News
New chairman at the CII’s London Market Faculty
David Gittings has stepped down as chairman of the Chartered Insurance Institute's London Market Faculty board, and that the new chairman is Adrian Ballardie of Tokio Marine Global.
Validus files legal proceedings against IPC and Max
Validus has filed legal proceedings in the Supreme Court of Bermuda against IPC Holdings and Max Capital challenging the $50m break fee and 'no-talk' in the latter companies' merger agreement.
Novae GWP rises 28%
Novae, the Lloyd's (re)insurer, said that gross written premiums for the first quarter of the year were up 28%.
Higher brokerage revenue pushes Gallagher's Q1 net income up
Higher brokerage income pushed Arthur J. Gallagher's net income during the first three months of the year, the company said.
Swiftcover Iggy Pop ad banned
Swiftcover has been stopped from using Iggy Pop in its marketing by the Advertising Strandards Association because it would not insure musicians.
Hub International sells most of its Florida business
Hub International Limited, the US broker, said that it is selling its Florida unit, Hub Florida to former owner Hector Fortun for an undisclosed amount.
Validus files lawsuit against IPC Holdings and Max Capital
Validus, the Bermudian (re)insurer said that it has filed legal proceedings in the Supreme Court of Bermuda against rival IPC Holdings, IPC Limited and other rival Max Capital, in an effort to challenge the $50m break fee and "no-talk" provision…
Ace cheers Wall Street with strong Q1 showing
Switzerland-domiciled (re)insurer Ace cheered Wall Street when it reported a 50% rise in first quarter net income.
Arch Q1 falls but analysts impressed
Bermudian (re)insurer Arch Capital reported net income for the first quarter of the year to end-March was $139.9m, down from $189.4m.
Marsh outlines Swine Flu business risk
Broking giant Marsh has urged business to update their continuity and crisis management plans in case the outbreak of Swine Flu worsens.
Sibthorpe in active underwriter job as WR Berkley starts new syndicate
WR Berkley has announced the formation of W. R. Berkley Syndicate 1967, a new syndicate at Lloyd's of London approved to commence underwriting business on June 1.
NIG to close eight branches in shake up
NIG has announced a proposal to reduce its offices from 18 to 10.
Angel Underwriting launches D&O finance scheme
Small business directors and officers specialist Angel Underwriting has launched an interest free direct debit payment scheme across its entire range of D&O and professional indemnity policies.
Admiral reveals Q1 18% turnover increase
Admiral Group has announced an 18% increase year-on-year in turnover to £270m for the first quarter of 2009.
US claims audit firm opens Europe operation in London
Alan Gray has set up a European operation based out of offices in London and appointed Julian Ward, former CEO of JTW Reinsurance Consultants, as its director of European Operations.
Zurich hires Endsleigh MD as new broker chief
Mike Alcock, the current managing director of Endsleigh, has been appointed to the newly-created role of head of distribution development at Zurich, as of 1 May.
Buildings premiums up for eighth quarter running
The first quarter of 2009 saw the average quoted premium for an annual buildings insurance policy rise for the eighth successive quarter, adding a further 50p and taking it to a new high of £218.53, according to the AA's benchmark British Insurance…
AA sees first Q1 motor premium hike in six years
The average quoted premium for an annual comprehensive car insurance policy rose by more than 1 per cent over the first quarter of 2009, according to the AA's latest benchmark British Insurance Premium Index.
Loss adjuster signs major partnership deal with Legal and General
Following a comprehensive review of the way in which its household insurance claims are managed, Legal & General has decided to working more closely with Merlin Claims.
Broker joins Lockton from JLT
Mike Riddick has joined Lockton as an executive director on the broker's marine hull team after spending 14 years at Jardine Lloyd's Thompson, the group has said.
Power Place unveils Fortis Shop product
Power Place has linked up with Fortis to offer its Shop policy through its Open Trader software.
Swine Flu: World Health Organisation raises alert level to four
The World Health Organization has raised its alert level to four - just two notches below 'pandemic' level - for the swine flu after senior health officials said that the virus could not longer contained.
Fortis senior exec defects to Aon Benfield
Jean-François Walhin, formerly the head of reinsurance and non-life at Fortis, has moved to Aon Benfield to become the broker's head of analytics.
Advent posts Q1 gain
Advent, the Lloyd's (re)insurer, posted a pretax profit of £1.8m, up from a pretax loss of £5.5m this time last year.