News
Lloyd's broker in regional buy
Lloyd's broker RFIB Group has expanded its presence in the UK market with the acquisition of the business of Bridle Insurance Brokers, based near Southampton.
Max Re rings up $17.3m Q2 profit
Max Re Capital has reported net income for the three months ended June 30, 2006 of $17.3m, compared to net income of $23.3m for the three months ended June 30, 2005.
HSBC backed broking start up to create 400 jobs
A new insurance start up has opened for business with a plan to create 400 jobs and hit gross written premium of £100m within five years.
Whittington appoints new head of Asia operations
Whittington Group has appointed Simon Birch as chief operating officer to head its Asia Pacific expansion from its Singapore headquarters.
New electronic messaging system for G6 launched
A new managed messaging service for commercial insurers and brokers has been launched, targeted at organisations who wish to trade with each other electronically using ACORD message standards.
Guy Carp relaunches political risk practice after Benfield raid
Guy Carpenter has made a number of appointments in a restructuring of its London-based political risk and trade credit practice.
Arc Legal Expenses ties up mortgage lender deal
Arc Legal Assistance has announced that buy to let specialist Paragon Mortgages, has become the first lender to offer its residential landlords legal costs and rent guarantee insurance with every mortgage offer.
Florida mulls reinsurance pool
Florida Governor Jeb Bush is considering a state-run reinsurance pool or joint underwriting pool to help businesses that can't get policies from private insurers, saying that if companies can't get coverage, it could lead to an economic downturn.
PBS doubles its size
Primary Broker Services and PBS Holdings have doubled their office space in Birmingham.
Allianz dismay at Flora judgement
After the Court of Appeal's refusal to allow Allianz Cornhill’s application in Flora v Wakom, the insurer has released the following statement. The company was hoping to strike out that part of Mr Flora's claim which sought to link any Periodic Payments…
Periodical payment appeal defeated: Insurer seeks Lords review
The Court of Appeal this morning dismissed the defendants’ appeal in the case of Singh Flora v Wakom (Heathrow) Ltd, that periodical payments for future loss of earnings and future care costs should be indexed by reference to the Average Earnings Index…
Deloitte welcomes launch of IFB
Deloitte have welcomed the launch of the Insurance Fraud Bureau, which has been officially launched this week.
Norwich Union and eBay launch online insurance hub
Norwich Union and eBay.co.uk have launched an online insurance centre for customers.
FSA to end audit requirements for small firms
The Financial Services Authority has announced that it will remove audit requirements from regulated small firms and appointed representatives.
Broker Clear acquires Kempster Lobo
Clear Insurance Management has completed its 5th broker acquisition - City based Kempster Lobo (Insurance Brokers).
Montpelier Re publishes Q2 figures
Montpelier Re Holdings has reported comprehensive income for the quarter ended June 30, 2006 of $63.2m, compared with $110.6m for the same quarter last year.
NIG makes distribution appointments
NIG has appointed Martin Kelsh and Tim Griffiths as strategic account managers.
IGI in legal expenses push
Specialist UK general insurer, IGI Group has secured an £5 million legal fee funding facility aimed at personal injury solicitors to drive its after-the-event legal expenses business.
Global insurer in UK regional push with former Cornhill broker boss
Endurance has appointed Mark Hadfield to the role of business development manager in its UK property business to focus on running the broker interface and developing the company’s regional portfolio.
Marsh shares rise on bid speculation
Shares of broker Marsh & McLennan have risen more than 5% amid speculation that all or part of the company might be a takeover target.
Aspen posts $101m Q2 profit
Aspen Insurance Holdings has reported a net profit of $101.8m for the three months ended June 30, 2006.
XL Capital posts Q2 profit
XL Capital has reported net income available to ordinary shareholders for the quarter ended June 30, 2006 of $377.1m, compared with net income of $135.9m, for the quarter ended June 30, 2005. Net income excluding net realized gains and losses for the…
JLT takeover talk scotched by analyst
Broker JLT has been tipped to report less than encouraging first half results next week, with prospect of it being taken over hampered by its pension deficit. The company recently held merger talks with rival Heath Lambert which came to nothing.
Aeolus blows into Bermuda
A new reinsurance company is springing up on Bermuda, with the launch of Aeolus Re.