News
Willis to make redundancies to trim costs - sources
According to Reinsurance sources, Willis has already begun to make cuts in its casualty unit with more expected across the board
Markel appoints joint heads for speciality division
Markel International has promoted Robin Ungless and Wayne Paternoster to joint managing directors of its specialty division.
US class-action securities lawsuits rose 39% in 2009
Settlements rose 39% in 2009, according to a study by Stanford Law School and Cornerstone Research, less than feared by many US D&O insurers.
Defaqto: 8% of policies not offering car replacement cover
Almost one in ten car insurance policies do not over new car replacement cover, research from Defaqto has shown
Forensic accountancy firm adds to regional offices
Forths, which provides forensic accountancy services to insurance companies, has opened a second office in Leeds.
Endurance raises $85m
Bermudan (re)insurer reopens 2004 debt offering of 7% senior notes due 2034 to raise funds for “general corporate purposes.”
Ecclesiastical reports £100m swing in profits
Specialist insurer Ecclesiastical has announced a net profit of £79m for 2009 - a swing of almost £100m after a loss of £22.5m in 2008.
Scor opens life branch in Israel
Scor Global Life has decided to establish a representative office in Tel Aviv for the Israeli life and health reinsurance market, which is estimated to represent around EUR 3.4bn in 2010, due to long-standing business relations in the Israeli Life…
Lancashire: no material exposure to Xynthia
Lancashire Holdings today announced that it estimates its net losses before tax from the earthquake in Chile and subsequent aftershocks range from approximately US$65m to US$125m including the sum of gross claims and claims expenses, reinsurance…
Lancashire: no material exposure to Xynthia
Lancashire Holdings today announced that it estimates its net losses before tax from the earthquake in Chile and subsequent aftershocks range from approximately US$65m to US$125m including the sum of gross claims and claims expenses, reinsurance…
Abbey looking forward to 2010 "with confidence" after £8.7m profit
Abbey Protection saw a 6% growth in pre-tax profits to £8.7m in 2009, on revenue (before investment income) up 15% to £32.5m.
CTC sees loss adjusting reveune and profits increase
Insurance services provider Charles Taylor Consulting saw its profit before tax increase to £15.7m (2008: £9.9m) on reveune of £96.6m (2008: £80.8m) in 2009.
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
Oval swoops for South-west broker
Oval has acquired Gloucester based insurance broker J L Fisher
Equality Bill passed by House of Lords
Harriet Harman, Minister for women and equality, today welcomed the completion of the Equality Bill’s third reading in the House of Lords.
Six arrested in “largest ever” insider dealing investigation
Six men, including two senior city professionals, have been arrested in the Financial Services Authority’s “largest ever” operation against insider dealing.
Aon claims market leading position with deal
Aon has acquired the local German broker Versicherungsmakler which specializes in placing insurance for environmental projects.
Aon claims market leading position with deal
Aon has acquired the local German broker Versicherungsmakler which specializes in placing insurance for environmental projects.
Catlin founder: Bermuda tax rises a nasty surprise
The increasing cost of employing people in Bermuda will add to the pressure on the Island's global reinsurers to locate more jobs in cheaper jurisdictions according to Stephen Catlin
Insurers await UK Budget Report
Insurers are waiting to see the impact of tomorrow’s Budget on insurance premium tax.
Start-up broker NMJ partners with Open GI
The new branch-based broking network established by former Equity Insurance Group Directors has signed up to the Open GI platform for a minimum of four years.
One Answer Network teams up with Selfnet
One Answer Network has teamed up with Selfnet to offer its members a Selfsure product designed to simplify the insurance buying process for both brokers and customers.
Auto Windscreens appoints chief financial officer
Auto Windscreens has appointed Kieron Singleton to the new role of chief financial officer.