News
Montpelier Re to open in Switzerland
Montpelier Re has announced that it is forming Montpelier Europa AG, a Swiss company based in Zug, Switzerland, which it expects to start business on September 1st, 2007.
Fitch: Floods to have limited rating impact on insurers
Fitch Ratings said today that the total cost to insurers of recent flooding in the UK could exceed £3bn. However, Fitch expects the flooding to have a limited rating impact on UK insurers.
ABI warns government over housing plans
New housing developments must be built away from flood - prone areas to ensure that flood insurance continues to remain widely available and competitively priced, the Association of British Insurers has warned.
JLT claims Bermudian market leadership with buy
Jardine Lloyd Thompson (JLT) says it expects to place over $400 million of premium in the Bermudan market each year after completing the acquisition of insurer Park Ltd.
Apil in damages warning
Reform of the law of damages must not be a compromise between the needs of seriously injured people and those who have caused them harm, lawyers have warned.
PWS boasts about online first
PWS claims it has launched the industry’s first Internet-based facility to offer insurance brokers real-time insurance quotations on-line for JCT Clause 21.2.1 and similar construction industry-related insurance.
Marsh hires four in mid-market drive
Marsh has unveiled a quartet of senior sales appointments aimed at increasing its presence in the mid-market sector within the City of London.
Junction appoints three
Junction has strengthened its business development, delivery and marketing and teams with the appointment of Martin Overton, Mike Edgeley and Catherine Hill.
Allianz gets ratings boost
Allianz Insurance and Allianz SE have had their ratings raised by Standard and Poor’s after a series of strong financial results in recent years.
Ariel-Atrium deal sparks negative watches from Best
After Ariel Re and Atrium announced an agreed bid for the Lloyd’s (re)insurer, ratings agency AM Best has put ratings of both parties under review with negative implications.
Smart & Cook acquires Yorkits' BA Insurance Group
Smart & Cook has acquired the BA Insurance Group based in Yorkits, its 53rd acquisition to date.
Capita CMGL forms Syndicate 5500
CMGL Syndicate Management, a Capita Group subsidiary company, announced that it has formed a new Lloyd’s syndicate, Syndicate 5500, backed by CarVal Investors.
Endurance CEO joins Unitas
Mark Boucher, ex-CEO of Endurance Worldwide Insurance has joined Unitas as the chairman of the recently announced underwriting agency.
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
R3 Group completes Forces Travel acquisition
The R3 Group has completed the acquisition of the Forces Travel business and plans are underway to integrate the company with Forces Financial, R3’s specialist UK Police and Armed Forces insurance and financial services division.
Mobile Doctors Group joins AIM
Medico-legal reports provider Mobile Doctors has today joined the Alternative Investment Market.
Co-operative Financial Services to cut 1000 jobs by end of year
Co-operative Financial Services has today announced that job lossess will be “inevitable” as part of its plans to improve its operational business performance for the "benefit of its 6 million customers".
Dandridge bows out of Atrium-Ariel combo
Following the announcement of its agreed takeover by Ariel Re Christine Dandridge, active underwriter of Lloyd's Syndicate 609 and an executive director of Atrium Underwriting has informed the board of Atrium of her intention to step down from her active…
Sayers: cashflow implications of reinsurance deal
The testimony of Andrew John Sayers continued on Thursday afternoon with prosecutor Andrew Baillie QC asking the partner at audit firm KPMG what would be the impact on the cashflow of the reinsurance deal signed by Independent Insurance, writes Olivier C…
Miller scrutinises insurance buying habits
Miller Insurance Services has revealed the findings of its research into the insurance buying habits of UK and US risk managers.
LV promotes manager to head up affinity relations business
LV has appointed Michele Alcock as head of affinity relations within its partnership business.
Government launches new anti-drink drive campaign
Transport Secretary Ruth Kelly launched today a new £3M anti-drink drive campaign.
Insurance call centre bans mobiles to protect customer data
OutRight has today implemented a ban on non-essential mobile phones and other electronic storage devices - such as USB drives and iPods - in its call centre to further secure its customer information.