News
Brit makes household appointments
Brit Insurance has made two appointments to its UK household underwriting team. Mary Flatres has joined as head of household and Mervyn Albon as household underwriter.
NIG relaunches logo
Broker-only insurer NIG relaunched its logo today, fronted by promotional purple men scurrying around the City.
Results delay may cause Goshawk share suspension
Goshawk, London-listed parent of Rosemont Re, the Bermudian reinsurer in run-off, has said that it shares are likely to be suspended temporarily next month due to delays in producing its 2005 year-end figures.
Howden appoints deputy chairman
Lloyd’s broker Howden has appointed Mark Pangborn as deputy chairman.
Towergate in Road Haulage buy
Towergate Partnership has acquired (Onesol trading as) Road Haulage Association Insurance Services (RHAIS), the Birmingham based specialist insurance broking operation. The company has an exclusive relationship with the Road Haulage Association (RHA) for…
XL details IPO of FG spin-off, Security Capital
Security Capital Assurance Ltd (SCA) – a newly-created holding company for XL’s financial guarantee insurance and reinsurance businesses conducted through XL Capital Assurance (XLCA) and XL Financial Assurance (XLFA) – has filed details of its proposed…
CIS pre-tax profit more than doubles
Co-operative Financial Services’ general insurance arm reported a operating profit of £66.5m in 2005, up £24m on the previous year. Co-operative insurance services pre-tax profit was £37.1m in 2005 compared with £17.4m in 2004. The claims ratio reduced…
Government reports economic cost of fires down
Fires cost the economy £7.03bn in 2004 according to a new report published today by the Office of the Deputy Prime Minister. More than a third of this (£2.77bn) was incurred in anticipation of fire.
FSA and DTI mull audit exemptions for small brokers
The Financial Services Authority has issued a consultation paper about removing the statutory audit requirements under the Companies Act for small firms and Appointed Representatives (ARs). The regulator claimed this was a further move in its ongoing…
Pavilion profits rise
AIM-listed broker the Pavilion Insurance Network has announced its audited results for the year ended 31 December 2005.
S&P says majority of class of 2005 not 'A' quality
S&P has entered the debate on the credit quality of the class of 2005 reinsurance start-ups, saying on a few might attain an 'A' rating.
Tower confirms Castlepoint Re Bermuda start-up details
US P/C insurer Tower Group,has announced that it has entered into a strategic relationship with CastlePoint Re, a Bermuda-based reinsurance company that it has started up.
Stone Point swoops for Axa Re
French-based global insurer Axa has confirmed that Trident II (re)insurance venture capital fund manager Stone Point Capital has made a binding offer for its reinsurance arm, Axa Re. Should the deal go through the new company will be called Paris Re.
‘One-size-fits-all’ policy in PFI housing projects is failing
Heath Lambert has warned against the dangers of trying to shoe-horn social housing private finance initiative projects in with all other types of project.
EC to launch public consultation into motor insurance
The European Commission has launched a public online consultation on two issues related to motor insurance – the effectiveness of claims representatives in settling claims, and insurance cover for legal expenses.
AIG confirms record Man Utd sponsorship deal
Manchester United have announced a £56.5million shirt sponsorship deal with insurer AIG as predicted in this week's Post Magazine (PM, 6 April, p40)
Preston Whiteside directors in court today
Two of the former directors of Preston Whiteside, the broker alleged to be at the centre of a £3.5m insurance fraud in 2003, are due to appear at a Crown Court hearing in Sheffield today.
CSC up for sale, with 4300 jobs to go across Europe
Insurance software specialist Computer Sciences Corporation is set to shed 4300 jobs mainly in Europe, as part of a restructure, which could result in the company being put up for sale. The company announced yesterday that in response to recent…
Regulation threatens broker profits, says Mazars survey
Regulation fails to benefit clients and threatens profitability, brokers have said in accountancy Mazars' 2006 survey of the industry.
Lloyd's reports £103m loss for 2005
Lloyd's this morning reported a loss of £103m for 2005 (2004: £1367m) and a deterioration in the market's combined ratio to 111.8% (2004: 96.6%).
JLT Executive chairman resigns amid board reshuffle
Dominic Collins, executive chairman of JLT, has resigned as the company makes several board level appointments.
Time to test yourself
A selection of questions from various past-CII qualification papers
CII launches new 'MBA in a day' course
The Chartered Insurance Institute has launched a new 'MBA in a day' course, tailored to the financia...
Work Wise Week urges 'smarter' working practice
Organisations across the UK are being urged to try out 'smarter' working practices in Work Wise Week...