News
Montpelier Re Q1 net income plunges
Montpelier Re, the Bermudian (re)insurer, reported that first quarter net income plunged to just £0.3m from £73.3m in the first three months of 2007 after losses from key commercial properties came through.
Lancashire approves repurchase programme
Lancashire Holdings has approved a share repurchase programme after announcing its results for the three month period ending 31 March 2008.
Gen Re makes Cholnoky president
General Re Corporation, a subsidiary of financial services giant Berkshire Hathaway, has appointed John Cholnoky has been promoted to President of General Reinsurance Corporation and Manager of Gen Re’s global direct Property and Casualty operations. Mr…
Worst Q1 US Cat losses in a decade - PCS
U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35bn for first-quarter property losses resulting from nine catastrophes, according to US industry body PCS.
A Plan MBO backed by major bank
A Plan Insurance, the high street broker, has chosen Barclays Private Equity to be its partner in a management buy out that sees 32% of the equity pass to the A Plan management team.
Aon wins worldwide Unilever contract
Aon Corporation has won the contract to service Unilever’s business lines worldwide.
Aon wins Unilever contract
Aon Corporation has won a contract to to serve the needs of Unilever's business lines worldwide.
Brokers set for come back, says Defaqto
Despite much being written about their demise over the past decade personal lines brokers are set for a come back thanks to aggregators, according to Defaqto.
Admiral CEO sees little movement on price in Q1
Henry Engelhardt, Admiral chief executive, has warned of little movement on price in the first quarter of 2008.
Aviva to sponsor Norwich City FC after dropping Norwich Union name
Aviva is sponsoring Norwich City FC after announcing it is changing Norwich Union’s name.
Aviva confirms NU name to be dropped in global rebrand
Aviva has confirmed its plan to move to a worldwide brand, with the replacement of the Norwich Union, Commercial Union Poland and Hibernian brands.
Aon puts in place new UK regional heads
Aon has promoted Jane Kielty and Lisa Bartlett to the roles of branch director in Manchester and Birmingham, respectively.
System helps police trace £0.5m worth of stolen cars
ALD Automotive’s in-car telematics system has helped police recover £500 000 worth of stolen cars.
Partner writes more to earn less in 1Q 2008
Partner Re increased net written premiums in the first quarter of 2008 compared to the same period a year earlier due to the weak US dollar and the impact of last year’s acquisition of the international renewal rights of Mutuelle Central de Reassurrance …
Lord Levene continues to stress US platform goal
Lloyd’s chairman Lord Peter Levene has stressed that building Lloyd’s platform in the United States is one of the most important goals of the organisation at the Risk and Insurance Management Society’s annual conference in San Diego.
Lockton positions itself for long, difficult soft market
Lockton is conditioning itself for a potentially long and difficult soft market cycle as it begins a new fiscal year 1 May.
Axis Capital Q1 net income up 4%
Axis Capital, the Bermudian (re)insurer, reported a 4% rise in first quarter net income.
Brokers troubled by FSA paper says IIB
The Institute of Insurance Brokers has said it has received feedback from "many troubled members" in connection with the Financial Services Authority discussion paper - Transparency disclosure and conflicts of interest in the commercial insurance market .
Atradius Collections expands global reach
Revenues at Atradius Collections – part of trade credit insurer Atradius Group –increased by 18.1% in 2007 following the opening of five new offices worldwide.
Aon trio in broking start up
A trio of former Aon Trade Credit employees have formed Credit Insurance Alliance (Brokers).
Support for international insurance standard
A new report by Ernst and Young has found the insurance industry in favour of the International Accounting Standards Board developing a global insurance standard.
Primary General Launches a Contractors Policy
Primary General has launched its new Contractors Policy.
Sterling Launches New Executive Plus Product
Following extensive market research and consultation with its broker partners, Sterling Insurance has launched its new high net worth policy, Executive Plus.
Flagstone Re to buy 29.9% of Alliance Re
Flagstone Re has said that it has agreed topurchase up to 29.9% of Cyprus-domiciled specialist property and casualty reinsurer Alliance Re from current shareholders.