News
Hampden Underwriting buys smaller rival
Hampden Underwriting, the Lloyd's investment vehicle, said that it has bought a corporate member of Lloyd's for £500,000 in cash.
Lancashire shares up as FY results beat estimates
Bermudian specialty insurer Lancashire smashed full-year pretax profit expectations when it reported its results on Monday.
Liberty adds Argenta underwriter for binding authority business
Liberty Syndicates, the Lloyd's of London arm of US insurance giant Liberty Mutual, has appointed Giles Taylor to be its deputy underwriter.
Lloyd's takes Swiss Re exec for Beijing post
Lloyd's said it has appointed Ms Bin Yang as the Chief Representative for its Beijing representative office.
AIG vice chairman retires
Frank Wisner, vice chairman, external affairs, is to retire from AIG.
Liberty launches new environmental unit
Liberty International Underwriters Europe, a division of Liberty Mutual Group, has launched a new environmental impairment liability underwriting unit for the UK, Ireland, Continental Europe and the Middle East.
Prudential said to be eyeing AIG's assets - report
Stories in the UK press have re-emerged that UK life insurer Prudential may be eyeing the Asian assets of stricken US insurer AIG.
NU in cannabis warning
Norwich Union today warned landlords to be extra vigilant when vetting tenants and inspecting their properties, with cases of residential cannabis farming continuing to rise.
Lloyds TSB talks of impact of £750m from insurance volatility as HBOS crashes to historic loss
Announcing a trading update today for 2008, Lloyds TSB said it made a pre-tax profit of £1.3bn but suffered from around £0.75bn of "insurance volatility", goodwill write-downs and £0.4bn of aggregate provisions in respect of the Financial Services…
Groupama splits UK business into three
Groupama Insurances has changed its operational structure with specialist business divisions for personal lines, commercial lines and healthcare, each being headed by a director with overall responsibility for divisional performance including bottom line…
MMA relaunches commercial combined policy
Broker insurer MMA Insurance has relaunched its commercial combined policy for small to medium-sized enterprises (SME) as part of its drive to enhance its commercial lines development.
MMA revamps SME offering
MMA Insurance has relaunched its commercial combined policy for SMEs as part of a plan to improve its commercial lines development.
Helphire consolidates business
Helphire has consolidated its Helphire UK and Albany Assistance business units into a single accident management business unit.
Global Aerospace, USAIG lead insurers on Buffalo plane crash - sources
Global Aerospace and US aviation underwriting pool US Aviation Insurance Group are the leaders for the plane crash in Buffalo, New York, which killed 49 people yesterday, Reinsurance can reveal.
Fitch gloomy about Bermuda
Fitch Ratings stated in a Special Report today that its Rating Outlook for the Bermuda (re)insurance market remains 'Negative reflecting uncertainty tied to the continued highly volatile investment markets and a more severe economic recession than those…
PB Week: What can we learn from Scolari's sacking, if anything?
Roman Abramovich's decision to sack Chelsea's manager Phil Scolari after the transfer window reflects the growing impatience for success in football writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
Provident Financial chairman joins Hyperion as non executive chairman
Hyperion Insurance Group has appointed John van Kuffeler as non-executive chairman.
Validus FY net income tumbles
Validus, the Bermudian (re)insurer, said that net income for the year ended December 31, 2008 was $53.1m, compared with $403m, for the corresponding period in 2007.
Argo FY net income more than halves
Bermudian (re)insurer Argo said its full year net income figure more than halved because of hurricanes and investment losses.
Argo FY net income more than halves
Argo said its full year net income figure more than halved because of hurricanes and investment losses.
Endurance net income tumbles on hurricanes and investment losses
Endurance, the Bermudian (re)insurer said that fourth quarter net income fell to $16.9m from $152.5m in the same period last year. For the year ended December 31, 2008, net income was $98.6m, down $521.1m in 2007.
Another Lloyd's insurer redomiciles
Lloyd's insurer Beazley has unveiled plans to change corporate structure through creation of new parent company for the Beazley Group, incorporated in Jersey and tax resident in the Republic of Ireland.
AM Best downgrades Fuji Fire & Marine
AM Best has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and the issuer credit rating (ICR) to "bbb+" from "a-" of The Fuji Fire & Marine Insurance Company, Limited (Fuji Fire) (Japan). The ratings have been placed…
Beazley to raise £150m after acquisition
Lloyd's insurer Beazley this morning announced a US acquisition and £150m capital raising to support growth as it unveiled a profit before tax of £87.2m (2007: £138.5m).