News
Bright: SFO interview
Excerpts of taped interviews with defendant Michael Bright were read out in court for the second day running. The interviews were conducted between 1 December 2003 and 6 April 2004 as part of a Serious Fraud Office investigation into fraud allegations at…
Regulatory protection insurance launched
Lloyd’s Syndicate 1400, managed by Imagine Syndicate Management, has launched a dedicated insurance liability product called Regulatory Protection Insurance (RPI).
Everest Re delivers quarterly results
Everest Re has reported a net income of $206.4m and operating income, of $201.2m.
Strong outlook for Partner Re
Bermuda-based Partner Re has reported net income of $105.0m for the second quarter of 2007.
Field steps down in Brit restructure
Brit Insurance today announced a group restructure as it aims to continue its strategy of profitable growth.
Montpelier Re to open in Switzerland
Montpelier Re has announced that it is forming Montpelier Europa AG, a Swiss company based in Zug, Switzerland, which it expects to start business on September 1st, 2007.
Fitch: Floods to have limited rating impact on insurers
Fitch Ratings said today that the total cost to insurers of recent flooding in the UK could exceed £3bn. However, Fitch expects the flooding to have a limited rating impact on UK insurers.
ABI warns government over housing plans
New housing developments must be built away from flood - prone areas to ensure that flood insurance continues to remain widely available and competitively priced, the Association of British Insurers has warned.
JLT claims Bermudian market leadership with buy
Jardine Lloyd Thompson (JLT) says it expects to place over $400 million of premium in the Bermudan market each year after completing the acquisition of insurer Park Ltd.
Apil in damages warning
Reform of the law of damages must not be a compromise between the needs of seriously injured people and those who have caused them harm, lawyers have warned.
PWS boasts about online first
PWS claims it has launched the industry’s first Internet-based facility to offer insurance brokers real-time insurance quotations on-line for JCT Clause 21.2.1 and similar construction industry-related insurance.
Marsh hires four in mid-market drive
Marsh has unveiled a quartet of senior sales appointments aimed at increasing its presence in the mid-market sector within the City of London.
Junction appoints three
Junction has strengthened its business development, delivery and marketing and teams with the appointment of Martin Overton, Mike Edgeley and Catherine Hill.
Allianz gets ratings boost
Allianz Insurance and Allianz SE have had their ratings raised by Standard and Poor’s after a series of strong financial results in recent years.
Ariel-Atrium deal sparks negative watches from Best
After Ariel Re and Atrium announced an agreed bid for the Lloyd’s (re)insurer, ratings agency AM Best has put ratings of both parties under review with negative implications.
Smart & Cook acquires Yorkits' BA Insurance Group
Smart & Cook has acquired the BA Insurance Group based in Yorkits, its 53rd acquisition to date.
Capita CMGL forms Syndicate 5500
CMGL Syndicate Management, a Capita Group subsidiary company, announced that it has formed a new Lloyd’s syndicate, Syndicate 5500, backed by CarVal Investors.
Endurance CEO joins Unitas
Mark Boucher, ex-CEO of Endurance Worldwide Insurance has joined Unitas as the chairman of the recently announced underwriting agency.
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
Investors backed Indie till the end
Investors were left convinced that Independent’s shares were a good – if high risk – bet after being given assurances by Michael Bright at the time of its 2000 results, writes Ralph Savage .
R3 Group completes Forces Travel acquisition
The R3 Group has completed the acquisition of the Forces Travel business and plans are underway to integrate the company with Forces Financial, R3’s specialist UK Police and Armed Forces insurance and financial services division.
Mobile Doctors Group joins AIM
Medico-legal reports provider Mobile Doctors has today joined the Alternative Investment Market.
Co-operative Financial Services to cut 1000 jobs by end of year
Co-operative Financial Services has today announced that job lossess will be “inevitable” as part of its plans to improve its operational business performance for the "benefit of its 6 million customers".
Dandridge bows out of Atrium-Ariel combo
Following the announcement of its agreed takeover by Ariel Re Christine Dandridge, active underwriter of Lloyd's Syndicate 609 and an executive director of Atrium Underwriting has informed the board of Atrium of her intention to step down from her active…