News
Indie was Europe's best
Michael Bright today claimed that his company, the “finest insurance company in Europe” was being eaten from inside by a “black cancer”, writes Stephanie Denton .
Health scare for Bright
The cross examination of Independent Insurance founder Michael Bright was forced to stop twice today after Michael Bright complained of feeling unwell, writes Stephanie Denton .
Whiteboard abuse was going on
Michael Bright today admitted in court that there was abuse of the whiteboard system going on at Independent Insurance, writes Stephanie Denton .
Groupama buys majority share in Lark
Groupama UK has confirmed that it has completed the purchase of a majority shareholding in Lark Group Limited for an undisclosed sum. The change of ownership has received formal regulatory approval from the FSA.
Reinsurance market maintains stable outlook
Fitch Ratings has maintained a stable rating outlook on the global reinsurance sector, which faces several key challenges, in particular that of increasingly difficult market conditions and balancing demands for returns on capital with financial…
QBE's rating affirmed at A+
Fitch Ratings has reviewed and affirmed the Insurer financial strength ratings of QBE Insurance Group and its main operating subsidiaries.
Bradley appointed non-exec at London and European
London & European has appointed Diarmuid Bradley as a non-executive director to its main board.
Indie Trial: Bright admits knowing of hidden reserve increases
A chink appeared in Michael Bright's armour yesterday as he twice admitted that he was aware of a list of reserve increases withheld from the system under intense questioning from prosecution counsel Andrew Ballie today, writes Martin Friel .
Condon and Lomas point the finger
Phillip Condon’s defence counsel, Gareth Rees QC, attempted to show that crucial letters to Watson Wyatt, apparently written by his client, were in fact written by Michael Bright. Martin Friel reports.
Bright admits knowledge of hidden reserve increases
Michael Bright twice admitted that he was aware of a list of reserve increases withheld from the system under intense questioning from prosecution counsel Andrew Ballie today, writes Martin Friel .
UK debt default second highest in Europe says Atradius
The latest Payment Practices Barometer from trade credit insurer Atradius shows that payment practices in many European industries deteriorated between summer 2006 and winter 2006/2007 with the UK one of the highest scorers in payment default across…
Miller appoints new associate director
Miller Insurance Services has appointed Victoria Barrett as a broker and associate director of its professional risks business unit.
Oxygen acquires Lloyd's broker
Oxygen has acquired Lloyd’s broker Robertson Taylor Insurance Brokers.
Rias announces National Trust partnership
Rias, the over 50s insurer, has announced a one-year partnership with the National Trust. The partnership will see the creation of a Rias/National Trust Walking Campaign which encourages the over 50s to explore the hundreds of walks and attractions which…
Lloyd's charities donates £50k to Business and Peace Fund
The Lloyd’s Corporation's grant-making body has become the first founding supporter of a new fund established to aid peace building by promoting best business practice in conflict prone areas.
Paris Re 1H hit by costs, write-offs and Cats
Global reinsurer Paris Re (comprising the former business of Axa Re) has unveiled first half 2007 net income of $80m, down 38% on a year earlier, despite higher investment returns. The firm blamed catastrophe losses and amortisation costs relating to the…
RAA half-year combined ratio plunges to 90%
Reinsurance Association of America (RAA) results showed its membership produced a collective combined ratio of 90.0%, compared to a 96.5% in the first half of 2006.
BDML launches gadget insuance
BDML Insurance Solution has launched a new insurance policy, Gadgetsafe, to provide cover for electronic gadgets.
ABI hopes to iron out discrimination law on Civil Partnerships
The Association of British Insurers is proposing the abolition of an exemption for insurers in existing regulations on sexual orientation. Insurance companies see no need and do not wish to differentiate for insurance purposes between customers in Civil…
Ariel-Atrium deal goes unconditional
Class of 2005 Bermudian start-up reinsurer Ariel Re has succeeded in its bid for Lloyd’s (re)insurer Atrium Underwriting, declaring the £193m, ($380m) 365p a share, offer unconditional in all respects.
Amlin profits up 54% as Bermuda contribution doubles
Lloyd’s insurer Amlin this morning reported a 54% increase in profit before tax to £185m.
Two more acclaimed for contact centre service skills
Sandra McInally of Virgin Travel and Lance Murdoch of Rias are the two latest winners of the Direct ...
Winners and Losers: Post's monthly round-up of job cuts and gains
Winners - Emergency insurance provider Homeserve is set to recruit 500 workers at its new Prest...
Insurance industry can reap rewards of raw talent
If the UK insurance industry is to employ and develop new raw talent, it should not just focus on ac...