News
Analyst lacks confidence in SVB forecasts
Lloyd's insurer SVB's fourth quarter syndicate forecasts have been described as disappointing by one analyst. Nicholas Johnson of Numis, left his own forecasts unchanged, but lowered his confidence level in its numbers.
Cunningham Lindsey selected for Endurance panel
Endurance Worldwide Insurance has selected Cunningham Lindsey as one of the panel of loss adjusters for it’s UK lead proposition on the direct property insurance account. The appointment is effective immediately.
Lloyd's honours US brokers for outstanding achievement
Lloyd’s of London has announced the winners of the 2005 US Broker Awards.
Max Re rejigs reinsurance team
Max Re Capital has announced that its subsidiary Max Re has made a series of appointments in its reinsurance division.
Alea announces management changes
Alea Group Holdings, the specialty insurer and reinsurer, has announced changes to its executive management team.
Atrium profit expectations raised
Atrium Underwriters, the wholly owned subsidiary of Atrium Underwriting plc, today announces the results for its managed syndicates 570 and 609 for the 2002 year of account, updated forecasts for the 2003 year of account and initial forecasts for the…
FSA sets July e-reporting deadline
The Financial Services Authority has announced that from 1 July 2005 many firms will have to start submitting returns to the regulator using a secure web-based system. This is the first stage in implementing its decision to introduce mandatory electronic…
Capita predicts 2005 growth
Claims specialist and loss adjuster Capita reported a 19% in crease in turnover and 22% rise in profits for 2004.
Chaucer forecasts 20.3% profit for 2002 YOC
Chaucer insurance has improved its forecasts for the 2003 year of account and announced a profit of 20.3% for 2002.
Moody’s affirms RenRe ratings
Moody's Investors Service has affirmed the A1 insurance financial strength rating of Renaissance Reinsurance and the debt ratings of RenaissanceRe Holdings (senior unsecured at A3, subordinated debt at Baa1, preferred stock at Baa2, including its shelf…
Claims appointment at Heath Lambert
Heath Lambert Group has appointed Tim Murphy as a director of claims management services.
Imagine rating under review by AM Best
AM Best has placed the financial strength and issuer credit ratings of A- (Excellent) and “a-”, respectively, of Bermuda-based Imagine Insurance under review with negative implications.
Ceta in product push
Broker network Ceta, has launched the Ceta Premium Club, aimed at extending clients' access to general insurance products.
Zurich extends Bradford & Bingley deal
Zurich's Personal Insurance business has secured a three-year extension of their long-standing deal with Bradford & Bingley to supply household insurance for their block policies.
Appointment at Argent adjusters
Argent Liability Adjusters has recruited Michael Hodgson as a senior adjuster at its Bristol office.
QBE profits up
QBE Insurance today announced a record operating profit after tax for the year ended 31 December 2004.
Welsh authorities launching fraud clampdown
Local authorities in Wales are launching a clampdown on fraudulent insurance claims, which are estimated to have cost council tax payers £30m in the last 12 months.
Stormy 2004 studied in Munich Re report
According to Munich Re's new study "Topics Geo – Annual Review: Natural Catastrophes 2004" 2004 was marked by dramatic events as a result of earthquakes and tropical cyclones. There were also exceptional natural hazard events in areas that are otherwise…
Converium boss Lohmann replaced
Swiss reinsurer Converium has replaced its chief executive Dirk Lohmann with the company’s managing director Terry G Clarke.
Scan Van claims company welcomes Pleural Plaques decision
Litigation funding company FreeClaim IDC, has welcomed a High Court’s decision in a case testing the law on asbestos compensation payouts, but is disappointed the level of compensation that can be awarded has been slashed.
Axa GI revenues top £3bn
Axa UK's general insurance business revenue increased by 4.3% to £3.1bn in 2004, from £2,9bn the previous year. The insurer has posted earnings up £145 million on 2003 and a sustained improvement in general insurance business combined ratio, 2.4 points…
RBSI profits jump, blames Churchill for combined ratio rise
Royal Bank of Scotland Insurance’s contribution to the group's profits increased by 42% (£253m) to £862m for the 12 months to 31 December 2004. These figures included the first full year’s contribution from Churchill, which was acquired in September 2003…
Only 31% of UK workers trust managers
UK workers' attitudes towards senior management are significantly worse than those of their US count...
Employees rejecting 'long hours' culture
Financial services and banking employees are turning their backs on the profession's 'long hours' cu...