Broker
Aon reports 3% organic growth in American and international broking arms
Aon today announced its revenue increased 48% to $2.8bn for the second quarter of 2011 compared to the prior year quarter, due to a 42% increase in commissions and fees resulting from acquisitions, primarily that of Hewitt.
MCE Enterprise names MD
Nick Elliman has been appointed as managing director of personal lines network MCE Enterprise.
Lloyd's Names group sets up investigation taskforce for syndicate losses
A Names group has set up an “investigation” taskforce to uncover the reason behind the huge losses of Lloyd's Equity syndicate 218 and KGM 260 in the 2008 account.
European brokers set to benefit from IP growth
The value of intellectual property has come to the fore in recent months and according to Sam Bobo smart European brokers will be investing in developing insurance for this area in order to corner an expanding market.
MGAA to launch in September
The Managing General Agents’ Association has confirmed that it is to officially launch on 1 September.
Danish government asks TRIA broker to review local terrorism capacity
US RE, the international reinsurance broker, has been selected by Finanstilsynet, the Danish Insurance Supervisory Authority, to conduct a study of terrorism risk reinsurance capacity in the Danish market.
JLT transformation programme exceeds expectations as profits and revenues rise
JLT has recorded a 9% leap in total revenue for the first six months of 2011 to 411.3 (H1 2010: £377.8m) and 8% rise in underlying trading profit for the same period at £76.1m (H1 2010 £70.7m).
A-Plan founders reveal £4.2m THB stake
Former A Plan directors Tom Duggan and David Saville, alongside Ian Donald, have declared their 15.1% ownership in THB, according to a stock exchange announcement.
Gallaghers confident of exceeding $2bn in 2011 after Heath deal and strong H1
Arthur J Gallagher & Co today reported a 13% rise in brokerage revenues for the first six months of 2011 to $717.6m (£439m) (H1 2010 $635.2m).
AA premium index highlights rate increases are levelling off
According to the latest benchmark AA British Insurance Premium Index, the cost of both car and home insurance appears to be levelling off, with small falls in the cost of cover for young drivers and for home insurance.
People moves - 28 July 2011
A round-up of people moves and new appointments in the industry, as featured in the 28 July 2011 edition of Post.
View from the top: The start of the journey
Four weeks into my new role and, after working in RSA's UK commercial business for 11 years, I have returned to my roots in the UK market. In many ways, it feels like I have never been away and yet, in others, it does.
Fraud - Household: Opportunity knocks
Household fraud is on the rise according to insurers. Callum Brodie attempts to find out why and what the industry can do to prevent it.
Comment - Referral fees: Make your mind up time
As the debate over the future of referral fees rumbles on, it is time for the government to make its decision or risk creating confusion over its civil justice reform programme, writes Kate Lotts.
Interview - Charles Earle: Aiming high with Arista-cratic Earle
Despite falling short of his initial five-year plan, Charles Earle has still seen Arista make considerable achievements. He talks to Lynn Rouse about his philosophy surrounding underwriting control, system transparency and acquisition plans.
Jersey firm has Giles in its sights after takeover
Bosses from Jersey-based Islands Insurance have heralded the acquisition of Reed Insurance Associates as "a big leap forward", after finalising a deal that sees the firm become the self-proclaimed second largest operator on the Channel Islands.
BMS: US reinsurance focus after buy out
BMS bosses have vowed to switch the company focus towards the US reinsurance market following the news that the broker has reached an agreement to buy out its only external shareholder AHJ Holdings.
Insurers incensed as stolen vehicle unit faces closure
Plans to axe the Metropolitan Police's stolen vehicle unit next year could lead to the insurance industry funding even more police initiatives, it has been warned.
Brokers warned of HSE consultation implications
Insurers and brokers need to make clients aware of a new government-backed system for recovering costs from those who break health and safety laws, an industry expert warned this week.
Postbox: Mediation is a viable alternative
The various debates surrounding the future of referral fees and the resulting impact on the costs of insurance — 'TSC re-opens premiums inquiry as referral fee furore escalates' and 'Referral fees a 'red-herring', claims CSC' - overshadow the fact that…
Santander latest bank to set asside PPI fund with Euros 620m hit
Santander today revealed a net profit of Euro 3.501 bn (down 21%), after setting up an extraordinary fund of Euros 620m in the UK to cover potential claims for payment protection insurance sold in the UK.
Post Magazine – 28 July 2011
This week the Post team reports on the confusion over reports in the Irish press that Quinn Insurance founder Sean Quinn has acquired a Malta-based insurance licence and as set to launch new company Q2 in competition with his former business which fell…
Swiss Re denies Quinn links as regulators probe claims – Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories.
Airlines enjoying "calm before the storm" according to Willis report
A low level of airline industry losses recorded in the first half of 2011 could be the “calm before the storm”, according to Willis’ aerospace division.