Lloyd’s/London
Willis aims for $180m in global cost savings to fund end to pay freeze
Willis in undertake a global review of its operations in the first quarter of 2011 to help fund the end to its salary freeze.
Catlin bolsters 2010 result with US$144m reserve releases
Catlin Group this morning reported a US$406m (£253m) pre tax profit before tax for 2010 (2009: US$603m).
Beazley targets M&A in the wake of Solvency II
Beazley expects to reap "significant benefits" from merger & acquisition opportunities presented by Solvency II, if the new rules prove difficult to implement for some insurers.
Editor's comment: Never mind the setbacks
"There's unlimited supply. And there is no reason why". No, I'm not talking about the overcapacity in the UK motor market, but the opening lines to EMI by the Sex Pistols.
APPG - 20 years in force: Representation for the industry
With its 20th anniversary just passed, David Worsfold looks at the success of the All Party Parliamentary Group on Insurance & Financial Services, detailing some key highlights from two decades of debate.
Chaucer confirms bid rumours as Terra Firma enters frame
Chaucer has again become the subject of speculation in the market after it was revealed "a number" of potential buyers have made provisional approaches for the firm.
Mobile technology - Brokers: How can technology benefit the way brokers do business
With more advanced smartphones and tablet computers, Rachel Gordon asks if mobile technology is merely the latest passing fad, or the shape of the future for the broking community.
Interview - Marshall King: RFIB plans for the future
Softly spoken Marshall King has a track record worth shouting about. Lynn Rouse finds out about his plans to make sure everybody hears about broker RFIB.
AIG to strengthen Chartis balance sheet by $4.1bn after loss reserve review
Following completion of its annual comprehensive loss reserve review, AIG said today it expects to record a $4.1bn charge, net of $446m in discount and loss sensitive business premium adjustments, for the fourth quarter of 2010 to strengthen loss…
Insurer scoffs at ABI gender ruling warning – Insurance News Now – 10 February 2011
Post news editor Mairi MacDonald outlines this week’s major general insurance stories, including the refusal of specialist female insurer Shelia’s Wheels to accept the Association of British Insurers’ suggestion that it could potentially have to re…
Xchanging predicts year-on-year fall in 2011 profit
Xchanging chief executive and founder David Andrews has stepped down from the role of chief executive with immediate effect.
Councils claim Supreme Court victory
The Supreme Court has found unanimously in favour of Harrow in the RMP v Brent/Harrow case.
Jubilee enters terrorism market
Jubilee Managing Agency has entered the terrorism market after employing Marcus Ripley, a former Hardy underwriter.
THB reports 32% rise in 2010 broking profit to £7m
THB this morning reported fee and commission income in 2010 was up by 5% at £48.4m (2009: £46.2m).
Willis appoints new CEOs as it unveils management changes
Willis Group has today announced a series of leadership appointments in its reinsurance, wholesale and placement divisions.
Beazley focuses on M&A as profit rises to $251m
Beazley has confirmed that acquiring businesses in its target markets remains a key priority despite its failed bid to acquire Lloyd’s competitor Hardy towards the end of last year.
Chaucer confirms potential offers
Chaucer has confirmed that it has received a "number of approaches" recentlly, regarding a possible offer.
Trio joins Ecclesiastical's City team
Ecclesiastical has boosted its London regional centre underwriting team with the appointments of two underwriters and a regional sales manager.
Brit share deal extended again
The deadline by which Brit shareholders can accept or decline Achilles offer for the company has been extended for a sixth time.
Chaucer completes coverholder partnership with CMS
Chaucer has completed a new coverholder partnership with Coastal Marine Services to underwrite hull and machinery and protection and indemnity risks.
Beazley introduces environmental underwriting
Lloyd’s insurer Beazley has extended global environmental practice to meet the growing demand for pollution coverage.
Aon hails affinity as it reports 6% rise in UK Q4 2010 organic growth
Aon has reported a 3% fall in UK retail broking income to $629m (£392.1m) in the year ended 31 December 2010 (2009: $650m).
QBE reveals $245m weather hit, but profit in line with expectation
QBE has announced that its 2010 net profit after tax in line with market expectations after a record underwriting profit but a lower insurance margin from continuing low interest yields in the US and UK.
LMA issues Egypt alert
The situation in Egypt is being monitored by underwriters and their security advisers.