Commercial
Brit opens books to PE house as Apollo ups bid to £10.75 a share
Brit Insurance today confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
Marsh appoints new claims leader
Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.
Marsh appoints new claims leader
Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.
NIG set to exit personal lines
Royal Bank of Scotland insurer NIG has outlined plans to close its personal lines division and focus solely on commercial business.
Transatlantic Holdings records fall in income
Transatlantic Holdings has recorded a second quarter net income of $111m, or $1.70 per common share (diluted), compared to $112m, or $1.68 per common share (diluted), for the same quarter last year. It saw a $14m hit from the Deepwater Horizon explosion.
Ecclesiastical unveils new CEO
Specialist insurer Ecclesiastical has appointed Andrew Moon as the new chief executive officer for its Australian business, Ansvar Insurance. The move comes after former CEO John Peberdy announced his retirement from the business after 37 years, earlier…
Heath Lambert raids Aon for PFI specialist
Heath Lambert has added former Aon PFI special purpose specialist Stephanie Ottey to its PFI advisory team.
Quadra appoints senior adjuster
Quadra Claims Services has named former Carr Greenwood Smith employee Iain Johnston as a senior adjuster.
Sterling in broker survey boost
Sterling Insurance has welcomed positive feedback from brokers on its claims service and Executive Business product, as the insurer published results from its annual online broker survey.
Argo expands D&O team
Argo International has expanded its directors' and officers' team with the appointment of Rita Mistry and Anthony Hope.
Bridle acquires Southampton Insurance Services
Bridle Insurance has completed the acquisition of Southampton Insurance Services for a six figure sum.
QBE adopts US dollar for reporting as it forecasts 40% profit drop
QBE has decided to adopt a US dollar presentation currency for 2010 onwards, as it is claims this is more relevant for measuring performance given that around 75% of business is now written in 48 overseas countries, and over 50% of annualised premium…
JLT strikes Euro alliance with three continental powerhouses
Three European independent insurance brokers, Siaci Saint Honore, Greco Group and Ecclesia Group have come together with Jardine Lloyd Thompson to sign an exclusive trading agreement.
Fortis recruits quartet in SME commercial push
Fortis has bolstered its commercial lines underwriting and business development teams with the recruitment of senior staff.
QBE adopts US dollar for reporting as it forecasts 40% profit drop
QBE has decided to adopt a US dollar presentation currency for 2010 onwards, as it is claims this is more relevant for measuring performance given that around 75% of business is now written in 48 overseas countries, and over 50% of annualised premium…
JLT strikes Euro alliance with three continental powerhouses
Three European independent insurance brokers, Siaci Saint Honore, Greco Group and Ecclesia Group have come together with Jardine Lloyd Thompson to sign an exclusive trading agreement.
Shortlist announced for Fraud Awards 2010
The shortlist for the 2010 Insurance Fraud Awards has been announced. The event, which recognises the industry’s continued efforts to combat and prevent fraud and encourage the spread of best practice and excellence across the sector will take place on…
Allianz outlines SME business increase
Allianz saw new business through its online trading platform Quote SME increase by 68% between the first and second quarter, the insurer has revealed.
Beazley sees rates go backwards on renewals as it hits $115.5m profit
Lloyd's insurer Beazley achieved a profit before tax of $115.5m (2009: $30.1m). It added the profit before income tax and earnings per share includes an exceptional foreign exchange gain of $33.7m.
ABI confirms insurance fraud hit £16m a week in 2009
Insurers are detecting more fraudulent insurance claims than ever according to figures released today by the Association of British Insurers.
Fraud Awards shortlist announced as ABI unveils latest detection figures
The shortlist for the 2010 Insurance Fraud Awards - recognising excellence and best practice in combating and preventing insurance fraud - has been announced today.
Ex-Morgan Stanley COO joins Kiln
Kiln has appointed Ray Faires to the newly created role of chief information officer.
Ironshore enters space market
Ironshore's aviation division has entered into a treaty reinsurance program with the Starr Group to provide protection against commercial satellite risk.
Giles-owned Ink bids for Westinsure
Giles owned-managing general agent Ink has made an offer to acquire Westinsure.