News
Lords' threat to kill judgment favours police
The House of Lords has delivered its judgment in the conjoined appeals of Van Colle v Chief Constable of Hertfordshire and Smith v Chief Constable of Sussex .
(Re)insurers fingered for 'insuring repression' in Burma
The Burma Campaign UK has fingered some of the world's biggest insurers, accusing them of facilitating the "flow of billions of dollars to the Burmese regime, money that hasn’t benefitted Burma’s people and has instead been used to finance campaigns of…
Liverpool Victoria latest to be hit by FSA enforcement
Liverpool Victoria’s banking arm has been become the latest firm to fall foul of the Financial Services Authority’s (FSA) investigation into payment protection insurance (PPI) selling practices.
Glacier Re takes specialty treaty underwriter from Ace
Glacier Re, the European reinsurer, has announced the appointment of Doris Pöpplein as specialty treaty underwriter.
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.