel and Alterra shareholders give green light to acquisition
The Markel acquisition of Alterra Capital Holdings has been given the go-ahead by shareholders at both firms following a vote.
Independent midwives seek cover ahead of legislation
An organisation representing independent midwives is in discussions with a broker over plans to secure affordable professional indemnity insurance, ahead of the launch of new legislation.
Bluefin Ebitda increases 27.5%
Bluefin Insurance has reported a 27.5% rise in Ebitda to £22.7m (2011: £17.8m) and a 54.3% pre-tax profit of £17.9m (2011: £11.6m).
Esure confirms IPO intention as improved COR of 92.8% is chalked up
Esure chairman Peter Wood has this morning confirmed the intention of his firm to proceed with an initial public offering.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
LV boss O'Roarke calls for "sanity" in 2013 motor market
LV general insurance managing director John O’Roarke is hopeful that "sanity" will be restored in the personal lines motor market in the year ahead and is predicting falling rates to pick up.
Guy Carpenter appointment signals focus on European casualty market
Guy Carpenter & Company has appointed Georg Fuelles as head of European casualty strategy.
LV investment return soars as 2012 floods take toll on COR
LV underwriting profit suffered a £25m hit last year, as the firm’s combined operating ratio increased to 99.7% (FY 2011: 97.7%) as a result of adverse weather conditions during large parts of 2012.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.
Pound weakness presents HNW opportunity
The pound’s weakness is an opportunity for international high-net-worth providers, wholesale broker Markham Private Client has said.
Go Skippy signs up two new partners
General Legal Protection has won a contract to provide breakdown cover to customers of online car insurance broker Go Skippy in a deal it claims is worth in excess of £600 000 over the next 12 months.
Allianz UK profit slides 4.3% to £161.5m
Allianz reported a 4.3% fall in operating profit to £161.5m in 2012 (2011: £168.7m). The insurer's combined ratio also deteriorated to 96.3% from 95.7% in 2011.
Fonseca reveals three-step plan to becoming a broking powerhouse
Treating clients as partners, investing in the future and joining forces with peers from around the world are key to independent brokers becoming powerhouses of the global insurance industry.
Bluefin hires ex-Jelf pair for regional roles
Bluefin Insurance has announced a pair of regional appointments, Jim Pitchforth has been named development director in Birmingham, while Wendy Bushby has been hired as a commercial broker in Ludlow.
Liberty Mutual subsidiaries to join RSA at the Walkie-Talkie
Liberty Syndicates and Liberty Mutual Insurance Europe have become the latest insurance operations to agree to let office space inside a soon-to-be completed London landmark known as the ‘Walkie-Talkie’.
One Answer Network snaps up Broker Drive
One Answer Network has acquired Broker Drive, in a deal which will see the network increase its membership base to well over 200.
Late notice means Marsh may miss Efra committee flood meeting
Marsh has confirmed it may have to pull out of a government select committee meeting on flood defence funding, leaving the Association of British Insurers and Aon Benfield as the insurance industry’s only representatives.
Axa picks up Ecclesiastical’s mobile catering scheme
Slade Edwards Insurance Brokers has transferred its mobile catering insurance scheme to Axa commercial lines and personal intermediary.
Social media cover launched by Arc Legal amid growing online defamation concerns
Arc Legal has become the latest firm to respond to the challenges posed by online defamation via social networking sites such as Twitter, by launching a social media defamation cover.
Online exclusive: The development predicament
What impact will proposed legal changes to property development have on the insurance industry? Mark Heighton explains.