News
Charles Taylor Consulting makes acquisition
Charles Taylor Consulting (CTC), the management and consultancy services provider has acquired rival Axiom Holdings Limited, an independent insurance and reinsurance support specialist for a maximum payment of up to £7.85m.
Allstate in heavy Q1 loss
Allstate, the US insurance giant, reported a first quarter net loss of $274m, down from a gain of $348m in the first quarter of 2008.
AIG Q1 results worse than analysts' expectations
AIG managed to stem its losses in the first three months of the year, but still missed analysts' expectations.
Swiss Re to close Johannesburg office
Swiss Re is to close one of its offices in South Africa as part of a cost-saving initiative, Reinsurance can reveal.
NIG names new boss as part of RBSI exec shake up
Royal Bank of Scotland Insurance has named the man who will take over its broker-facing insurer NIG as part of a wider shake up of its executive team.
London market broker names new CEO
Glencairn has promoted Nick Cook to the role of chief executive officer, effective immediately. Previously a director and senior Partner of Glencairn and head of its property division, Mr Cook succeeds Steve Hearn, who will remain executive chairman of…
Former BIA achievement winner Mahoney to retire from Aon after 25 years
Former Aon UK chairman and chief executive Dennis Mahoney has announced plans to retire from the broker. Mr Mahoney won the British Insurance Awards lifetime achievement award in 2006.
Munich Re launches nat cat google earth for insurers
Munich Re has developed a "Google Earth" for insurers to track natural catastrophes– which is available free to the general public. As part of its push to highlight climate change, the world's largest reinsurer has produced a DVD to be used by insurers,…
Compare the Market expands home insurance panel
Compare the Market has added seven new brands to its home insurance price comparison service.
Biba teams up with Gallagher London for environmental liability scheme
The British Insurance Brokers' Association (Biba) has launched the Biba Environmental Liability scheme in conjunction with Biba member, Gallagher London.
Endurance reports first quarter net income of $78.3m
Endurance Specialty Holdings has reported net income of $78.3m for the first quarter of 2009 versus net income of $77.8m in the first quarter of 2008.
Insurers should not underestimate work involved for SII implementation
Ernst & Young has warned insurance companies to recognise the urgency of meeting the 31 October 2012 deadline for Solvency II.
Broker Direct makes fourth acquisition
Broker Direct has completed the acquisition of Scunthorpe-based Barry Fenton Insurance Brokers based.
RSA sees "competitive" UK market NWP shrink
RSA today reported group net written premiums of £1.9bn for the first quarter, up 8% (in line with 2008 at constant exchange rates). The insurer added it expects to deliver a COR of around 95% in 2009.
Premiums are on a 'knife edge' - Aon
UK companies renewing insurance in Q2 could be paying equal or less premium with just 50% of underwriters pr edicting an increase in property rates, according to Aon's quarterly index Market Pulse.
Keelan Westall renews BibaLet contract
Commercial property insurance broker Keelan Westall – part of the Property & Commercial Division of Barbon Insurance Group – has renewed its contract to operate BibaLet.
Arag recruits trio from major insurers
Arag has strengthened its underwriting and claims departments with the recruitment of three additional staff.
Endurance Q1 net income improves
Endurance Specialty Holdings, the Bermudian (re)insurer, said that net income for the first three months of the year rose to $78.3m from $77.8m in the first quarter of 2008.
Easy Jet unveils new insurance arrangement
Mondial Assistance has renewed its successful relationship with low cost airline Easy Jet with a five year pan-European agreement.
Zurich GI profit cut by 25%
Zurich has reported that its general insurance gross written premiums decreased 12% to $9.8bn and a decline in profit of 25% to $889m. Its general insurance combined ratio worsened 1.2 points to 95.8%.
Beazley sees premium up 27% in the first quarter
Lloyd's insurer has reported that gross premiums written to the end of March were £256.2m, which was 27% above 2008 at the same stage.
Zurich Q1 profits fall 40%
Zurich Financial Services, the Swiss insurance giant, said that first quarter net income fell 75%.
Beazley reports jump in GWP
Beazley, the Lloyd's (re)insurer, said that gross written premiums for the first three months of the year were up 27% on last year.
Swiss Re beats analysts' expectations with Q1 profit
Swiss Re, the Swiss (re)insurance giant, beat analysts' expectations when it said that it had recorded net income in the first quarter of the year.