News
Pick of the week
Post supplements editor Stephanie Denton and editor Jonathan Swift provide a run down of the major news in this week's issue of Post Magazine including:
First Assist wins Home and Legacy contract
First Assist Legal Protection has been appointed by specialist mid-to-high net worth broker Home and Legacy as its new leagal expenses insurance provider from 1 June.
Willis Louisiana appoints senior vice president
Willis has appointed Nigel Brunning as senior vice president and regional partner for Willis of Louisiana, effective immediately.
Coface appoints political risk head
Trade credit insurer Coface has appointed Florence Mognetti to head up its London market political risk operation following a restructure.
Scottish Re says will look for a new CEO
Bermudian (re)insurer Scottish Re said that it will be seeking a new chief executive after it shortened the term of current chief executive George Zippel's term of office to the end of July of this year.
RMS: Emma damage totals €300-700m
Specialist modelling firm RMS has said that total insured losses from Windstorm Emma will be between €300m and €700m.
Electronic accounting and settlement arrives in Bermudian reinsurance market
Technology in the Bermudian reinsurance market has taken a leap forward with the arrival of electronic accounting and settlement messaging.
Hibernian installs environmentally friendly printers
Hibernian Group has installed a new environmentally friendly printing system at a cost of €700,000.
L&G releases claims figures
The proportion of critical illness (CI) claims Legal & General declined for non-disclosure fell from 12.1% to 7.7% in 2007.
Offshore tax haven Guernsey opens office in China
Guernsey Finance has officially opened its office in Shanghai, China that will provide a base for the island to promote its professionalism and expertise in financial services.
Chaucer and Towergate resolve poaching row
Lloyd's insurer Chaucer and Towergate have reached an out of court settlement over a dispute over competition car business.
Aspen appoints new marine and energy leader
Bermuda-based insurer Aspen has promoted Simon Mason to the role of deputy head of marine and energy, international insurance, with immediate effect.
Teletext holidays launches new travel insurance product
Teletext Holidays has joined forces with Citybond Suretravel and Mondial Assistance, leading providers of travel insurance and assistance services in the UK, to launch a range of Teletext-branded travel insurance products that are bookable online and…
MMC says vice-chairman to retire
Marsh and McLennan’s vice chairman Mathis Cabiallavetta is to retire, MMC said today.
Argo buys US underwriter Massamount for undisclosed sum
Specialist (re)insurer Argo Group said that its Trident unit had acquired US underwriter Massamont Insurance for an undisclosed sum.
SBJ snapped up by insurer
Axa UK has launched an offer to acquire SBJ Group.
FSA reveals consumers unprepared for financial hardship
A fifth of homeowners expect trouble meeting mortgage payments over the next year, yet a quarter have no plans for how they would meet any increased cost, according to a survey from the Financial Services Authority (FSA).
New system aims to help victims of car theft
Cyclops ANPR System is launching a new service this month to help car owners trace their stolen vehicles.
Admiral reports 24% increase in profit
Admiral Group today announces a record annual result with a profit before tax of £182.1m for the year to December 2007, an increase of 24% over the previous year. Turnover, comprising total premiums written, gross other income and investment income, rose…
JLT Re ups 2007 margins against soft market headwinds
Reinsurance broker JLTRe has reported turnover of £43.2m for the 2007 year, down 8% on 2006, and a trading margin of 11%, compared to 10% for 2006.
JLT talks of good recovery in Europe as profits jump 5%
Broker JLT has reported a 5% increase in profit before tax of £95.2m on turnover of £473.2m, 3% ahead of 2006, or 4% ahead at constant rates of exchange, for 2007.
Giles aims for £1bn after Charterhouse hands over £500m warchest
Giles Insurance Brokers has been given a £500m warchest after being acquired by private equity firm Charterhouse Capital Partners.
Europ Assistance expands business development team
Europ Assistance has expanded its business development team with the appointment of Mike Daniels as business development manager.
Kiln takes share in expat insurer
Kiln has announced it has taken a minority shareholding in Gibraltar-based insurance provider Ibex.