News
Highway exits Lloyd's
Highway has completed its exit from Lloyd's following closure of its former Lloyd's Syndicates. The ...
Brokerbility to reach £400m by end of 2007
Fast expanding Brokerbility Group may reach £400m in gross premium income by the end of the year. D...
Quinn Direct profits up 8%
Quinn-Direct Insurance has announced a pre-tax profit of £90m in the six-month period to the end of June 2007, an increase of eight per cent over the first half of 2006.
Post pick of the week
Jonathan Swift, editor of Post Magazine provides a run down of the major stories in the UK general insurance industry featured in tommorow's issue including: Sheffield firm commercial rate hike gives market optimism; Association of British Insurers slams…
Aon swoops for niche UK broker
Aon has acquire specialist vehicle insurance broker, Firebond. The terms of the transaction are not disclosed.
Former Forbes trio launches new broker
A new insurance broker specialising in Professional indemnity and commercial insurance has been launched in Bristol. Ntegrity Insurance Solutions aims to provide tailored insurance products alongside a dedicated claims service to businesses across the UK.
Oval's 20th buy increases Midlands presence
Oval has increased its presence in the Midlands with the purchase of Martin and Pethard and its associated company Premier.
Scor settles offer for Converium
French insurance company SCOR will gain formal control of Converium today (8 August) when it settles its offer for the Swiss company.
RSA to slash another 500 UK jobs
Royal & Sun Alliance Insurance has announced plans to cut 700 jobs, 500 of them in Britain, as part of its new plan to trim £70m in costs.
RSA sees UK commercial NWP drop as its reports first half profit of £51m
Royal and Sun Alliance this morning reported a UK underwriting profit of £51m on net written premiums of £1.4bn (a 7% increase) for the first half of 2007.
Q2 profits exceed $3bn for Berkshire Hathaway
Berkshire Hathaway has published strong results for the second quarter of 2007, with net earnings reaching $3.11bn, compared to $2.34bn in the same period last year.
Change at the top for Aon Re Global
Michael O’Halleran has been appointed executive chairman of Aon Re Global (ARG), and Ted Devine as chief executive of ARG.
Broker Network unveils new member
Broker Network today announced that Slade Edwards & Co has joined Broker Network, bringing the total number of firms recruited to the network to 169.
Noone appointed as L&G sales director
Legal & General has appointed Martin Noone to the position of sales director within the protection business. He takes on the responsibility for enhancing L&G's presence in the protection market through the IFA sector.
Bupa wins Virgin Media corporate healthcare contract
Bupa Health Insurance has been appointed to provide private healthcare to around 13,000 employees of entertainment and communications company Virgin Media for the next three years.
Swiss Re second quarter earnings rise 45%
Swiss Re today announced earnings of CHF1.2bn (£496m) in the second quarter of 2007, an increase of 45% over the same period last year. Annualised return on equity for the second quarter improved to 15.9%, compared to 13.3% in 2006. Earnings per share…
Loss of Post Office contract forces D&G to close call centre
Takeover target Domestic and General has announced that it plans to close its third party call centre in Slough.
Gable to resume trading on AIM within weeks
Gable has announced that it will publish its results no later than 22 August. The construction specialist has had its sahres suspended on AIM for over amonth now pending the results.
Direct Group in £40m MBO
Derek Coles has successfully led the management team of Direct Group, a provider of corporate and affinity services to the insurance sector, in acquiring the business in a £40 million deal with the backing of mid-market private equity firm LDC.
UK firms uninterested in environmental liability cover
Spain, Germany and Italy are leading the way in the implementation of the EU Environmental Liability Directive and are showing the most interest in purchasing environmental cover, broker Willis has said. This is in contrast to the UK, where insurers…
Towergate warns of insurer battle of nerves as sales hit £709m
Sales at Towergate Partnership increased 30.9% to £709m of gross written premium for the first half of the year. However, the broking group insurer said the impact of its new business had been "somewhat offset" by the continued soft market rates.
Munich Re announces $2.9bn profit
Munich Re has announced a profit of €2.1bn ($2.88bn) for the first half of 2007.
New rehab code sets out timetable for insurers
A revised version of the Rehabilitation Code launched today which set out a timetable for the key stages in implementing care.
CCV takes GWP to over £70m with Ajax buy
Cullum Capital Ventures has bought Liverpool based £3m premium income intermediay Ajax Insurance Brokers.