News
Oval hires ex-Marsh boss
Oval has stepped up its bid to increase its market share of corporate and property business with ano...
Appointment at HBOS
HBOS has appointed David Rochester as its new head of pricing. Mr Rochester was previously senior ma...
What the papers said this week
Financial Times The concept of US-style class actions could be imported to Europe, under plans to s...
Claims People management shake-up
Claims People has initiated a major management reshuffle, following a £500,000 share placing and inv...
This is the week that was
Anthony Gould, editor in chief of Post provides a quick run down of some of the major news stories in tomorrow's issue of Post Magazine. Watch now for news on the CII conference; the latest Hiscox shake-up; Guy Carpenter 's internal investigation; Lloyd…
Allianz Cornhill to underwrite CBG's small business book
CBG Insurance Brokers, the Manchester based consolidator has appointed Allianz Cornhill Commercial as sole carrier for CBG’s book of small business.
S&P: General insurance conditions to remain positive
The general insurance market in the UK is benefiting from stable economic growth, low inflation, very strong insurance supervision, and much improved enterprise risk management, according to a report published today.
Caribbean Cat fund launched
The World Bank has launched a catastrophe fund to provide emergency insurance cover to 18 Caribbean countries following an earthquake or hurricane.
Capita unveils new intermediary aggregator offering
Capita has today launched a new aggregated general insurance service for intermediaries by linking the services of two subsidiary companies, Webline, its adviser portal, and BDML, the broker.
Smart & Cook boss outlines acquisition plans
Smart & Cook has announced its 52nd acquisition to date with the purchase of Slater Marchant in the Yorkshire Dales, with five more in the pipeline.
Lancashire acclaims first full year of trading a major success
Bermuda-based (re)insurance group Lancashire has reported a profit after tax of $159.3m on gross written premiums of $626.0m in 2006. It said its loss ratio was 16.1% and combined ratio 44.3%.
Beazley profits soar
Lloyd's insurer Beazley has reported a profit before tax of £86.8m (2005: £16.1m) for the year ended 31 December 2006.
FSA – Simplifies T&C rules for retail business
The Financial Services Authority (FSA) last week set out proposals for a shorter and more outcome-focused Training and Competence (T&C) Sourcebook that will apply only to retail firms and business.
SOCA addresses Parliamentary Group
The economic impact of fraud, including insurance fraud, has been estimated at £13bn a year. The claim by Sir Stephen Lander, chair of the Serious Organised Crime Agency, was made at a meeting of the All Party Parliamentary Group on Insurance and…
White Mountains appoints new chief
White Mountains Re has announced Allan Waters will replace Tom Hutton as the company's CEO.
Biba warns over Derbyshire broker
The British Insurance Brokers' Association has issued a warning to customers of broker David Brown Insurance Services to check their cover.
Broker recruits ahead of motor push
Specialist over-50s insurance company Castle Cover has announced the appointment of Helen Ricketts as head of motor.
Hannover Re claims first with $200m Cat bond to protect its retention
Global reinsurer Hannover re has claimed a world first by placing a Cat bond to protect its retention under its existing K5 bond programme.
Starr foundation report gives Greenberg clean bill of health
A report commissioned from retired judges by the Starr Foundation, the charitable organisation set up by the founder of AIG, Cornelius Vander (CV) Starr has given former AIG boss Maurice ‘Hank’ Greenberg a clean bill of health in response to…
FSA introduces crime reporting system
The Financial Services Authority (FSA) has set up a reporting system designed to reduce the level of financial crime in the insurance industry.
Brit targets £2bn, as profit soars 198.6%
Brit Insurance this morning reported profit before tax up 198.6% to £186.3m (2005: £62.4m) on gross written premiums of £1 236.3m (2005: £1202.5m).
Admiral sees intermediated business jump 41%
Insurance group Admiral Group today announced a record annual result with a profit of £147.3m for the year to December 2006, an increase of 23% over the previous year. Group turnover, comprising total premiums written, gross other income and investment…
Heath to shut Essex claims office in relocation move
Heath Lambert has announced that it is bringing its national claims handling team back to London.
Scottish Re rescue voted through at EGM
Troubled life reinsurer Scottish Re has announced that its shareholder have approved a set of proposals relating to the investment by MassMutual Capital Partners and an affiliate of Cerberus Capital Management at an extraordinary general meeting that was…