News
Windstorm Klaus may cost euros 1.5bn - Perils
Windstorm Klaus may cost insurers €1.5bn, insurance data provider Perils has said.
Validus urges IPC shareholders to flash 'golden ticket'
(BESTWIRE) Validus Holdings Ltd. is urging the shareholders of IPC Holdings Ltd. to vote with a gold proxy card, and reject Max Capital Group Ltd.'s proposed merger offer.
Brit latest UK insurer to benefit from favourable exchange rate
Brit Insurance this morning reported its gross written premium was up 40.5% to £557.4m for the three months ended 31 March 2009 (31 March 2008: £396.7m), an 18.5% increase at constant exchange rates. It also saw a 4.6% average premium rate increase on…
Swine flu scare at the FSA
An entire department of the Financial Services Authority has been asked to work from home after a colleague returned from the US with probable swine flu.
AIG sells Japanese building to Nippon Life
AIG has confirmed that it is to sell its Japanese headquarters to Japanese life insurance giant Nippon Life for $1.2bn.
Swine flu scare at the FSA
An entire department of the Financial Services Authority has been asked to work from home after a colleague returned from the US with probable swine flu.
Former Alliance boss launches new broker
The founder of Alliance Corporate Risk Management John McLaren-Stewart is to launch a new broker.
Loss Management Group completes jewellery claims acquisitions
Loss Management Group has acquired Guild Claims Service and The Guild of Valuers and Jewellers from accident management company Helphire Group.
Post Office announces new five year home and motor insurance partnership
Junction has entered into a new exclusive five-year contract with Post Office Financial Services to provide home and motor insurance.
Canopius FY pretax profits jumps 31%
Canopius, the Lloyd's (re)insurer, reported a 31% rise in pretax profits for the year to end-December 2008. Pretax profits grew to £43m from £33m in 2007.
Amlin swoops for Zurich property owners head and team
Amlin has expanded its UK property team with the arrival of a team of five underwriters from Zurich. Team leader David Hancock joins as leading class underwriter, property and package and reports into Amlin UK underwriting director, Brian Carpenter.
Amlin raids Aon for new risk chief
Amlin has appointed Alex Hindson as head of group risk reporting to group chief risk officer James Illingworth.
Axa's Paul Meehan raids Aviva for senior team member
Axa has appointed Darren Cornish to the role of head of claims experience.
Helphire disposes of business
Helphire has disposed of the business and assets of its wholly owned subsidiary company E-Register to Loss Management Group Limited ("LMG") for total cash consideration of £0.3m to be paid over a period of 12 months following completion. E-Register owns…
Ironshore brings in senior claims exec
Ironshore, the Bermudian (re)insurer, has said that it has appointed John Reusch as its senior vice president of property and casualty claims.
Hiscox sees rates rises in excess of 50%
Hiscox this morning reported premium income was up 51% to £486.5 million (2008: £321.3 million) for the first three months of 2009. At constant exchange rates year on year growth was 25%.
Berkshire Hathway stumbles to $1.53bn loss
Berkshire Hathaway stumbled to a $1.53bn loss in the first quarter of the year – a huge swing from the $940m it made in the first quarter of 2008.
Obama health insurance plan takes major step forward - reports
Barack Obama's plans for a US health insurance system for every American citizen took a major step forward today when health care industry leaders offered $2trn in spending reductions over the next decade to pay for a system, according to reports from…
LifeSearch launches new consumer website
LifeSearch has launched GetLifeRight.co.uk, a website designed to help customers buy protection products quickly and with advice.
Sesame Live events to outline opportunities for advisers
Sesame is embarking on a series of nationwide events to equip advisers with a toolkit of ideas to help them and their clients through the recession.
Reinsurance sets up linked-in group
Reinsurance magazine has set up a linked-in group to help those in the industry keep in touch with others in the sector and to share ideas and concerns. Check it out now
Loss adjuster MBO completed
Resources in Insurance Group, the AIM listed insurance claims facility provider, has completed the sale of its loss adjusting division, CPA.
DAS in City expansion and move
DAS Legal Expenses Insurance has announced the expansion and relocation of its London office to accommodate a dedicated City underwriting team.
RBSI hit by Tesco Personal Finance disposal as profit falls 31%
RBS Insurance has reported that it saw a 31% decline in operating profit in the first quarter of 2009 to £101m (2008: £147m) on premiums of £1.36bn (down 2% from £1.4bn in 2008). General insurance revenue was £8.1bn (2008: £8.2bn).