News
Allianz loses out as XL builds team
XL Insurance has poached Stefan Bramwell from Allianz Engineering in a bid to boost its construction...
C&G blames abnormal loss for negative outlook
Congregational and General has blamed "industry-wide losses" after its outlook was revised by Standa...
BGL Group moves quickly to replace outgoing Zeidler
The BGL Group has moved to replace Phil Zeidler as managing director of its affinity outsourcing bus...
Condon takes the stand
Former Independent Insurance deputy managing director Philip Condon finally took the stand today admitting that he wasn’t always sure whether Independent’s practices regarding reserves were “acceptable,” writes Jamie Dunkley .
Allianz unveils provider after fraud pilot
Questgates has been retained by Allianz Insurance following a pilot and detailed review of its motor fraud suppliers.
Lloyd's third members' agency given approval
Start up Lloyd’s members agency Alpha Insurance Analysts has today received approval from Lloyd’s and the FSA.
Axa acquires ICAS International
AXA UK has acquired 100% of the share capital of ICAS International, a provider of employee support and well-being services.
Post pick of the week
Jonathan Swift, editor of Post Magazine provides a run down of the major news reported in tomorrow’s issue of insurance industry weekly Post Magazine, including: insurance duo close in on £1bn GWP; Axa blow as it losdes 700 000 policies to rival AIG:…
Industry guidance key role in principles-based regulation
The Financial Services Authority's (FSA) new framework for recognising industry guidance has come into effect – which the regulator said was an important step in the move towards Principles-Based Regulation.
Lloyd's insurer announces Bermuda plan
Lloyd's insurer Canopius has announced plans to launch a new platform in Bermuda.
Highway looks at ways to "embrace aggregators" as investment returns boosts profit
Highway this morning reported a profit before tax of £11.8m (2006: £7.5m) on gross written premiums of £131.2m (2006:£119.3m) for the first six months of 2007.
Kiln to reduce capacity by 14% after reporting £17.2 mprofit
Lloyd's insurer Kiln today reported a profit after tax of £17.2m (2006: £16.3m) on gross written premium of £241.3m (2006: £230.8m) for the first six months of 2007.
RSA recruits new CEO from Ace
Royal & Sun Alliance Insurance has appointed Scott Pickering as chief executive for Asia & Middle East. He will be based in Dubai and report to Paul Whittaker, CEO of emerging markets for R&SA.
Prosecution says handwritten note implicates Bright
The prosecution turned to Michael Bright’s knowledge or lack thereof over the reinsurance contracts, E, F and H that underpin the second charge he faces, one he faces alone, writes Martin Friel.
Ecclesiastical announces 2007 interim results
Ecclesiastical has revealed its 2007 interim results with gross written premium at £201.8m – up £6.1m on 2006.
Felix to cost less than $200m says RMS
Insured losses from Hurricane Felix , which hit the border of Honduras and Nicaragua, are likely to be less than $200m, according to modelling firm Risk Management Solutions (RMS)
Hurricane Felix makes landfall
Nicaragua is on high alert after Hurricane Felix reached category five strength and made landfall in the northeastern part of the country.
SFO prosecution claims Bright knew of reserve lists
Andrew Baillie QC spent the morning session highlighting contradictions in Michael Bright’s defence regarding his knowledge of reserve lists that had not been put on the system, writes Martin Friel.
Primary Group sells global expatriate PMI subsidiary
Health care provider Aetna has bought Primary Group subsidiary Goodhealth Worldwide, a specialist provider of expatriate private medical insurance.
New mutual begins underwriting after FSA approval
Following authorisation from the UK Financial Services Authority, Fire and Rescue Authority Mutual, managed by a Charles Taylor Consulting company, commenced underwriting on 1 September 2007.
UKGI partners with MMA
UKGI has entered into a new partnership arrangement with MMA Insurance, which will allow UKGI members to gain direct acces to MMA's range of products.
Benfield launches capital markets division
Benfield has announced the launch of a capital markets division within its corporate finance and advisory business, Benfield Advisory.
Scor includes Converium bosses in new structure
Fresh from its acquisition of Converium, French reinsurer Scor has appointed a new group executive committee has been appointed that includes two senior figures from the Swiss target company.
Brit boosted by Global Markets business as UK slumps
Brit saw its domestic UK insurance business profit slump in the first half of 2007 from £30.4m to £8.5m.