News
PB Week: AIG attempts to reassure brokers
On Monday evening I returned from Spain to find the financial world seemed to have turned upside down, writes Andrew Tjaardstra, editor, Professional Broking .
AIG appeases UK brokers
AIG UK has issued a statement to UK brokers assuring them its ability to pay claims remains “undiminished”, in a bid to pacify wavering confidence within the market.
Fitch puts HBOS/Lloyds TSB on negative watch
Fitch Ratings has today placed HBOS’ long-term issuer default rating of AA and Lloyds TSB’s long-term IDR of AA+ on rating watch negative.
IGI bolsters legal expenses operation with acquisition
Specialist general insurer, IGI Group (IGI), has acquired legal expenses specialist Complete Claims.
Major reinsurers. brokers sign agreement for shared electronic data platform
Some of the European reinsurance market's biggest names have signed an agreement to establish an electronic data transmission platform that will facilitate administrative processes between insurers, brokers and insurers.
Randall & Quilter H1 pretax profit doubles
Randall & Quilter, the UK run-off company, said that first half pretax profit doubled to £4.4m from £2.2m the year before.
Lloyds insurers may benefit from AIG trouble - KBW
The difficulties at stricken insurance giant AIG "probably" may well lead to a rise in business volumes and profits in the 2009-10 are likely to rise, analysts at Keefe & Bruyette said.
Heath Lambert appointed as broker for FKI
Heath Lambert Group has won diversified engineering group FKI, which has offices in 17 countries in addition to the UK and a turnover of £1.4bn, as a client.
Barbon results bode well for future, says Goodman
Barbon Insurance Group has posted its first financial statement since rebranding from Erinacous Insurance Services, separating from its parent company and its acquisition by a banking consortium.
Lloyds TSB and HBOS tie-up aims for £1bn yearly savings
Lloyds TSB and HBOS have reached agreement on the terms of a recommended acquisition by Lloyds TSB of HBOS.
RMS ups insured loss estimates from Ike to $7-12bn
US modelling agency RMS has upgraded its US onshore and offshore insured losses from Hurricane Ike to $7-12bn from its original estimate of $6-16 bn.
Whittington hires independent non-executive chairman
Lloyd’s managing agent Whittington Capital Management, part of insurance investor and services provider Whittington Group, has appointed Tom Riddell as independent non-executive chairman.
Hiscox upgraded despite 'unsettled times'
Rating agency AM Best has upgraded Hiscox to A from A-. The rating covers Hiscox Bermuda, Hiscox UK and Hiscox Guernsey.
Lloyds TSB confirms take over of HBOS
Lloyds TSB has confirmed this morning that it will take over rival bank HBOS. The move follows the collapse of shares in HBOS which has 20% of the UK mortgage market. The move would also create a new top ten insurer in the UK .
Pick of the Week
Post editor Jonathan Swift looks at the major stories from the general insurance market. This week: A...
Appointment at Zurich
Zurich North America Commercial has appointed Richard Richiski as head of distribution and regional ...
Mike India Five wins Brownsword chase
Manchester-based surveillance specialist Mike India Five plans to boost turnover by 100% over the ne...
Ex-Guardian managers in new motor launch
A host of former Guardian Holdings directors are poised to launch an online insurance provider that ...
First Assist in travel deal
First Assist Insurance Services has signed a travel insurance deal with Sainsbury's Finance. The con...
Octopus ramps up commercial panel
A start-up commercial lead supplier signed up its sixth insurance partner this week and is looking f...
Innovations could cut legal costs for insurers
The Motor Insurers' Bureau is looking to introduce a range of innovations in its efforts to combat c...
Ecclesiastical aims to expand its broker reach
Ecclesiastical is planning to increase the number of intermediaries it deals with following the appo...
Aviva is hit for £270m
Norwich Union parent Aviva has revealed a "minimal equity exposure" to the collapse of Lehman Brothe...
Randall and Quilter deal
Randall and Quilter, the run-off management service provider and acquirer of solvent insurance compa...