News
Start up Lancashire warns over property and marine pricing after January renewals
Insurance start up Lancashire this morning reported better than expected trading in the January renewals. However, while Lancashire noted this was the case for retrocession and energy classes, it added marine excess of loss and the property catastrophe…
Barclays reports 12% increase in insurance business
Barclays saw its insurance a double digit increase in its insurance business for 2005, the bank reported this morning. Last year Barclays launched an aggressive advertising campaign on the back of a deal with Norwich Union.
Groupama announces new management team
Groupama Healthcare has confirmed its new management team as the integration of its two healthcare operations begins, following the acquisition of Clinicare in October 2005.
Lloyds TSB Insurance launches TV ad campaign
Lloyds TSB Insurance is set to launch a new TV advertising campaign, due to be previewed on Tuesday 21 February. It features the trademark Lloyds TSB black horse galloping through scenes of falling household items.
FSCS steps as insurance provider goes into administration
The Financial Services Compensation Scheme today announced it has stepped into protect customers of Drive Direct who may have lost money after the firm went into administration.
Zenith appoints Perry for claims supply initiatives
Zenith Services UK has appointed Richard Perry as claims supplier strategy manager.
AIG cuts links to Starr
American International Group (AIG) has announced that the AIG Companies have terminated the agency relationship with Starr Technical Risks Agency and its subsidiaries (Starr Tech), insurance agencies owned by C.V. Starr.
Broking alliance expands into Ireland
Broking alliance Unitas has recruited 2 new additions to its ranks: John Lampier & Son Ltd, in Bristol and Frank Glennon, in Dublin. This brings to 12, the number of members.
Brit linked with sell off
Lloyd's insurer Brit has been tipped to sell off its £20m stake in paperless trading platform Ri3k.
Aon research claims drivers woefully unprepared for bad weather
Aon’s Private Clients division, has commissioned a research report which it said shows that Britain’s motorists are woefully unprepared for driving in extreme weather conditions.
FSCS declares 30 firms in default
Please find below a list of the latest firms to be declared in default by FSCS.
HSBC merges North American D&O and E&O teams
With effect from 1st March 2006, the errors and omissions team from the North American Division of HSBC Insurance Brokers led by Tony Loizides will join the directors and officers' team under the management of Adrian Jenner.
Highway launches EDI commercial vehicle on Insurecom
Motor insurer Highway has increased the facilities available to brokers using Insurecom by both launching a full cycle EDI commercial vehicle product and adding an electronic renewal function to its existing private car product.
PXRE “exploring alternatives” as crucial 'A' rating lost
The future of PXRE looked increasingly in doubt as the catastrophe reinsurance specialist unveiled massive increases in hurricane losses, saw its financial strength rating downgraded to B++ from A- by AM Best, and said it is exploring “strategic…
RFIB ups middle east presence with Dubai office
Lloyd's broker RFIB has established a representative office at the Dubai International Financial Centre.
PBS opens London office
Primary Broker Services has established a London office to develop opportunities locally and in the South-East.
Broker sees growth in 'buy to let' insurance market
Specialist commercial schemes broker Camberford Law has reduced rates on its unoccupied property scheme by up to 30%. The Scheme which has been running almost 10 years provides the full range of covers for all types of unoccupied residential/commercial…
NU closes BSM call centre with loss of 60 jobs
Norwich Union's subsidiary driving school BSM, part of RAC, is to close its Wakefield call centre in July with the loss of 60 jobs.
Adjuster in Lloyd's insurer win
Amlin Insurance Services has added Questgates to its panel of adjusters, following a trial period during which it handled property and liability claims for the group.
Atrium hurricane losses fall
Lloyd's underwriter Atrium has announced its hurricane loss estimates have fallen £8m to £59m.
Fusion hires two for London-based claims roles
Fusion Insurance has appointed Ian Jolly and Ben Robins as claims negotiators based in London.
Converium: renewal market “less favourable than expected”
Swiss reinsurer Converium has issued a renewal statement in which it expresses general satisfaction with the renewals season, but disappointment that conditions did not live up to the most optimistic post-hurricane expectations:
AM Best gloomy on 2006 reinsurance market outlook
AM Best has extended its negative outlook for the US and Bermuda reinsurance markets for 2006.
Business Award for Atkinson Smith
Insurance brokerage and risk management firm Atkinson Smith Limited, a member of the ProAktive Risk Group, has been named Business of the Year by its local Chamber of Commerce in Doncaster. The judges commented: “Atkinson Smith is a company that has been…