News
Chaucer delivers record profit before tax of £89.4m
Chaucer said that full-year pretax profits rose to £89.4m from £86m, thanks to a low level of catastrophes and little exposure to last year's UK floods.
Brit CEO optimistic for 2008 after £191.2m profit
Brit Insurance has reported a profit before tax of £191.2m (2006: £186.3m) on gross written premiums of £1.26bn (2006: £1.23bn).
Lacking awareness underscores Corporate Manslaughter knowledge survey
A new study by Venture Preference has revealed that many care home managers and owners remain completely unaware of the implications of the new corporate manslaughter law despite the fact its inception is mere weeks away.
Lloyd's modernisation consultation begins
UK Treasury minister, Angela Eagle MP, has launched a consultation to modernise the governance arrangements of Lloyd's of London and to remove restrictions which impede the way the Lloyd's insurance market operates through a Legislative Reform Order.
Three charged over crash for cash scam
West Yorkshire police have charged three people in the ongoing inquiry into ‘crash for cash’ scams in conjunction with the Insurance Fraud Bureau.
Loot enters insurance sector
Onlyfinance.com has struck an exclusive deal with Loot, the UK’s free ad outlet to offer its readers an insurance aggregator service.
LV looks to expand
LV general insurance has revealed plans to recruit 350 new staff to meet its "ambitious future business plans".
Lloyd's modernisation consultation begins
Exchequer Secretary to the Treasury, Angela Eagle MP, today launched a consultation to modernise the governance arrangements of Lloyd's and to remove restrictions which impede the way the Lloyd's insurance market operates through a Legislative Reform…
Carrriers exposed to risk by accounting and reporting systems
Carriers are exposed to risk by creaky accounting and reporting systems, according to an IT expert.
Market endorses reform
The Market Reform Group has confirmed the end of March 2008 as the deadline for the adoption of the new endorsement standard in the London market, alongside detailed plans for the transition to electronic endorsements.
FSA seeks industry assessment of its performance
The Financial Services Practitioner Panel is to embark on its 2008 survey of regulated firms to obtain an industry assessment of the performance of the Financial Services Authority (FSA) over the past two years.
US property and casualty insurance prices down 14% - report
US Property and casualty insurance prices were down 14% in February, according to research from MarketScout.
Groupama appoints three new key account managers
Groupama has strengthened its frontline account management team with the appointment of three new key account managers.
Lloyd's insurer to delist from LSE
Kiln has set a date to delist from the London Stock Exchange following its acquisition by Tokio Marine.
PB Week: Private equity piles into broking
The amounts being spent and raised by insurers and brokers on acquisitions hit mind boggling proportions this week after Chris Giles, chief executive of Giles Insurance Brokers, revealed he has been given access to around £500m to grow his business…
Insurer expands North-west division
Arista Insurance, the commercial lines underwriting operation, has made three new appointments to its North-west region which opened in Manchester in January this year under the supervision of regional manager Paul Dooley.
Lloyds TSB launch insurance comparison website
Lloyds TBS becomes the first high street bank to launch an insurance aggregator site.
Insurance prices to drop by 10% by end of 2008 – Stephen Catlin
Insurance prices will drop by 10% by the end of 2008 if it is still another light catastrophe year, Stephen Catlin has said.
Alea says paid 20% of its liabilities over 2007
Alea, the (re)insurer in run-off, said it paid off 20% of its liabilities over the course of 2007, the group said in a statement today.
Insured losses for Windstorm Emma €750-1.3bn - AIR
Insured onshore wind losses for Windstorm Emma will be between €750m - €1.3 bn, catastrophe risk modeling group AIR Worldwide Corporation estimates.
Brit appoints cargo underwriter
Brit has appointed Andrew Coutts as cargo underwriter with immediate effect. He will report to marine underwriting director, Anthony Forsyth, and replaces Tony Sigwart, who is retiring in May after 40 years in the market.
Kwik-Fit awarded quality accreditation
Kwik-Fit has been awarded a new accreditation for its range of services supplied through its headquarters and 670 UK centres and mobile units.
MMA commercial property goes live on Acturis
Intermediary only insurer, MMA Insurance, has announced the addition of its commercial property owners product to the Acturis broker platform, as part of its ongoing strategy to grow its property owners’ portfolio.
Groupama Healthcare enhances web presence
In the first of a number of important online initiatives designed to improve access to information and streamline business processes, Groupama Healthcare has revamped and re-launched its corporate website.