News
North of the Border: all change for civil courts?
The civil justice system in Scotland is in line for potentially radical change, after a consultation...
Ecclesiastical joins broker buying set with SEIB swoop
Ecclesiastical has become the latest insurer to jump on the 'buy-a-broker' bandwagon with the purcha...
Insurers rail against 8.3% NHS clawback hike
Leading insurers have hit out at changes to the Injury Cost Recovery Scheme, saying it effectively m...
DAS widens portfolio
The after-the-event trading division of DAS, 80E has extended its product range with the addition of new personal and business litigation policies.
Salmond: Independent broker can help build 'Celtic lion economy'
Scotland's First Minister Alec Salmond has visited Central Insurance Services new £3m headquarters in Aberdeen.
2000 Norwich Union staff set to lose key sports facilities
Norwich Union is set to close Norwich-based Pinebanks sports facilities which is used by thousands of Norwich Union staff and local residents.
Crispin Speers takes over portion of ESR
Apex Insurance Services has reached agreement with Andy Hosking, of Grant Thornton for certain of the ongoing ESR business currently in administration.
International property market takes $1.5b-2bn hit in first 50 days of 2008
The international commercial property market has suffered a string of three major losses totalling approximately $1.5-2bn in the first weeks of 2008 Reinsurance Magazine understands.
Platinum 2007 profits up on rebalanced portfolio
Bermudian (re)insurer Platinum Underwriters increased earnings on marginally reduced net writings in 2007 while at the same time moving the portfolio balance away from its traditional casualty core in favour of greater volumes in property and marine.
London & Capital wins CCRIF account
Captive insurance asset manager London & Capital has been appointed to manage the reserves of the World Bank-backed Caribbean Catastrophe Risk Insurance Facility (CCRIF).
Munich Re places first tranche of $1.5bn life cat bond programme
Munich Re has announced the placement of the first $100m tranche of a $1.5bn extreme mortality bond through a Cayman’s based vehicle called Nathan.
Montpelier Re says FY net income rose 4%
Montpelier Re, the Bermudian (re)insurer, said that full year net income rose over 4% to $315.8m, up from $302.9 a year before.
Panmure pans Benfield
A secular squeeze on fees and commissions, falling reinsurance prices and the time taken for Benfield Corporate Risks to achieve profitability are headwinds towards Benfield, says Panmure analyst Barrie Cornes in a note to shareholders.
P&I clubs maintain discipline at renewal
Protection and indemnity renewal premiums have risen by 10-15% in 2008 according to a senior broker at Aon.
London law firm launches free R/I arbitrator training
London law firm Addleshaw Goddard is launching a campaign to develop the skills of existing market professionals and attract new talent to fill a shortfall of reinsurance arbitrators.
Axis in Charman u-turn
Axis Capital today announced that the terms of the employment agreement of John Charman, chief executive and president, have been extended to 31 December 2013.
Munich Re sees combined ratio above average in 2008
Global reinsurer Munich re has said it expects to report a 96.4% combined ratio for its 2007 property-casualty reinsurance business in on with a premium volume of €14.2bn ($20.9bn) for 2007 against 92.6% a year earlier.
MRG: the end of paper processing is nigh
The Market Reform Group today published details of the arrangements which will see the end of paper processing for accounting and settlement submissions
CLA Game Fair protects itself from second cancellation
After being forced to cancel its annual event last year the CLA Game Fair, the world’s largest countryside event, has taken out insurance against disruption, including adverse weather conditions and infectious diseases, with Event Assured through broker…
Flagstone Re FY net income rises over $15m
Flagstone Re, the Bermudian (re)insurer, said that full year net income grew to $167.92m (£86.1m) from $152.34m in 2006, thanks to a low level of catastrophe losses during the year.
Glacier Re to expand into Latin America; opens Buenos Aires office
Glacier Re, the Switzerland-based (re)insurer, said that it is to expand its operations into Latin America by opening an office in Buenos Aires.
Ireland pledges $2.4m to Caribbean Cat fund
The Irish government has donated $2.4m to the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility.
Homeserve emergency business hit by cash settlements
Homeserve has admitted that its emergency services business has been impacted by a rise in cash settlements in the wake of the summer floods.
Fortis diversify with new UK company
Fortis is set to diversify into the UK life market, according to reports.