Lloyd’s/London
JLT restructures UK business to capitalise on new MGA unit
News comes as broker reported a 14% rise in fees and commissions to £612.9m (2008: £536.1m) and a 28% jump in underlying profit excluding exceptional items to £97.1m (2008: £76.2m).
Berkshire Hathaway net income jumps
Berkshire Hathaway's fourth quarter and yearly net income increased.
Argo moves into marine cargo
Argo has added marine cargo to its portfolio appointing Nick Derrick from Chubb Insurance as class underwriter to lead the new business.
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).
Jubilee announces new senior appointments
Jubilee has today announced the next stage of its strategic growth plans with Clive Buesnel as their new group chief executive officer and Andreas Loucaides as group development director.
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).
Post in print - 4 March issue
Post reporter Dan Dunkley outlines the major news stories from this week's issue of Post.
Amlin results show record profit
Profits at Amlin up by over £370m from 2008. However, group results padded by £174.1m reserve releases.
Chilean earthqauke may cost $15-30bn, says Eqecat
The earthquake that struck offshore of Southern Chile could cost $15-30bn, according to risk modelling firm Eqecat.
AIG shares down 8% after reporting heavy losses
Shares in AIG were down 8% in mid-morning trade on the New York Stock Exchange after the beleagured insurer reported a net loss of $8.9bn in the fourth quarter of 2009.
QBE Europe profits dip on back of increased claims
The business reported a rise in incurred claims to A$2.01bn (2008: A$1.76bn), whilst its expenses reduced to A$426m (2008: A$483m).
Lancashire net profits rise despite fall in premiums
Lancashire's net profits rose in the fourth quarter and in 2009 despite a fall in gross written premiums during the periods.
Price Forbes Fac brokers leave - sources
Four facultative reinsurance brokers have left Price Forbes amid rumours that it is closing its facultative reinsurance broking team, Reinsurance has learned.
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.
In Series - Solvency II: Stretching for the summit
Preparing for Solvency IIis turning out to be a much bigger challenge than many initially anticipated. Sam Barrett reports on what companies are doing to scale up in time.
Election 2010: Interview - Mark Hoban MP, Conservative
If the Conservative Party regains power at the 2010 elections, the insurance industry can expect to see a massive shake-up. In the first of Post's six-part profile of all the major parties Stephanie Denton talks to MP Mark Hoban, shadow minister for the…
Fenchurch in Temple tie-up
New legal practice Fenchurch Law has agreed a deal with legal expenses insurer Temple Legal Protection to offer clients after-the-event policies on a delegated authority basis.
Guy Carpenter COO to leave company- sources
Another senior member of Guy Carpenter's executive committee has resigned from the broker, Reinsurance has learned.
Lloyd’s named UK’s strongest insurance brand
Specialist insurance market Lloyd’s has been named as the UK’s top insurance brand.
Senior executive leaves Allied World
One of Allied World's senior international property underwriters has left the Bermudian (re)insurer, Reinsurance has learned.
HSBC insurance boss to step down
Clive Bannister will be replaced by Asia boss David Fried, according to Reuters.
Lloyd's broker expands overseas footprint with acquisition
Windsor has completed a deal for the minority interest in BGH Risk Solutions, a liability broker that operates in Canada, New Zealand and Australia.
AM Best "positive" on global non-life reinsurance sector
The current outlook implies that the majority of 2010 reinsurer rating actions are likely to be affirmations, with only a modest number of anticipated rating or outlook changes.
Energy insurance costs expected to fall by up to 20%
Despite an increase in the size and scale of new energy infrastructure projects, national oil companies and other energy and chemical concerns are experiencing fewer and less-severe major losses than in previous years, according to Marsh.