News
Co-op reports insurance profit despite £55m weather losses
Co-operative Financial Services has announced a general insurance technical profit of £22.6m (2006: £18.9m) for the 28 weeks up to 28 July 2007, with an improving combined ratio.
Allianz seeks to pre-empt MoJ fast track proposals
Allianz Insurance is to make changes to its claims investigation team ahead of anticipated changes to the processing of fast-track cases.
Experts commend FSA approach to solvent schemes review
Speaking at the Association of Run-Off Companies on 14 September, Beth Rees and Paul Taylor, of the run-off supervision team at the Financial Services Authority, outlined the regulator’s approach in reviewing proposals to issue schemes of arrangement to…
Arag in North West deal with Stephensons
Arag is developing its activity in the North West after signing a deal with five office law firm Stephensons to provide after-the-event legal expenses insurance.
Aquilo's Airs acquired by Rok
Rok, a building, maintenance and development company, has acquired the trade and certain assets of Aquilo Inspection and Reinstatement Services for a cash consideration of £2.1m.
Marsh chief Storms out
MMC has announced that the chief executive of its broking arm, Brian Storms resigned with immediate effect late on Friday 14th September.
The Indie Trial: Lomas took courier job to make ends meet
The former finance director of Independent Insurance Dennis Lomas lost a personal fortune of more than £2.2m in shares when Independent collapsed, and resorted to working as a courier for three years. To read more on this story and for regular updates on…
Lomas took courier job to make ends meet
Dennis Lomas lost a personal fortune of more than £2.2m in shares when Independent collapsed, and resorted to working as a courier for three years. Stephanie Denton reports.
Cross examination
Prosecution counsel Andrew Baillie QC, began his cross examination of former finance director of Independent Insurance Dennis Lomas today and told the jury he would attempt to prove that some of the things Mr Lomas had told them were not true. Stephanie…
Special risk unit launched by Munich Re
German reinsurer Munich Re has set up a dedicated unit to develop products offering protection against enterprise risks.
Cunningham Lindsey awards trio
Phil McNeilage, CEO of Cunningham Lindsey, who hosted a celebratory luncheon for this year’s Faculty of Claims CII prize winners. The Cunningham Lindsey Faculty of Claims prize is paid annually for the best standards in IF1 (Legal & Regulatory) and IF4 …
Novae reports £22.4m operating profit
Lloyd's and company market insurer Novae has reported an operating profit excluding FX effect on non-monetary items of £22.4m, a fall of £300 000 on the previous half year performance. Profit before tax was up £17.7m, up 22% (2006: £14.5m)
Broker blasts "incredible" threat from Environment Agency
Aon has described calls by the Environment Agency for insurers to withdraw cover as a deterrant to developers planning to build on flood plans as "an incredible suggestion". Yesterday, Baroness Young, chief executive of the Environment Agency, said the…
Trio appointed to Arista underwriting operation
Arista Insurance, the commercial lines underwriting operation, has appointed Sian Rolfe, Andy Mayers and Richard Clarke to its underwriting team in Redhill.
Lomas unaware of reinsurance contracts' contents, says defence
Dennis Lomas’ evidence in chief continued today with repeated assertions that he believed various correspondences he had regarding reinsurance contracts were in fact in relation to contracts A, B and C1, none of which are under scrutiny, reports Martin…
Stuart Alexander rebrands Helm
After acquiring Ashford-based broker Helm Group UK in March, the Stuart Alexander brand will replace Helm.
UK insurers risking insufficient scrutiny of flood claims
UK insurance providers are risking insufficient scrutiny as they process claims from the country's summer floods, data integration leader Informatica has warned.
Businesses not treating climate change as a "critical issue"
Climate change is still not a critical issue for business, accoding to a poll at the Institute of Risk Management’s annual risk forum this week.
Post pick of the week
Jonathan Swift, editor of Post Magazine provides a run down of the major news stories in this week’s issue of Post including: RBSI boss insists it is not anti-aggregator; CAN looks aborad for staff stop gap; Belfor MD quits to start firm; reinsurers warn…
Canning latest to step down at Erinaceous
Ashley Canning, managing director of Keelan Westall and Cadogan Keelan Westall, acquired by Erinaceous Insurance Services, is leaving the group on 28 September.
Broker Network doubles profit
Broker Network Holdings has announced profits after tax of over £5m for the year ending 30 April 2007, a 147% rise on its previous figures.
Staff lack PC awareness
Employees are shunning political correctness by giggling at racist and sexist jokes, and swearing or...
Exam passes for Outright employees
Outright's Stoke-based employees, achieved passes in three CII examinations. They now qualify for th...
Resignations by women on the rise
The number of women resigning from their jobs in the insurance sector has climbed in the year to Jan...