News
Equity launches Countrywide exclusive products
Equity Red Star is launching 11 Countrywide exclusive full cycle electronic data interchange products after recently joining the network’s strategic insurer panel.
Equity launch countrywide exclusive products
Equity Red Star is set to launch 11 Countrywide exclusive full cycle EDI products after recently joining the network’s strategic insurer panel.
Losses from Typhoon Fung-Wong unlikely to exceed $100m - AIR
Catastrophe risk modeling firm AIR Worldwide estimates insured losses in Taiwan from Typhoon Fung-Wong are unlikely to exceed $100m.
RenRe's Q2 net income off 24%
Renaissance Re, the Bermudian (re)insurer, said that second quarter net income dropped to $146.3m, down 24% from $193.7m a year earlier. First half net income dropped to $294m, down from $395.7 a year earlier.
Bupa joins Government initiative to improve patient information
Bupa is trialling a Government ‘kite mark' to help guide people on the quality of health information from health and social care providers.
Ace Q2 net income jumps 15%
Ace, the Switzerland-domiciled (re)insurer, said that second quarter net income jumped 15% to $746m from $649m a year earlier.
RSA settles with GM
RSA today announced that it had settled the litigation between General Motors Corporation and current and former members of the RSA Group.
Endurance Q2 net income drops 24%
Endurance, the Bermuda-based (re)insurer, said second quarter net income dropped to $103.3m, down from $135.3m this time a year ago, heavily impacted by adverse crop conditions in the first half of the year.
Broker Direct kicks off comparative online facility with D&O offering
Broker Direct has launched the first comparative commercial product onto its new online full cycle quote and buy system.
Lloyds TSB GI profits up £63m
Lloyds TSB this morning said that profit before tax from its general insurance operations increased by £63m, to £113m. The bank said this reflected a £57m reduction in claims due to the absence of the severe weather related claims experienced and the…
Aggregtor battle sees Confused's profits drop £4.1m on higher revenue
Motor insurer Admiral has indicated that the battle in the aggregator space is having an impact after revealing Confused's revenue was up at £36.6m for the first six months of 2008 (H1 2007: £34.3m), but that its profits had reduced to £15.6m from £19.7m.
Aviva UK GI business sees profit up as premiums fall in challenging market
For the six month period to 30 June 2008, Aviva has reported that its UK general insurance profits increased to £305m (2007: £269m), despite what it described as a continuation of the challenging market conditions seen throughout 2007.
Simplyhealth to combine trading divisions
Simplyhealth has announced that it will be combining all its trading divisions – BCWA, Healthsure, HSA, LHF, Totally Active and Vitality Healthcare - into one entity known as Simplyhealth, predicting that the process will be completed over the next two…
Towergate's Cullum outlines US fund-raising plans
Towergate executive chairman Peter Cullum has admitted that the acquisitive broking group is in talks with three US firms as it looks to make its first international acquisition.
Fairfax in £67m cash offer for Advent
US financial company Fairfax has became the latest suitor for a UK-listed Lloyd’s insurer by offering £67m in cash for Advent.
AM Best places XL Capital ratings under review with negative implications
AM Best has placed the financial strength rating of A (Excellent) and issuer credit ratings of A of XL Capital Group and its members under review with negative implications following the company’s recently announced agreement with security capital…
XL prices share, equity security offering
XL Capital, the Bermudian (re)insurer, said that it has agreed to sell 125m ordinary shares (plus up to an additional 18.75m shares issuable upon exercise of the underwriters’ option to purchase additional shares) pursuant to the company’s shelf…
Swiss Re rumoured to be buying Barclays Life
It is believed that Swiss Re is poised to buy Barclays life assurance division.
Fitch upgrades Transsib Re's IFS rating to 'BB-'
Fitch Ratings has today upgraded Russian (re)insurer Transsiberian Reinsurance Corporation's (Transsib Re) international insurer financial strength rating to 'BB-' (BB minus) from 'B+' and National IFS rating to 'A+(rus)' from 'A-(A minus)(rus)'. The…
Bermuda Monetary Authority welcomes XL - SCA announcement
The Bermuda Monetary Authority said it welcomed the agreement between XL Capital and SCA, which will see XL effectively end its reinsurance agreements with the company.
Partner Re reports Q2 investment income losses of nearly $300m
Partner Re, the Bermudian (re)insurer, reported a net loss of $26m in the second quarter of the year, driven down by investment incomes losses of nearly $300m.
XL's chief operating officer Keeling retires
Henry Keeling has retired as XL’s chief operating officer as part of a number of high-profile departures at the Bermudian (re)insurer.
XL Capital strikes deal with SCA
Bermudian (re)insurer XL Capital said that it has come to an agreement with bond insurer Security Capital Assurance which will eliminate $64.7bn of its net exposure to the company.
Burma protestors name and shame insurers
The Burma Campaign UK has today published a new report naming and shaming insurers it claims have facilitated the flow of billions of dollars in to the troubled country.