News
Novae launches new D&O cover to coincide with changes in law
Novae has launched a new directors’ and officers’ liability policy to coincide with changes in the law relating to deaths in the workplace.
Novae Insurance appoints motor underwriter
Novae Insurance Company has appointed Andy Chesters as unit head of its new motor fleet division.
Airmic launches benchmarking survey
The Association of Insurance and Risk Managers and Advisen, a provider of benchmarking services, have launched a new initiative to provide programme benchmarking to buyers of insurance in the UK.
Aon’s Bill Gloyn to chair City Property Association
Aon's chairman of real estate Europe in Aon’s mergers and acquisitions Group, Bill Gloyn, has become the first insurance professional to be elected as president of the City Property Association.
Market volatility hammers Ace's Q1 net income
Ace, the Bermudian (re)insurer, reported a 46% drop in net income due to credit market volatility.
Arc Legal Assistance extends tenant scheme
Arc Legal Assistance has extended its contract to provide professional fees cover to Mydeposits, formally known as Tenancy Deposit Solutions, following the success of the scheme set up as a result of government legislation to protect tenants in dispute…
Tornadoes hit Virginia, US
According to catastrophe risk modeling firm AIR Worldwide, three tornadoes carved a 25-mile track of destruction through southeastern Virginia yesterday, gutting homes, tossing cars, and injuring more than 200 local residents.
RenRe Q1 net income drops 28%
RenaissanceRe, the Bermudian (re)insurer, reported that net income fell 28% to $137.2m in the first quarter of 2008, down from $190.8m in the same quarter of 2007.
JLT Q1 investment income hit by US rates
Jardine Lloyd Thompson has admitted US interest rates will have a negative impact on its investment portfolio in 2008.
Montpelier Re Q1 net income plunges
Montpelier Re, the Bermudian (re)insurer, reported that first quarter net income plunged to just £0.3m from £73.3m in the first three months of 2007 after losses from key commercial properties came through.
Lancashire approves repurchase programme
Lancashire Holdings has approved a share repurchase programme after announcing its results for the three month period ending 31 March 2008.
Gen Re makes Cholnoky president
General Re Corporation, a subsidiary of financial services giant Berkshire Hathaway, has appointed John Cholnoky has been promoted to President of General Reinsurance Corporation and Manager of Gen Re’s global direct Property and Casualty operations. Mr…
Worst Q1 US Cat losses in a decade - PCS
U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.35bn for first-quarter property losses resulting from nine catastrophes, according to US industry body PCS.
A Plan MBO backed by major bank
A Plan Insurance, the high street broker, has chosen Barclays Private Equity to be its partner in a management buy out that sees 32% of the equity pass to the A Plan management team.
Aon wins worldwide Unilever contract
Aon Corporation has won the contract to service Unilever’s business lines worldwide.
Aon wins Unilever contract
Aon Corporation has won a contract to to serve the needs of Unilever's business lines worldwide.
Brokers set for come back, says Defaqto
Despite much being written about their demise over the past decade personal lines brokers are set for a come back thanks to aggregators, according to Defaqto.
Admiral CEO sees little movement on price in Q1
Henry Engelhardt, Admiral chief executive, has warned of little movement on price in the first quarter of 2008.
Aviva to sponsor Norwich City FC after dropping Norwich Union name
Aviva is sponsoring Norwich City FC after announcing it is changing Norwich Union’s name.
Aviva confirms NU name to be dropped in global rebrand
Aviva has confirmed its plan to move to a worldwide brand, with the replacement of the Norwich Union, Commercial Union Poland and Hibernian brands.
Aon puts in place new UK regional heads
Aon has promoted Jane Kielty and Lisa Bartlett to the roles of branch director in Manchester and Birmingham, respectively.
System helps police trace £0.5m worth of stolen cars
ALD Automotive’s in-car telematics system has helped police recover £500 000 worth of stolen cars.
Partner writes more to earn less in 1Q 2008
Partner Re increased net written premiums in the first quarter of 2008 compared to the same period a year earlier due to the weak US dollar and the impact of last year’s acquisition of the international renewal rights of Mutuelle Central de Reassurrance …
Lord Levene continues to stress US platform goal
Lloyd’s chairman Lord Peter Levene has stressed that building Lloyd’s platform in the United States is one of the most important goals of the organisation at the Risk and Insurance Management Society’s annual conference in San Diego.