News
Purple network wins 40th member
Birmingham-based insurance and financial services provider Jobson James has become the 40th member of Jelf-owned broker network Purple.
Assurant purchases $150m reinsurance through cat bonds
Assurant subsidiaries have entered into reinsurance agreements providing for $150m in multi-year, fully collateralized reinsurance from Ibis Re, a special purpose reinsurance company domiciled in the Cayman Islands.
UK takaful insurer sold to Kuwaiti buyer
Principle Insurance Holdings, parent company of the UK’s first Shariah compliant insurance group, has confirmed the conditional sale of its subsidiaries, Principle Insurance Company and Principle Marketing Services, to Al Salam Group Holding Company – a…
Montpelier appoints US CEO
Short-tail (re)insurer Montpelier Re has named Dick Nenaber CEO of Montpelier US Insurance Company (MUSIC).
AIG “relatively stable” – US government
AIG has remained in “relatively stable” financial shape since September last year, the United States Government Accountability Office said.
Analysts positive on Scor results
Analysts watching Scor’s first quarter results are pleased that the group’s bond exposure does not extend to some of the European Union’s more troubled countries.
Giles confirms FSJ deal
Giles Insurance Brokers finalises deal which sees the FSJ broking unit of Cooper Gay join the broker with immediate effect.
QBE wins crash for cash case
A collaboration between the counter fraud teams of QBE and law firm DWF has seen two people given a suspended sentence and one a sentence of conditional discharge.
Marsh in trade credit shake up
Marsh has created a trade credit practice for Europe, the Middle East and Africa, to be led by Tim Smith, who was previously head of the UK trade credit practice.
XL Insurance launches global claims system with Accenture
XL Insurance and Accenture are implementing a new centralised global claims management system to support the insurer’s operations in 25 countries.
Axa raids Hiscox and Beazley for financial lines push
Axa Insurance has made a number of specialist appointments to underpin its growth plans in the SME sector and its ambitions in the mid-corporate market.
Alexander Dreyer joins Miller to head the European financial institutions team
Miller has enhanced its financial institutions business with the appointment of Alexander Dreyer.
Fortis outlines readiness for MoJ RTA reforms
Fortis today claimed that it is one of the first insurers to have implemented an ‘application to application’ approach ahead of the reforms to streamline the compensation system for low cost road traffic accident personal injury claims, launching on…
Scor Q1 net income falls 61%
High natural catastrophe losses are behind Scor’s reported €36m losses in the first quarter of 2010, according to the company.
LMA nominates Beaton as Xchanging rep
The Board of Xchanging Claims Services has announced that Ian Beaton has been appointed as the Lloyd’s Market Association’s representative to be a non-executive director of XCS.
Quinn investigation now focuses on loans
The Financial Regulator is concentrating on two areas relating to guarantees given by Quinn Inusrance's subsidiaries to the wider Quinn group as its investigation nears a close.
RenRe reports Q1 net income of $165m
Bermuda (re)insurer RenaissanceRe has reported net income of $165m, or $2.73 per diluted common share, in the first quarter of 2010. This compares to $97.3m for the first quarter of 2009.
Gable in new French broking tie-up
AIM-listed Gable has signed a new agreement with its French broker, France Assurance Consultants, to provide a programme of property related risk insurance.
US stock market plunges
The US stock market plunged on Tuesday after downgrades to debt ratings in Greece and Portugal sent stocks falling over 2% at the end of trading.
Montepelier makes minor Q1 gains despite cat losses
Montpelier Re, the Bermudian (re)insurer, managed to eke out a gain in the first quarter of the year, despite having a monster jump in combined ratio.
Grant Thornton: some Quinn UK lines will see no rate hikes
The adminstrator of Quinn Insurance has hit back at suggestions it plans wholesale increases across all of its UK business, if and when it is allowed to trade again.
QBE CEO content with alllowances for large claims after $470 Q1 hit
QBE has revealed that its estimated large risk and catastrophe claims, which are defined as net claims of $2.5m and above, for the year to date are $470m. This compares with an estimated net $430m for the same period in 2009.
Admiral CEO bullish despite Confused turnover decreasing 5% in Q1
Henry Engelhardt, Admiral chief executive, this morning said his business had "continued to grow and prosper in the last three months".
Scor Q1 net income falls 61%
High natural catastrophe losses are behind Scor’s reported €36m losses in the first quarter of 2010, according to the company.