Lloyd’s/London
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign…
Axa Corporate growth
Axa Corporate Solutions posted a 2.3% growth in 2009 turnover on a comparable basis, reaching E1.93bn (£1.75bn), while underlying earnings were up by 17% at E133m
Novae pre-tax profit fall
Novae Group has posted a 35% fall in adjusted pre-tax profit in 2009, hurt by aviation reinsurance and credit losses in the first half of the year.
Beazley Furlonge results
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd's.
QBE shakes up European arm
QBE Europe has puts its asset protection book into run-off, following a restructure of its product underwriting and distribution model.
Total 100% liable
Insurers have moved closer to recovering an estimated £750m in claims from Total, stretching back to the Buncefield oil depot explosion.
Ambant appoints former FSA associate to head up new unit
Ambant has created a new business practice to help brokers and underwriters respond to scrutiny from the Financial Services Authority.
View from the top: The tipping point
In his best-selling book The Tipping Point, Malcolm Gladwell says that ideas and behaviours spread like viruses, and that intervention (or a nudge) at just the right point — the tipping point — results in a cascade of change.
Swiss Re gives quake and Xynthia loss estimates
Reinsurer claims losses for the European winter storm to be approximately $100m.
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
PYV launches investment fund division
Lloyd’s professional indemnity insurance broker launches business unit to offer bespoke insurance products and services for traditional and alternative funds.
The Aldermanbury Declaration - is it the way forward?
Post, as part of its Investing in the Profession Campaign, is hosting this week a special, live, and interactive, online debate on the insurance industry's latest initiative to boost professionalism - The Aldermanbury Declaration.
Liberty raids Marsh for Hogg to lead strategic assets arm
The arm aims to develop and underwrite a range of specialist risks including intellectual property, reputational risks, cyber insurances and non-material damage business interruption.
Marsh to take $600m hit on Kroll disposal
The Financial Times reports The Carlyle Group, Apax Partners and General Atlantic have all entered bids by the deadline for first expressions of interest in late February.
Beazley delivers syndicate result
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd’s.
Jubilee backs scheme for rally drivers
Jubilee Managing Agency has been appointed to provide an amateur motor sport personal accident scheme for amateur race and rally drivers who hold Motor Sport Association competition licences.
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
Holman's appoints new managing director
Lloyd’s broker John Holman & Sons has appointed Angela Tjay Mazuri as managing director.
Lloyd’s partners with QuIC for Solvency II preparations
Specialist insurance market Lloyd’s has selected QuIC Financial Technologies to aid its preparations for Solvency II.
Glacier agrees space deal
Glacier Insurance is to support the Space In-Orbit Insurance Consortium led by Sciemus Space Insurance Services with immediate effect.
Chaucer profits back in black
Chaucer has reported profit before tax and foreign exchange on non-monetary items of £75.3m (2008 loss £59.5m).
Corporate tax cut in New York proposed by NYIE - Wrynn
The New York Insurance Exchange may seek lower federal corporate tax to enhance its appeal, according to the Insurance Superintendent
Cooper Gay to make cuts in aerospace division
Cooper Gay is making redundancies in its aerospace division, Reinsurance has learned.