Broker
Latest AIG share sale to net US Treasury $750m
The US government expects to receive $750m (£481m) from the latest sale of stock held in American International Group.
CILA adds voice to calls for Riot Act reform
The Chartered Institute of Loss Adjusters has thrown its support behind calls by the government and the Association of British Insurers to reform the 1886 Riot Damages Act by pledging on-going technical assistance to its members.
Temp Cover eyes £24m turnover target
Short-term insurance broker Temp Cover has hired three associate directors who will play a key role in helping the business double its £12m income in the next three years.
Groupama UK chief exec full of praise for Lark's new owners
Groupama UK chief executive François-Xavier Boisseau has praised the Lark management team behind the acquisition of his firm's majority shareholding, describing the now-independent broker as a "very consistent performer".
Lark completes MBO from Groupama
Lark is once again an independent broker after its management successfully completed the acquisition of Groupama's majority shareholding in the business for an undisclosed sum today.
Industry veteran Driver handed Congregational chairmanship
Congregational and General Insurance has appointed Harry Driver as chairman following David Collett's retirement.
Ace hopes to bolster EMEA travel team with triple appointment
Ace has made a trio of international appointments in its Europe, Middle East and Africa travel team in a bid to strengthen its travel business across the region.
EA reduces flood alerts despite weekend of heavy rain
The Environment Agency has halved the number of UK flood alerts this morning after a weekend of heavy rain led to flooding and disruption in parts of south-west England and the Scottish borders.
Paul Summers appointed global CEO of Aon Benfield Fac
Paul Summers is to become global chief executive of Aon Benfield Fac with immediate effect.
Catlin registers H1 boom in net underwriting contribution
The Catlin Group has chalked up a record $443m (£284m) in net underwriting contribution for the first half of the year, with results also showing the Bermuda-based firm maintaining a combined ratio of 86%.
D&O may fall short of covering directors for cyber risks
The expanding online universe has introduced new financial risks that may not be covered under general and professional liability insurance, including standard directors' and officers' policies, Willis Group Holdings has warned.
Cyber crime risks on the rise
Willis has warned that "ignorance is no defence" when it comes to ensuring that companies are protected against data breaches as the risk of cyber incidents increases.
JLT sells 20% stake in South African unit to investment management company
JLT has sold a 20% stake in its JLT South Africa subsidiary to Thebe Investment Corporation for £164 842 as part of a strategic long-term agreement between the businesses.
LV Broker revamps motor fleet policy with extended offering
LV Broker has launched an enhanced motor fleet policy which includes full European cover and uninsured loss recovery as standard, plus cover for attached or detached trailers.
Geddes unmoved by PE takeover talk as DLG divestment date looms
Direct Line Group chief executive Paul Geddes has distanced himself from speculation linking the business with a private equity-backed divestment, insisting that his focus remains on securing a second-half public flotation.
Allianz UK continues upwards trend, despite fractional COR rise
Allianz UK has chalked up an operating profit of €92m (£72.4m) for the first half of 2012, alongside a marginal combined ratio rise to 96.8%.
Aviva COR to surpass 99% following floods, claims analyst
Aviva's general insurance result is predicted to fall 5% year on year as a result of recent unseasonable UK weather.
DLG's £40m summer flood loss offset by reserve releases
Direct Line Group has reported home weather claims costs of £40m, conceding that losses were worse than expected but offset by "signficant" releases from reserves held against prior year claims across the portfolio.
Axa UK & Ireland COR rises above 100% in H1 after £36m flood hit
Axa UK & Ireland has reported that underlying earnings for the first six months of 2012 improved by 27% to £66m (H1 2011: £52m).
JLT and Aviva team up on professional indemnity service
JLT Specialty has launched a two to three partner professional indemnity insurance service through an exclusive new arrangement with Aviva.
Kwik-Fit finds Midas touch with panel appointment
Kwik-Fit Insurance has appointed Midas Underwriting to its home insurance panel.
Junction to use brand loyalty to improve quote accuracy
Affinity provider Junction is rolling out a new project that will use customer data held by its partner brands to provide more accurate insurance quotes.
Biba signs Gleaming Wholesale for contractors scheme
The British Insurance Brokers' Association has appointed Gleaming Wholesale as the exclusive provider for its new cleaning contactors scheme, which offers enhanced cover and commission for Biba members and interest free instalments.
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).