Claims
Fitch: French windstorm losses material, but managable
Fitch does not expect losses from the catastrophe to result in a material capital erosion for the French insurance market. The agency expects that the rating actions due to the storm are likely to be limited.
RSA hit with £30m earthquake loss
RSA expects a financial impact of £30m, net of reinsurance, for claims arising from the earthquake in Chile.
Post in print - 25 March issue
Dan Dunkley outlines the major news headlines from this week's issue of Post, including CGS founders considering start-up, MMA to open three new branches, Medicals Direct targeting £40m turnover, Oval's purchase of JL Fisher and Junction seeking new…
40 killed in Europe windstorm
Northern and western France and parts of Germany have been battered by a severe windstorm in the last 48 hours that has caused at least 40 deaths.
40 killed in Europe windstorm
Northern and western France and parts of Germany have been battered by a severe windstorm in the last 48 hours that has caused at least 40 deaths.
Xchanging grows revenue by 35%
Xchanging has reported a 35% increase year-on-year in revenue to £750.4m in 2009 (2008: £557.8m) while underlying operating profit also grew 35% to £63.9m (£47.3m).
Xchanging grows revenue by 35%
Xchanging has reported a 35% increase year-on-year in revenue to £750.4m in 2009 (2008: £557.8m) while underlying operating profit also grew 35% to £63.9m (£47.3m).
Earthquake claims more than 700 lives
A major earthquake measuring 8.8 magnitude off the the cost of southern Chile has killed at least 700 people and caused economic damage of up to $30bn (£19.8bn).
Strong London market performance helps Hiscox treble profits
Hiscox has reported gross premiums written £1.44bn (2008: £1.15bn) and pre-tax profit of £320.6m (£105.2m).
Strong London market performance helps Hiscox treble profits
Hiscox has reported gross premiums written £1.44bn (2008: £1.15bn) and pre-tax profit of £320.6m (£105.2m).
CFC partners with Crawford
Underwriting agency CFC has appointed Crawford & Company to provide claims administration services to its brokers and clients.
Apil “disappointed” at plaques decision
The Association of Personal Injury Lawyers said it has always believed the House of Lord’s ruling should be overturned, so the government’s decision on pleural plaques is a disappointing end to a long, drawn out consultation process.
Allianz Insurance profit up 5.2%
The UK arm of the German giant recorded a combined ratio down 2.3 percentage points to 92.9%, with the retail business improving its COR by 8.2 percentage points over 2008.
HCML names new CEO
Rehabilitation provider HCML has appointed Keith Bushnell as its new chief executive, replacing former CEO Helen Merfield who takes up the new role of founder and clinical director.
Lloyds GI book hit by £156m rise in claims
The group saw its general insurance profit dip 32% in 2009 to £367m (2008: 537m) and overall insurance arm profit fall 34% to £1.2bn (2008: £1.54bn).
Helphire results improve for second half of 09
However, credit hire firm reports an statutory loss before tax of £0.4m.
Thompsons' mixed reaction to government's asbestos decision
Thompsons Solicitors has expressed disappointment at the decision not to restore compensation for people with pleural plaques in England & Wales.
Union rejects pleural plaques compensation decision
Justice Secretary Jack Straw has confirmed that the government would only compensate (through an ex-gratia payment of £5000) people with pleural plaques in England and Wales who had lodged a legal case prior to a Law Lords decision in 2007 to bar…
Capita turnover increases 10%
Capita has reported an increase in turnover of 10% to £2.69bn (2008: £2.44bn). Underlying profit rose by 11% to £357.7m (2008: £320.9m) and underlying profit before taxation increased by 17% to £325.1m (2008: £277.2m).
Looking Back - Recall costs could reach the billions
Insurers will not foot the bill for the biggest product recall in UK history — but the cost of paying out on related policies, defending claims and establishing liability, could reach billions of pounds.
Looking Back - Inquiry into the missing Salem tanker
Fraud squad officers are planning a month-long inquiry in South Africa, Greece and Liberia into the riddle of the missing $24m tanker Salem (215 000 tons) and its oil cargo worth $56m, which vanished en route to Europe in January.
Law reports: Wincanton loses appeal against liability for second injury
Robert Eric Spencer v Wincanton Holdings (Wincanton Logistics) (Court of Appeal — 21 December 2009)
Law reports: Appeal court leaves costs decision alone
Sughra Sulaman v Axa Insurance and another (Court of Appeal — 9 December 2009)
Law reports: Council appeals successfully against horse fair charge
Glaister and others v Appleby-in-Westmorland Town Council (Court of Appeal — 9 December 2009)