News
Industry frustrated at DWP pilot
Insurers, claimants and defendant lawyers all expressed frustration at the Department for Work and P...
Newcastle buy for Smart & Cook
Smart and Cook has purchased the commercial and personal lines account of Newcastle broker Alan Wilson Insurance Services.
EC threatens tax-exempt mutual insurers
The European Commission has recommended that France abolish, by 1 January 2006, the exemption from tax on insurance contracts enjoyed by mutual and provident societies in the case of non-health insurance risks.
Record insured losses in 2004, claims Swiss Re sigma study
According to the latest study by Swiss Re, catastrophes caused insured losses totaling $49bn worldwide; most of this figure was due to windstorms in the US and Japan. More than 300 000 people died in natural and man-made catastrophes in 2004, with the…
CIS continues claims shake-up
The Co-operative Insurance Society will close another seven claims offices and relocate 270 staff.
HBOS GI profits up 9%
Halifax Bank of Scotland Insurance has reported premium income increased by 9% to £1,732m in 2004. The group said all major product lines contributed well, increasing overall profit before tax by 9% to £485m - allowing for the adjustment for the impact…
Barlow joins Towry Law from Marsh
John Barlow has joined Towry Law Insurance Brokers as business unit managers for the corporate general insurance team from Marsh.
Heath Lambert in board shake up
Heath Lambert Group has announced the retirement of Ian Martin, executive chairman. His retirement coincides with his 70th birthday.
QBE seeks to extend European reach
QBE has acquired Greenhill Underwriting Group, a UK-based underwriting agency with offices in Paris, Düsseldorf and Madrid.
Towergate looks to triple business after latest acquisition
Towergate Underwriting Group has acquired specialist Liability underwriting agency, Northern Underwriters Limited, and aims to triple its business to £75m within two years.
GAB group CEO resigns
Joseph Zubretsky, president and chief excutive of GAB Robins group of companies, has resigned from the company effective 15 March. He is set to join Unum Provident as senior executive vice president.
Scott and Frederico not standing for re-election to Ace board
Walter Scott, retired Chairman, president and chief executive, and Dominic Frederico, former president and chief operating officer of Ace have announced that they will not stand for re-election at the Annual General Meeting.
Thousands more jobs shed in Marsh shake-up
Marsh has announced it will axe another 2500 staff.
Marsh makes substantial fourth quarter loss
Marsh & McLennan Companies today reported financial results for the quarter and year ended 31 December 2004.
Converium hit by massive loss
Converium has reported a net loss of $760.8m for the full year 2004, which primarily reflects a net adverse impact of $581.3m on the technical result.
Douetil to become Brit CEO as Eckert steps down
Brit Insurance deputy chief executive Dane Douetil, is to succeed Neil Eckert at the group's AGM on 19 April. Mr Eckert will remain as an executive director until the year end and has agreed to stay on as a non-executive director thereafter.
Insurers fail in bid to stop compensation for pleural plaques
Insurers have failed in their attempt to evade responsibility for compensating thousands of victims ...
Ace gets Vietnam green light
Ace has announced that it has been told by Vietnam's Ministry of Finance that its application to est...
Equitas unveils deal
Equitas and Centre Group, a subsidiary of Zurich Financial Services, have announced an agreement to ...
Ace Limited granted a licence
Ace Limited has been granted a licence by Vietnam's Ministry of Finance to set up a wholly owned lif...
Bermuda's triangle of new financial guarantee reinsurers
Channel reinsurance, Bluepoint re and ascend make up the new wave of start-up companies to wash up on Bermuda
Hedge fund entrants set to shake up market
The hard reinsurance market and its ease of entry offshore has proved too tempting for cash-rich hedge funds to resist
US P&C market premiums down, claims CIAB survey
More than 80% of small and large commercial property/casualty accounts and 90% of medium accounts fo...
California Attorney General reaches agreements
California Attorney General Bill Lockyer has reached agreements with Lloyd's of London and 15 other ...