News
M&M to sell Kroll
Marsh & McLennan is set to sell its subsidiary Kroll arm for $1.3bn (£870m), $600m less than it paid for it in 2004.
Fulwood signs up
Preston-based broker Fulwood Insurance Services, has signed up to Broker Network's new start-up proposition, launched last month.
Landau Manson renamed
Broker Alan Turner has announced that the general business of Landau Manson, which it acquired last year, will now trade under the group's main broking name of James Hallam.
ULR wins Kwik Fit contract
Legal expenses insurer ULR is poised go on a recruitment drive, having picked up a major contract with personal lines broking giant Kwik Fit Financial Services.
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign…
Hodges: no 'land grab' for Aviva
Aviva UK plans to build its capability in the commercial property owners and motor sectors after its business insurance book shrunk by £400m in 2009.
Chilean earthquake
Early estimates indicate the 8.8 magnitude earthquake off the coast of Chile on 27 February, will bring high insured losses, which will likely pressure overall profitability.
Axa Corporate growth
Axa Corporate Solutions posted a 2.3% growth in 2009 turnover on a comparable basis, reaching E1.93bn (£1.75bn), while underlying earnings were up by 17% at E133m
Novae pre-tax profit fall
Novae Group has posted a 35% fall in adjusted pre-tax profit in 2009, hurt by aviation reinsurance and credit losses in the first half of the year.
Beazley Furlonge results
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd's.
LV to recruit another 75 staff
LV's new 24-hour call centre for motor insurance customers in Hudddersfield may be expanded to household during 2010. The insurer hopes to create up to 75 jobs over the next 18 months following the opening.
AMA and Nacho confirm merger
The Accident Management Association and the National Association of Credit Hire Operators this week confirmed their merger.
QBE shakes up European arm
QBE Europe has puts its asset protection book into run-off, following a restructure of its product underwriting and distribution model.
Total 100% liable
Insurers have moved closer to recovering an estimated £750m in claims from Total, stretching back to the Buncefield oil depot explosion.
ABI slams proposal for compulsory dog cover
The Association of British Insurers has slammed government proposals to introduce compulsory third-party dog insurance in the UK.
New Hastings branch
Hastings has opened its first branch in Bexhill-on Sea.
Merlin refinancing
Claims management company Merlin has announced the completion of its refinancing deal after it was approved by investors and financial stakeholders.
Top five Post stories
The top five most popular stories on postonline.co.uk over the last week were:
UK General confirms 20 jobs are at risk
UK General has confirmed that 20 jobs are potentially at risk as a result of the restructure of its branch network.
Secret Millionaire broker will continue support
Former Protectagroup chief executive Paul Ragan has vowed to continue his support for the people he helped while starring in the Channel 4 show Secret Millionaire that first aired on Monday.
Credit card compliance low
Only 11% of UK companies, including insurers, are certified as payment card industry compliant, according to new research by Tripwire.
Bell axed in restructuring
The Third Parties (Rights Against Insurers) Bill was referred to a second reading on 9 March in the House of Commons.