News
Chubb raises commercial stakes
Chubb Insurance has upgraded its packaged commercial product, including eight additional covers offe...
RFIB Group records increase in pre-tax profit
Lloyd's broker RFIB Group has recorded a 50% increase in pre-tax profit to £5m (£3.3m) for the year ...
ABI defends EL stance
The Association of British Insurers has hit back at allegations that the insurance industry is faili...
CBG eyes acquisitions after profits rise by 35%
Manchester-based Community Broking Group reported a 35% growth in profit, compared with 2003, in its...
Admiral launches initial public offering
Admiral Group has announced the launch of a global offer of existing ordinary shares through an institutional offering as part of its plans to float on the London Stock Exchange.
Swiss Re announces Nat Cat estimates
Swiss Re has announced that based on current estimates, it expects its aggregate claims related to hurricanes Charley and Frances to be below $300m before tax. It added these events will not change Swiss Re’s positive outlook for 2004 and its combined…
JLT swoops for Heath Lambert director
Jardine Lloyd Thompson today announced the appointment of Paul Williams as northern sales director.
Beazley Group reports profits of £22.2m
Lloyd’s insurer, the Beazley Group has reported £22.2m in profit before tax to 30 June 2004.
Florida hurricanes will cost Swiss Re £169m
Swiss Re announced today that, based on current estimates, it expects its aggregate claims related to the hurricanes Charley and Frances to be below $300m(£169m) before tax.
Folgate confirms aim to acquire Sterling Hamilton Wright
The Folgate Partnership has confirmed that it is at an advanced stage of negotiations concerning the acquisition of the Lloyd’s broker, Sterling Hamilton Wright.
FSCS Board appoints new chief executive
The Board of the Financial Services Compensation Scheme has appointed Loretta Minghella to the post of chief executive. She will take up her position in December.
Groupama to target electrical contractors through JLT
Jardine Lloyd Thompson Commercial Risks (JLT), has selected Groupama Insurances to underwrite the National Inspection Council for Electrical Installation Contracting (NICEIC) scheme.
Brit shows improvements with interims
Brit Insurance Holdings has announced profit before tax of £52.5m for the interim period to 30 June 2004, an increase of £21.5m on the previous year.
Wellington sees 33% rise despite rate softening
Wellington Underwriting has recorded a 33% increase in profit before tax for the six months ended 30 June to £32.4m (£24.3m) despite a softening of rates. The net combined ratio for the half year was 83% compared to 92% for the same period last year.
Glen goes as QBE restructures
QBE Insurance Group has rationalised its European management structure and appointed Steven Burns as CEO of European operations. Paul Glen, Wayne Lewis and Ferghal O'Regan have all left QBE as part of the restructure, as well as Stephen Gargrave and a…
Fusion opens claims unit in Manchester
Fusion Insurance has expanded its claims handling capabilities by opening a new Northern Claims Unit based in Manchester.
GE Insurance Solutions is born
General Electric said today that it plans to unify the branding of its reinsurance and commercial insurance products and services as GE Insurance Solutions.
Former RSA head Webster joins Brit
Brit Insurance Holdings, has appointed Peter Webster as a non-executive director on the boards of its underwriting operations, Brit Insurance Limited and Brit Syndicates Limited, with effect from 17t August, subject to the usual regulatory approvals.
Aviva sells Asia insurance businesses to Mitsui Sumitomo
Aviva, the UK based insurance company, has entered into an agreement to sell its general insurance operations in Asia to Mitsui Sumitomo Insurance Co (MSI), the second largest general insurer in Japan, for £249 million (US$450 million) in cash. It says…
NU bars Amicus from offices in offshoring spat
Norwich Union has today barred Amicus which represents nearly 10,000 of its workforce from its sites in Norwich and York on the back of a Union Offshoring Survey that showed 99.9% of staff fear further job cuts at the company.
Zurich readies claims team for Frances
Zurich North America said it activated its catastrophe response function, on Friday and mobilized its hurricane response team to be despatched to Florida when Hurricane Frances had passed.
Marine acquisition for Towergate
Towergate Underwriting has announced the acquisition of specialist marine insurance brokers, Mardons.
Aon Travel restructure continues with Howard appointment
James Howard has joined Aon Travel, Aon's specialist travel insurance broking unit, as account manager.
Amlin reports profits up by 17%
Lloyd's insurer Amlin has announced pre-tax profits increased by 17.2% to £74.2m in the six months to 30 June 2004