News
Agencyport hires new CFO
Agencyport, a software and services provider for the insurance and reinsurance industries, has appointed Richard F. Gilbody to chief financial officer and director of Agencyport Software.
RSA reports 58% increase in underwriting result to £375m
General insurer RSA reported a 58% increase in the underwriting result to £375m for the full year 2011, attributed partly to the successful growth of overseas operations.
Ecclesiastical launches campaign to save churches from metal theft
Ecclesiastical is set to invest £500 000 to fit roof alarms to the worst-hit churches.
Catlin sponsors scientific expedition
Catlin is set to be the sponsor of a scientific expedition that will include the first study to document the composition and health of sections of the Great Barrier Reef across a range of depths.
Allianz UK operating profit improves as group net income impacted by Greek debt
Allianz has reported that its UK business logged gross written premiums as stated of €534m in 2011 (2010: €485m).
Accordian Re gains new capacity for Japanese market
Lancashire Holdings has secured additional capital of $75m (£48m) for Accordian Re to focus on the 1 April Japanese market renewals.
Tawa backs new London broker
Insurance service provider and run-off investor Tawa is backing a new London-based commercial lines broker that launched today.
Former Aspen CFO to replace Culmer as RSA group finance boss
RSA has appointed Richard Houghton as its group chief financial officer.
Lancashire CEO Brindle "cautiously optimistic" for 2012 after $219m year end profit
Lancashire has reported an 8.2%, or $56.8m, drop in gross written premium to $632.3m in 2011.
Swiss Re P&C operating income halves despite $1.3bn reserve releases
Swiss Re has seen its property and casualty operating income almost halved in 2011 to US$1.28bn (US$2.47bn).
RSA UK back-in-black, but commercial hit by "drag" of three-year fleet deal
RSA has reported a 6% rise in UK premiums to £3.1bn in 2011 and an underwriting profit of £40m (2010: £95m loss).
RBSI reports £749m turnaround in profit in 2011, as it sheds 1.3m policies
Royal Bank of Scotland has reported an operating profit of £454m in 2011, compared with a loss of £295m in 2010. Its new underwriting profit was up from £307m to £1.04bn.
ABI calls for reduction in fixed legal fees
The Association of British Insurers has said it is time to “put a brake on the UK’s exorbitant legal bill” which is costing UK consumers £1666 every minute.
Willis makes u-turn over contingent commissions as profits tumble
Broker stresses new stance does not have an impact on most business.
Wentworth Alexander employee 'under surveillance' after leaving Bluefin
Axa-owned broker Bluefin has admitted it would use private detectives to spy on former staff it suspects of breaking restrictive covenants.
Career development: BT Claims to add 20 in ABS push
BT Claims is set to recruit 20 new staff following is application to become an alternative business structure.
Experts claim average broker selling price falling
Graham Barr, who joined acquisitive broker CCV as chief operating officer in October, has said brokers are selling on average at less than 1.5 times their brokerage, with only unusual niche specialists selling for two times.
Career development: Swinton creates 100 roles in HPI link up
Insurance broker Swinton has created 100 new roles after joining forces with vehicle information firm HPI to offer free comprehensive seven-day cover.
Market moves: Spring comes early for insurers
Following a strong week for managing general agents, insurers were the main recruiters this week as the market begins its move into the spring.
Legal chiefs angered by Downing Street snub at the motor premium summit
Only insurers were invited to the Number 10 meeting, leaving many sectors feeling left out in the cold.
Loss adjuster distances itself from former employee accused of accepting a bribe
Merlin says any transaction was undertaken without authority
In conversation with Zurich: Corporate underinsurance for plant machinery repair and replacement
There have been a number of surveys that have highlighted underinsurance in the corporate market, with a heavy emphasis on business interruption and property reinstatement. But another insurable cost is often over-looked, that of plant machinery repair…
Zurich appoints Bouchard head of government and industry affairs
Zurich Financial Services Group has appointed Francis Bouchard as the group head of government and industry affairs, with effect from 1 April 2012.
Warehouse fire causes disruption
Over 100 residents from 30 properties have been forced to leave their homes following a fire at a Gloucestershire warehouse.