News
London PI market stagnates on price
The professional indemnity market in London is bucking trends with either no change or minimal rate increases, according to the latest Willis Index for accountants and auditors in the first quarter of 2006.
Assurant Solutions in MPP push
Assurant Solutions today unveiled a mortgage payment protection product called The Matrix. It will enable lenders and brokers to help consumers exposed to the risk of rising repossessions and increasing levels of debt by creating tailored cover that for…
Brit positive after renewals and GWP up in first quarter
Brit Insurance this morning said gross premiums written to the end of March 2006 totalled 373.9m pounds compared with 366.1 pounds for the previous year. The announcement came ahead of its Annual General Meeting, to be held later today.
NU parent expands in China
Aviva, the world’s sixth largest insurer, has received regulatory approval for its joint-venture company, Aviva-COFCO, to open a branch office in the city of Jinan, the capital of Shandong province on China's east coast.
CEA reorganises management structure
Following a meeting of its Presidential Council, CEA, the representative organisation for Europe’s insurers, has today announced details of a new management structure.
Lloyds TSB wins vacant Argos insurance contract
Lloyds TSB Insurance has won the tender to supply home and motor insurance to the customers of Argos following a competitive tender. The move is part of an expansion by Lloyds TSB Insurance into the corporate partnerships market to offer its products and…
Lloyd's appoints Faragher to China post
Lloyd's has appointed Ian Faragher as chief operating officer of its new Chinese onshore reinsurance operation in Shanghai, Lloyd's Reinsurance Company (China) Ltd.
New corporate finance broker at HSBC
HSBC Insurance Brokers has hired Alexander Pohl to its corporate finance division as project manager.
European states sent to court for failing to implement IMD
The European Commission has announced it is referring France, Germany, Greece, Spain, Portugal and Malta to the European Court of Justice for failing to implement the Insurance Mediation Directive.
Axa Re has positive 2005 despite €572m cat losses
French reinsurer Axa Re Group has recorded consolidated net income of €44m despite a record number of major losses cost it €572m and pushed the combined ratio to 114.8% from 100.9% a year earlier.
Hiscox in £10m marketing push
Hiscox has today unveiled the details of its £10m marketing campaign, including a viewing of its first television advertisement.
IGI launches commercial let buildings cover
Insurer IGI has announced it is launching a Commercial Let Buildings product to brokers on 1 May.
Sigma opens Midlands office
Sigma Claims Solutions has opened its Midlands office in Stafford.
Insurance group creates 150 jobs with new arm
The Co-op is to launch a range of legal services through the formation of a new co-operative business venture, headed by a former RAC boss.
Equity appoints head of sales and marketing
Equity Insurance Group has today announced the appointment of David Grant as head of sales and marketing at Equity Red Star.
Benfield in Merrill Lynch cat bond link-up
Benfield has announced that it has formed a relationship with Merrill Lynch to offer insurers and reinsurers catastrophe (cat) bonds. the benefits of such non-correlated assets."
Insurer responds to demand for contagion cover
Markel International’s Canadian subsidiary, Mint Canadian Specialty Underwriters, has announced the launch of a new product. Outbreak Contingency Cover, has been specifically designed by the Canadian niche insurer, to protect small Canadian business from…
AIG plans sale of its 24% stake in IPC
Bermudian reinsurer IPC has announced that AIG has notified it of its intention to to sell up to 15.397 million of the IPC common shares it owns in a public offering, subject to market conditions.
Sirius pre-tax profits fall in 2005
Broking software house Sirius Financial Solutions saw its pre-tax profits fall to £340 229 in 2005 (2004: £385 444).
Healthsure expands intermediary team
HealthSure, the Healthcare cash plan provider, has expanded its intermediary support team to meet increased demand from brokers and grow business through the market.
UK’s key insurance role may be under threat
UK’s position at the heart of the world insurance market may be under threat from a combination of regulation and technology, according to accountants Moore Stephens.
A giant leap
Communication
Motor insurer rolls out new rehab pilot
Motor specialist Link is extending its rehabilitation pilot across sister company Zenith's book, fol...
Appointment at Ace
Ace has made two appointments at its London branch. Stephen French has become chief underwriting off...