News
Court of Appeal upholds legality of basis clauses
The court of appeal has confirmed the legality of basis of contract clauses in a case involving Liberty Syndicate.
SPB to unveil Portsmouth office
Affinity insurance provider SPB UK will open a new head office at Enterprise House in Portsmouth this November.
Cunningham Lindsey grows pre-tax profits 40% in 2012
Loss adjuster Cunningham Lindsey has reported steeply rising pre-tax profit for the year ending December 31 2012, hitting a total of £13.6m for the twelve months.
Hastings receives Goldman Sachs investment
Goldman Sachs Merchant Banking Division will acquire 50% of the voting share in Hastings, in a move that implies a net enterprise value of approximately £700m.
Dual launches asset underwriting division
Dual, the underwriting arm of Hyperion Insurance Group, has launched an asset protection division under the name Dual Asset Underwriting.
IUA Group to oversee London Market Claims Committee
The International Underwriting Association is to oversee a new London Market Claims Committee which has been set up with the aim of establishing best practice guidelines for the energy claims market.
Equity sells direct broking division to NMG Holdings
Equity Insurance Group has sold specialist motor and home broker Equity Direct Broking to NMG Holdings as part of its strategy for the business to return to underwriting.
Sajid Javid to keep ‘insurance minister’ role
Former Economic Secretary to the Treasury Sajid Javid will maintain his financial services portfolio in his new role as Financial Secretary, Post understands.
DOA and Healix team up on travel product
David Oliver Associates has developed a white-label facility for brokers and networks to sell travel insurance.
SRA receives 185 requests to enter EIP
A total of 185 law firms have applied to the Solicitors Regulation Authority to enter the extended indemnity period for solicitor’s professional indemnity insurance having failed to secure cover by 1 October.
Expertise Live: Going green
The latest Expertise Live event, held in association with Zurich, focused on real estate, energy and sustainability.
German nat cat loss estimates released
Germany continued to fuel catastrophe losses for insurers and reinsurers in the third quarter, with several underwriters issuing estimates from hailstorms in the region.
Sovereign Capital acquires Kindertons
Private equity firm Sovereign Capital has acquired Crewe-based accident management services provider Kindertons for an undisclosed sum.
DLG to sell closed UK life book to Chesnara
Direct Line Insurance Group has agreed to sell its closed UK life insurance book to Chesnara and will collect a £23m dividend from the business.
Thailand's catastrophe fund 'returns rates to normal'
Payungsak Chartsutipol, chairman of the board of the National Catastrophe Fund, has claimed that Thai insurance rates have returned to a normal level thanks to the fund.
Premiums rising for shipowners, according to Tysers
Declining investment income is expected to trigger an average premium rise of 7.5% for shipowners, according to Tysers’ annual report on protection and indemnity clubs.
Indian Prime Minister warns over natural disaster threat
The Prime Minister of India Manmohan Singh has warned India needs to take greater preventative measures towards the onset of natural disasters.
Tysers report points to premium rises for hard-up shipowners
Declining investment income is expected to trigger an average premium rise of 7.5% for shipowners, according to Tysers’ annual report on protection and indemnity clubs.
LMA backed by London market members
The Lloyd’s Market Association has received a vote of confidence from London underwriters, chief executives and other market members.
Ace launches environmental risk taskforce for Continental Europe
Ace Europe has appointed Nicolas Givelet as risk engineer in its Continental Europe environmental insurance team as it continues to invest in building its environmental risk expertise.
Richard Benyon leaves Defra
The current parliamentary under-secretary of state for natural environment, water and rural affairs Richard Benyon MP has announced he is leaving his post at the Department for Environment, Food and Rural Affairs to move to the back benches.
UK GI business volumes up Q3 says PWC
General insurers saw business volumes and profitability rise in the past three months and expect strong growth in business volumes during the next quarter, according to the latest CBI/PWC Financial Services Survey.
E-Underwriting launches niche property owners product
E-trading specialists E-Underwriting has unveiled a property owners product, enhancing Power Place’s panel with a niche product.
Lloyd's left in the shade by company market in reputation report
Catlin has been nominated the best known underwriting business and Zurich the fastest improving business, following a Gracechurch Consulting poll of more than 450 London market brokers.