News
Whittington Group to sell US insurer in run-off
Whittington Group has signed a conditional agreement to sell Americas Insurance Company in run-off to ISG Acquisition for an undisclosed sum.
QBE makes one last bid for IAG
QBE has approached IAG with an increased final proposal, but does not expect it to be accepted.
Capita upgrades reinsurance technology system
Capita Insurance Services has implemented the latest version of Total Objects reinsurance management system Global XL Pro.
Towergate profit tops £150m for 2007
Towergate has announced its earnings before interest tax and depreciation across all its companies including Open GI, Paymentshield and the Towergate Partnership (which includes The Broker Network) were £166m last year.
Cunningham Lindsey launches new business
Cunningham Lindsey has launched Oriel a new business that aims to deliver assured repairs for the insurance market and property owners.
Munich and Aon Re place $300m Japan quake bond for Zenkyoren
Aon Capital Markets has placed a 3-year $300m catastrophe bond for Munich Re for the ultimate benefit of Japanese mutual Zenkyoren.
Crash signs up Belfast broker
Crash Services has secured an agreement to provide claims management to Belfast –based broker Dawson Whyte.
Brent loses LAM High Court battle
Brent council has lost the second part of its battle against Risk Management Partners to channel insurance through a mutual set up for London councils.
No widespread downgrades of US life/P&C insurers - Moody's
Moody's has said that there won’t be a widespread downgrades of US life and property & casualty insurers despite various companies reporting “meaningful” increases in both realized and unrealized losses in their fixed income investments in the first…
Guy Carpenter to develop new global client development unit
Guy Carpenter, the reinsurance broking arm of Marsh and McLennan, has appointed David Priebe to head up its global client development group, which will build new business, manage client relationships and develop viable client-centred solutions.
Most believe they can get away with insurance fraud
More than half of Britons (56%) think it’s unlikely people who commit insurance fraud will get caught, according to a survey.
Colemont appoints new MD
Colemont Insurance Brokers has appointed Jonathon Proctor as managing director of its property, casualty and treaty division.
The Broker Network adds 23 with 20 in the wings
The Broker Network has announced that 23 independent insurance brokers have now completed their application procedures and will be joining TBN as associate members with effect from 1 June 2008.
Novae sees rates fall 6% in first quarter
Lloyd's insurer Novae this morning reported gross written premium during the first quarter: had fallen slightly to £88.5m (Q1 2007: £89.1m)
Buffett pulls out of RBSI auction
Berkshire Hathaway has pulled out of the bidding for the Royal Bank of Scotland Insurance business.
PB Week: Football, holiday and an earthquake
The climax to the Premiership proved a nail-biting affair for many. As an Everton fan (who comes from Twickenham - you don't choose them, they choose you), I managed to attend the Newcastle game at an extremely warm Goodison Park, writes Andrew…
New broker Renew to use CDL platform
New broker Renew Insurance Services has selected CDL software as its broking platform.
Ace Europe upgrades pension trustee cover
Ace Europe and the Occupational Pensions Defence Union havelaunched a new pension trustee liability product ‘Ace PTL Elite’ - which includes access to a range of specialist support services provided by the OPDU.
Arig's first quarter net profit halves
Arig, the Middle Eastern (re)insurer, has said that first quarter net profit more than halved, dropping to $3m from $7.6m in the first quarter of 2007.
Ropner appoints new chairman
Ropner Insurance Services has appointed Frank Hindle as its new chairman.
Swinton snaps up more outlets
Swinton has acquired fifteen Moneyway insurance outlets as part of a multi-million pound deal.
Lee Gladwell to leave the CII
The Chartered Insurance Institute's director of general insurance markets Lee Gladwell is leaving the post on 18 July.
AIG board 'disappointed' by recent performance
(BestWire) The board and management of American International Group expressed disappointment at the company’s recent financial performance but tried hard to allay fears that the giant insurer was in a crisis.
Run off specialist reports 68% hike in profit
Non life insurance run-off specialist, Randall and Quilter, has reported a 68% rise in group operating profit to £8.7m in 2007.