News
ABI says legislation is needed to tackle flooding
The Association of British Insurers has welcolmed today’s announcement in the draft Queen’s Speech that the government plans to consult on a draft floods and water bill, following publication of the Pitt Review into last summer’s floods.
Post Pick of the Week
Post online and supplements editor Stephanie Denton and editor Jonathan Swift look at the week's major general insurance news, including: Axa's plans to merge its broking arms Venture Preference and SBJ; how Willis has split its staff over its 'Hothouse…
BGL bolsters partnership arm
BGL Group has appointed James de Rose to the role of director responsible for insurer partnerships.
Aspen buys out original investor Candover for $100m
Aspen, the international specialty (re)insurer, has bought out Candover Partners, one of its original investors, for $100m as part of its $300m share buyback program.
Paris Re stumbles into red in Q1 on FX loss
Paris Re, the French reinsurer, reported a first quarter loss of $129.5m compared with a gain of $35.6m this time last year due to a $183m monster foreign exchange loss.
AIR: China quake to produce $300m-$1bn insured losses
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses from the Chengdu earthquake are likely to exceed 2bn yuan ($300m) and could reach 7bn yuan ($1bn). The estimates cover property losses for residential, commercial, industrial and…
Air estimates insured losses from China quake to exceed $300m
Catastrophe risk modeling firm Air Worldwide estimates that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140bn ($20bn).
Big rise in theft of catalytic converters says insurer
A large increase in thefts of catalytic converters from cars has been reported by insurer yesinsurance.co.uk.
Keelan Westall announces key promotion
Keelan Westall has promoted Lisa Feaver from team leader to head of broker services.
Travelers launches new film wordings
Travelers UK has launched three new film wordings for the digital age.
Willis stands tall
Willis has unveiled its new award-winning headquarters – which at 28-storeys high is the fourth tallest skyscraper in the City of London.
Sub-prime claims still within expectations- Levene
Lloyd’s chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage disaster is still within expectations.
Swinton launches two new brands as it reports record profit
Swinton has reported a seventh consecutive year of profit growth with £48.3m (a 27% increase) on increasing gross premiums of £665.8m (up 39%) for the 12 months ended 31 December 2007.
Travelers UK launches three new film wordings for the digital age
Building upon its entry into the Media and Entertainment market last year, Travelers UK has launched three new wordings for the film industry. An advantage to the new wordings is that they cater to the significant advances made with High Definition and…
Aviva strikes £300m deal for UK and India communications
Cable and Wireless today announced it has signed a new six-year contract with Aviva, worth £300m.
CCR hails rebalancing of book
French state-backed catastrophe reinsurer CCR has unveiled 2007 results that saw it hit its target of reducing open market business to a third of its book.
Greenlight Re Q1 net loss improves 63%
Greenlight Capital Re, the Cayman Islands-registered (re)insurer, said that it had reduced net loss to $4.8m from $13.1m a year before.
Greenberg blasts AIG performance in board letter
AIG are a company in “crisis”, according to its former chief executive, Hank Greenberg.
Brit appoints Turner as active underwriter of Syndicate 2987
Brit Insurance Holdings has appointed Jonathan Turner as active underwriter of Syndicate 2987.
Businesses must face up to liability challenge warns Lloyd's
Businesses could be facing a future liability crisis if they do not face up to growing litigation issues Lloyd's warned today.
Sub-prime claims still within expectations - Lord Levene
Lloyd’s chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage disaster is still within expectations.
Heath Lambert continues Sheffield expansion
Heath Lambert Group has moved to new premises in Sheffield to make room for further expansion.
Oval confirms Aberdeen acquisition
Oval has confirmed it has acquired Aberdeen insurance broker Independent Insurance Brokers, as reported in Post last week (Post, 8 May, p2).
Marsh appoints construction PI leader
Marsh has appointed Martin Stubbs as a senior vice president for construction professional indemnity within its financial and professional services (Finpro) practice in London.