News
Loss adjuster opens new London office
Merlin Professional Claims Services has appointed Graham Cranford Smith a former director of Carr Greenwood Smith to head up a new London office.
Advent profits tumble
First half pretax profits at Lloyd's (re)insurer Advent tumbled, falling to £1.6m from £6.7m a year before, reflecting heavy risk losses in the first half of the year.
First Shariah-compliant insurer launches
The first Shariah-compliant insurance company has fully launched in the UK today.
Willis takes a swipe at broking rivals
Willis claims the insurance industry has failed on its own to reform the practice of contingent commission payments to brokers and said regulators must finish the job begun by former US Attorney General Eliot Spitzer in 2004.
Aon's McGill in transparency call
Aon has urged the New York insurance department to put in place comprehensive transparency and consent standards that apply to all insurance producers conducting business in the state.
Canada Life changes internet service
Canada Life has launched two new modules for CLASS, its internet-based eBusiness portal.
British Insurance Awards 2008
Over 1800 of the great and good attended the British Insurance Awards in July at the Royal Albert Hall.
PWS grows marine team
THB has appointed Ralph Williams as a new divisional director to the marine division of insurance and reinsurance broker PWS.
FSCS dishes out £46m in insurance claims
The Financial Services Compensation Scheme paid out a total of £82m in compensation claims for 2007/08.
Integro takes senior broker Blick from GC Fac
Global broker Integro has taken on senior facultative broker Ian Blick from Guy Carpenter.
Fusion founders Pallett and Crisp quit
Towergate-owned Fusion founders Kevin Pallett and Geoff Crisp have left the business.
Confused adds new partner to home panel
Confused.com has confirmed the addition of bullseyeinsurance.co.uk, to its list of insurers for home insurance.
MIB picks new service provider
Argent Rehabilitation, part of the Parabis Group, has announced it will work with the Motor Insurers’ Bureau to provide rehabilitation services following a comprehensive tender review process.
LAM attracts new member ahead of court battle
London Authorities Mutual says it expects a recent High Court ruling to be overturned as Islington Borough Council joins its ranks.
FSA questions 'consequential loss' phrase
The Financial Services Authority (FSA) has published a statement on the use of the phrase 'consequential loss' in general insurance contracts.
Howden strengthens Latin American team
Howden has strengthened its Latin America team with the appointment of Juan Martinez de Velasco as associate director.
Carvill releases Dolly contract settlement value
Reinsurance broker Carvill has released a settlement value for its Carvill Hurricane Index (CHI) contracts after Hurrican Dolly made landfall in Texas on 23rd July.
Munich Re shares tumble over 12% after profits warning
Global reinsurance giant Munich Re has said it will miss its 2008 profit forecast, sending shares tumbling over 12%.
Arch Capital Q2 net income falls
Arch Capital said that second quarter net income fell to $192.3m from $199.4m in 2007. First half net income fell to $381.7m, from $397.9m the year before.
IPC Holdings Q2 net income nearly doubles
IPC Holdings, the Bermudian (re)insurer, said that second quarter results for the last three months of the year to end-June nearly doubled to $47.5m from $27.9m.
Max Capital buys Imagine's Lloyd's operations for £11m cash
Max Capital said it has entered into an agreement to acquire Imagine Lloyd's and Imagaine Lloyd's operations in Denmark and Japan from Caribbean-based (re)insurer Imagine for £11m cash. The agreement also includes the acquisition of Imagine Lloyd’s…
Beazley reports 25% fall in pre-tax profits
Beazley Group has reported a 25% fall in pre-tax profits to £45m for the first half of 2008, compared to £60.2m during the same period last year.
Dolly damage estimate for US, Mexico downgraded to $350- 700m - AIR
Catastrophe risk modeling firm AIR Worldwide has downgraded its estimation of total insured losses from Hurricane Dolly in the US and Mexico at between $350m - 700m. Estimated insured losses from Hurricane Dolly, in the US only, have been narrowed to…
Amlin acquires minority shareholding in broker Miles Smith
Amlin, the Lloyd's (re)insurer, said it has acquired a minority shareholding in independent UK retail broker, MS.