News
Capital influx could lead to dramatic fall in rates
Insurers risk facing big underwriting losses in the future if they fail to introduce early warning s...
Towergate in the Red
Towergate Risk Solutions has expanded its Romford broking capability through the acquisition of Leyton-based Red Insurance.
Solvent scheme hailed as another post-BAIC success
Gordian RunOff (UK), advised by Reynolds Porter Chamberlain (RPC), is the latest of a small number of companies to gain approval from the High Court for a solvent scheme of arrangement since the BAIC decision last July.
Biba announces 2007 conference location
The British Insurance Brokers Association Conference 2007 will be held at ExCel, Docklands, London 23rd - 25th May, it was announced today
Groupama in new SME broker push
Groupama Healthcare has launched Santé, a new private medical insurance product designed specifically for brokers and intermediaries targeting the SME market.
Lloyd's broker fined by FSA over employee subject to police investigation
Lloyd's broker Besso has been fined £20 000 by the Financial Services Authority for not seeking approval for individual.
Montpelier Re posts Q1 2006 results
Montpelier Re has reported comprehensive income for the first quarter ended March 31, 2006 of $48.5m compared with $36m, for the same quarter of 2005.
Aviva exec Snowball pleased with £87 m deal
Aviva has sold the vehicle solutions businesses of RAC plc to VT Group plc for £54.4m in consideration for the net equity of the businesses and an additional £32.6m to settle amounts owing to Aviva group companies. The total cash receivable is £87 m.
RSA in motor partnership with COBRA
Royal & SunAlliance has today announced a new personal lines motor proposition exclusively for members of the COBRA Network, an independent network of commercial brokers. The proposition, which will be available from 1 May 2006, has been designed in…
Thomas, Carroll chairman retires after 50 year career
Evan Thomas, chairman and co-founder of Thomas, Carroll has retired after a 50 year career in insurance broking.
Biba Conference breaking news: Trade body in terror cover warning
Following the recent bomb attack in Egypt, the British Insurance Brokers’ Association this morning called on insurers to cover terrorism as a matter of course in insurance policies and warned travellers to check their policies.
Biba Conference breaking news: Taylor to stay on as chair
British Insurance Brokers' Association chairman Max Taylor is to stay on for another year it was revealed this morning.
D&O rates continues to slide claims broker
Directors’ and Officers’liability insurance rates in the London market were largely unaffected by insurance industry losses following Hurricanes Katrina, Rita and Wilma, according to the latest Willis Index for this coverage area for the first quarter of…
Swiss Re unveils rights and hybrid details for GEIS buy
Swiss Re has announced the launch of an at market rights offering of approximately $1bn whilst providing further information on its forthcoming hybrid capital offerings.
Spitzer announces Ace settlement
New York attorney general Eliot Spitzer and state insurance superintendent Howard Mills have announced an agreement with ACE and its United States subsidiaries to resolve allegations of bid-rigging and improper "finite reinsurance" transactions.
Hitachi Capital reports 120% profit rise
Hitachi Capital's Insurance division has announced increases in premiums written and net profits for the financial year ended 31st March 2006.
Aspen cuts exposure in wake of 2005 storms
Aspen Insurance Holdings has been working hard to reduce its catastrophe exposures in the wake of the losses that were inflicted by the 2005 Atlantic hurricane season.
Finite exodus at Platinum
Unveiling solid 1st quarter results, Bermudian reinsurer Platinum Underwriters revealed a significant decrease in its finite book of business
Former Airbus risk consultant joins Marsh
Marsh has appointed Andrew Grant as a senior risk consultant within the Property Risks team of its Risk Consulting Practice.
Broker hails success in attracting bright staff from "drudgery of London life"
Cambridge-based broker La Playa has expanded its corporate team, with Amanda Dewey joining as corporate account handler. Chris Owens PhD also joins as finance and administration manager.
UK seeing fastest growth in business failures since 1999
The UK is experiencing its fastest growth in the number of limited businesses failing, according to the latest figures from Experian, the information solutions company. In the first three months of 2006, corporate failures increased by 15.3 per cent to 4…
Broker and business bodies unite to lambast Government over regulation costs
The British Insurance Brokers’ Association and the Federation of Small Businesses this morning jointly warned the Government that they must do more to combat the disproportionate impact of regulation on small insurance brokers.
Insurer in fire epidemic warning
Figures released yesterday by Zurich Municipal, indicate that school fires cost an estimated £67m in 2005 - a £16m reduction from the previous year and the lowest figure in half a decade.
Imarket unveils new product roll out
Imarket has revealed that Software Solutions Partners will begin piloting products on the general insurance industry portal in May, ahead of an aggressive rollout throughout 2006.