News
Hiscox premiums up 15% to May but 20% de-emption planned for 2008
International specialist (re)insurer Hiscox has reported an increase of 15% in gross written premium to May 2007 despite the weakening US dollar, but has announced a planned 20% de-emption of capacity in 2008 for its flagship Lloyd’s syndicate 33.
Adjuster boss does not rule out acquisition as it expands into Ireland
Following new contract wins, Mathieson-Ingham Adjusting has said it plans further expansion with a presence in Northern Ireland.
Carrier departs in Kiln shake up
Following the redomicile of Kiln to Bermuda and the formation of Kiln Ltd, the new ultimate holding company, Kiln has taken the opportunity to review its management structure to reflect the new organisation.
Liberty International Underwriters Expands Specialty Casualty Products
Liberty International Underwriters (LIU), a division of global insurer Liberty Mutual, has expanded four specialty casualty insurance products.
Bahrain to overhaul rules for overseas insurers
The Central Bank of Bahrain is proposing amendments to capital requirements for branches of foreign insurance firms operating in Bahrain.
Broker boss predicts it will become a "dominant force" after unveiling new office
Lloyd’s broker Howden today announced the opening of a new office in Argentina by its joint venture, VK Howden.
Hiscox in £27.5m swoop for insurer
Hiscox has announced the acquisition of ALTOHA an insurance holding company and its subsidiaries American Live Stock Insurance and Harding & Harding, the affiliated insurance agency for $55m (£27.5m).
Insurex Expo-Sure launches online occasion insurance
Specialist event insurance provider, Insurex Expo-Sure, a division of Hiscox, has launched its comprehensive cover online for organisers of small events.
Indie Trial prosecution: Profit commissions paid on false information
It was alleged today that Independent’s tactic of keeping claims reserves over £100 000 on the whiteboard and not entering them onto the company’s system led to inaccurate loss ratio calculations and unwarranted payments of profit commissions to brokers,…
Prosecution: Profit commissions paid on false information
It was alleged today that Independent’s tactic of keeping claims reserves over £100 000 on the whiteboard and not entering them onto the company’s system led to inaccurate loss ratio calculations and unwarranted payments of profit commissions to brokers,…
Axa chief defends UK broker purchases
UK insurers that have not bought brokers to secure market distribution may have missed the boat in the battle over UK distribution, according to the head of the Axa Group.
UK insurers need to buy brokers to secure distribution says Axa
UK insurers that have not bought brokers to secure market distribution may have missed the boat in the battle over UK distribution, according to the head of the Axa Group.
UK insurers need to buy brokers to secure distribution says Axa
UK insurers that have not bought brokers to secure market distribution may have missed the boat in the battle over UK distribution, according to the head of the Axa Group.
Electrical Contractors' launches SME arm
The Electrical Contractors’ Insurance Company has launched a new underwriting arm, Facilitas, specialising in the SME market.
Zurich unveils new venture to handle small commercial direct
Zurich is to establish a new business unit for its direct business in Europe effective 1 July. Called Direct Business, it will be part of Zurich's Europe General Insurance division and will bring all existing personal and small commercial direct…
JLT extends Crawford deal
Jardine Lloyd Thompson Corporate Risks has extended its claims outsourcing agreement with Crawford & Company to include a further five UK-based JLT offices.
UK’s Met office predicts below average Atlantic storm season
UK Government weather research specialist, the Met Office has released a below average Atlantic tropical storm frequency forecast for the 2007 season.
Questgates shake up sees founder resign
Questgates is to appoint three new board directors and enhance its senior management team, with effect from 1 July. The changes follow the company's first review since becoming a limited company and the acquisition of the equity of director David Miles.
MIB reports steep rise in claims involving foreign vehicles
The Motor Insurers Bureau has seen a rise in the number of claims involving foreign vehicles. Between 2004 and 2006 claims involving foreign vehicles rose from 17 032 to 19 621.
Brit agrees $200m cat bond swap deal
Brit Insurance has entered a three-year catastrophe swap contract with Fremantle, a Cayman Islands exempted company, that would pay it up to US$200m in the event of four to nine qualifying natural catastrophes.
Best sees 'somewhat magnified' risk in Montpelier Lloyd's move
Rating agency AM Best has said that it sees "execution risks that are somewhat magnified" for Bermudian reinsurer Montpelier Re as it opens its syndicate 5151 at Lloyd's and its MUI US underwriting operation.
The Indie Trial: Lomas kept in the dark says defence
Defence counsel for Dennis Lomas today asserted that his client knew little about concerns over reserving held by Independent’s senior claims executives until May 2000, writes Ralph Savage .
Lomas kept in the dark for three years says defence
Defence counsel for Dennis Lomas today asserted that his client knew little about concerns over reserving held by Independent’s senior claims executives until May 2000, writes Ralph Savage .
Ace Tempest Re uses Lloyd’s to access China
Ace Tempest Re Group, the reinsurance division of the Ace Group of Companies, announced today that it has established an underwriting presence at Lloyd's Reinsurance Company (China) Limited, Lloyd's new licensed reinsurance company based in Shanghai.