News
Axis says Q4 net income drops over 50%
Axis Capital, the Bermudian (re)insurer reported significant drops in net income for the fourth quarter and full year, impacted by investment losses.
Novae says has entered into due diligence on Chaucer
Novae said that it has started due diligence on Lloyd's (re)insurer Chaucer with "a view to confirming the expected material benefits that could arise from a combination of the companies' complementary operations," the company said in a statement.
RSA adds to bodyshop network
RSA has acquired a new Quality Repair Centre (QRC) in Stockport. This will be the company's sixth automotive bodyshop dedicated to repairing its customers' motor vehicles.
Crawford announce fourth quarter and annual results
Crawford and Company has reported improvement in 2008 fourth quarter and annual results for the year ended December 31, 2008, after revealing net income increases over 150% on revenue growth of 7%.
Former Axa manager joins Fortis broking arm
Fortis Insurance Solutions, formerly The Outright Company, has appointed Anthony Lewis to the newly created position of director of commercial and pricing.
Brit says FY pretax profit will be significantly higher than current consensus; ups Ike loss estimates
Brit Insurance said that full-year results would be 'significantly higher' than the £32m current market consensus.
Chaucer says to continue with £75m public offering
Chaucer, the Lloyd's (re)insurer that has been subject of a number of merger proposals, said that it will continue with its raising of £75m to shore up its capital position.
Chaucer bidder asks it to put £75m fundraising on hold
Lloyd's insurer Chaucer has revealed that one of its prospective bidders has asked it to put its fund raising on hold.
FM Global opens new office
FM Global has opened an insurance branch office in Amsterdam.
Transparency of claims is growing issue, say AMII and Biba
Transparency of claims is a growing issue for many in the PMI sector, according to the Association of Insurance Intermediaries and British Insurance Brokers' Association.
Two elected to Insurance Hall of Fame
The International Insurance Society (IIS) today announced two insurance leaders as the 2009 winners of the prestigious Insurance Hall of Fame Award to former GEICO chief executive Jack Byrne and former Lloyd's chairman Sir David Rowland.
Ariel Re denies Chaucer interest
Bermudian reinsurer Ariel Re has denied that it is talks with Lloyd's (re)insurer Chaucer.
Helphire to axe up to 130 jobs
Up to 130 staff face redundancy at Helphire after the company entered a consultation process.
Pacific Life Re in £1.5bn life reinsurance transaction
Pacific Life Re said it has completed a longevity only reinsurance transaction with UK life insurer company Abbey Life, relating to a portfolio of in-payment annuities with underlying liabilities of £1.5bn.
WR Berkley says FY net income off 63%
WR Berkley, the US (re)insurer, said that net income for the 2008 full year fell by 63% to $281m, down from $766m in 2007. Net operating income for 2008 was $513m, or $734m, for 2007.
KPMG appoints new insurance partner
KPMG has appointed Stuart Shepley as partner in the Insurance Risk and Actuarial Services group where he will have particular responsibility for growing and developing KPMG's non-life insurance risk and actuarial practice across Europe.
Brit Insurance declines to comment on Chaucer bid rumours
Brit Insurance has declined to comment on press speculations that it is the latest Lloyds (re)insurer to bid for London Market rival Chaucer.
Korea's Samsung Fire & Marine Q3 net profit jumps
(Bestwire) South Korea's Samsung Fire & Marine Insurance Co. Ltd reported a 31.5% rise in net profit to 434bn won (US$316.7m) in the first three quarters of its 2008 fiscal year.
New body to combat knee-jerk regulation
Fears that recent crises in the global financial system could be met by inefficient, knee-jerk regulatory initiatives have prompted the International Underwriting Association to launch a new representation service for members.
Liberty grabs AIG senior casualty manager
Liberty International Underwriters Europe (LIU Europe), a division of Liberty Mutual Group, has said that Christopher Holborn has been appointed casualty manager for its Continental European business, covering LIU Europe's Continental European offices.
RSA establishes prestige vehicle accident repair network
RSA has extended its UK repair network to provide prestige vehicle accident repair services for customers with high value cars.
Giles comes third in buyout league table
Giles Insurance Brokers has been ranked third in the Sunday Times Buyout Track 100 league table.
Mitchell and Partners add to team as growth continues
Specialist financial services executive head-hunters Mitchell and Partners have added to their capabilities with two key appointments.
Chaucer has received "a number of approaches"
Chaucer has said that it has received a "number of approaches" since it announced a £75m capital raising at the end of January.