News
MacMillan given new Hiscox regional brief
Hiscox has appointed Alasdair MacMillan as regional manager for Hiscox in Scotland, Northern Ireland and the Republic of Ireland. Mr MacMillan will be based in Glasgow.
Group Direct strikes deal with More Than Business
Group Direct has announced a partnership with More Than Business to handle its small business referral business.
Willis adds new member for Scottish regions
The Willis Commercial Network has added Hart Insurance Brokers as its 75th member.
Brit appoints personal accident underwriter
Brit Insurance has appointed Keith Thorogood as personal accident underwriter. He joined Brit Insurance’s personal accident team on 20th August 2007 and is reporting to Paul Simmonds.
Gable to resume trading on AIM
Gable Holdings has posted its audited annual report and accounts for the year ended 31 December 2006 to shareholders. The Company’s shares will recommence trading on AIM at 7.30am on Wednesday 22 August 2007.
McConachie adds risk job to Lancashire CFO role
Bermudian (re)insurer Lancashire has announced the appointment of Neil McConachie as chief risk officer of the group.
RMS puts total Dean bill at $0.75bn-$1.5bn
Insured losses from Hurricane Dean , which made landfall in the Yucatan peninsula of Mexico on Tuesday 21st August, are likely to range between just $0.75 billion and $1.5 billion, according to latest estimates by catastrophe modeller Risk Management…
AIR says Jamaica Dean loss will not exceed $1.5bn as Mexico struck
Catastrophe modelling form AIR Worldwide has estimated that insured losses in Jamaica from Hurricane Dean will not exceed $1.5bn.
UK Motor premiums to rise 10% says actuary's report
Motor insurance premiums in the UK are set to rise by around 10% in the coming year, according to analysis by EMB, Europe’s largest firm of non-life actuaries. Despite the widespread public feeling that premiums are already too high, researchers found…
CBG makes £718k first half surplus
CBG Group's shares have risen 4% in morning trading following the news it produced a 43% rise in pre tax profits to £718,000 (2006: £501,000) for the first half of 2007.
Allianz profits rise 3.9%
Allianz Insurance has announced a £105m profit for the first half of 2007, enhanced by an improving commercial lines book and prior year reserve releases.
FD's methods worried internal actuary
Independent's first in-house actuary became concerned by Dennis Lomas' method of examining reserves within months of joining the company, he told the court on Monday. Mairi MacDonald reports .
Government in cash call from EU for floods
The Government has today submitted an application to the European Commission for support from the European Union Solidarity Fund to help recovery from the recent flooding in the UK.
CBG appoints non-executive director
Manchester-based insurance broker CBG appointed Paul Manning FCA to the board of the company today as a non-executive director.
Eqecat puts Dean insured loss at $1.5-$3bn so far
Catastrophe Modelling firm Eqecat has said that based on current storm information provided by the National oceanic and atmospheric administration (NOAA), initial estimated insured losses from Hurricane Dean from the Lesser Antilles islands to Jamaica…
Dean triggers mass evacuation of vast Pemex offshore field
Mexican state oil producer Pemex has initiated a mass evacuation of 13,000 workers from its oil installations in its key Cantarell complex of oil fields in the bay of Campeche as Hurricane Dean approaches.
Industries still face foot and mouth damage
Specialist underwriter Crowe Livestock has warned that the recent foot and mouth outbreak has yet to reveal the full extent of financial casualties among industries that support farming.
Marsh: Sub-prime mortgage crisis could lead to claims increase
Marsh is warning the European financial services sector, including insurance companies, that they may be exposed to greater Directors’ and Officers’ Liability and Errors and Omissions (E&O) liability claims in the wake of the sub-prime mortgage crisis in…
AIR: Typhoon Sepat won't produce large losses
Modelling specialist AIR worldwide has said that it does not expect Typhoon Sepat, which hit Taiwan on Saturday 18th August to produce large insured losses.
The Liability Network creates separate divisions
The Liability Network has created two separate divisions: tln casualty and tln special risks, to better service the liability market.
QBE group profits rise 56%
QBE has announced a 56% increase in net profit for the half year to 30 June 2007 to a record $921m (£372m).
Hiscox announces £733m GWP
Hiscox released its interim results for the six months ended 30 June 2007.
Hurricane Dean will become cat 5
Category 4 Hurricane Dean was located about 50 miles south of Kingston, Jamaica as of 5:00 PM EDT. Maximum sustained winds are 145 mph—unchanged from this morning. Minimum central pressure has risen very slightly to 930 mb.
Lancashire CFO cashes out 84% of stock for $975,000
Class of 2005 Bermudian (re)insurer Lancashire has disclosed that its chief financial officer Neil McConachie has sold 148,025 of his shares in the company at a price of 332 pence each.