News
Argo expects $16-18m of pretax losses from US storms in Q2
Bermudian (re)insurer Argo Group, parent company of Heritage, is expected to report approximately $16m - 18m of pre-tax losses attributable to 15 severe US weather events for the three months ended 30 June 2008.
Heath Lambert wins £15.9bn Crossrail account
Heath Lambert Group has won a 10 year appointment as the broker for Crossrail, the new £15.9bn cross London railway project.
L&G unveils Group IP underwriting service
Legal & General has announced a new underwriting service for Group Income Protection policies. For schemes with over 50 members, the ONEderwriting system will underwrite clients only once and never again.
New broking group leaps into action with first acquisition
Synergy Plus Group, which has been established to acquire a group of insurance brokers, has successfully completed its first acquisition following the purchase of CUS Underwriting.
Equity announces two acquisitions
Equity Insurance Group has completed two further book acquisitions, transferring both personal lines and commercial accounts into its branch network.
New director of general insurance at Wesleyan
Wesleyan Assurance Society has appointed Andrew D’Arcy as drector of general insurance.
L&G provides maximum cover for Group Life
Legal & General is offering a free cover limit equal to the lifetime allowance for Group Life schemes with over 5,000 members or a premium in excess of £500,000.
Kynixa obtains international accreditation
Kynixa has claimed it is the first European rehabilitation company to gain accreditation from the Canada-based Commission for the Accreditation of Rehabilitation Facilities.
Levene meets Crist in London
Lloyd's chairman Lord Levene and governor of Florida Charlie Crist met in London on Tuesday as part of the Florida's trade and business development mission to the UK.
Schmalzriedt appointed chairman of Willis Re
Willis Re has appointed Gary Schmalzriedt as chairman with immediate effect.
Groupama unveils new claims boss
Groupama Insurances has confirmed that Phil Bird, currently non-motor and SME underwriting director at the insurer, has been appointed to the position of claims director to replace Graham Gibson. He will take up his new position on 1 October.
AA: claims motor insurance costs are spiraling
Over the three months ending June 2008 more than £20 has been added to the average quoted premium for comprehensive car insurance, which now stands at over £700, according to the AA’s quarterly British Insurance Premium Index.
Munich Re, Berkshire Hathaway to buy GAUM after EU clearance
Munich Re and Berkshire Hathaway are to buy Scor’s share of aerospace underwriter Global Aerospace Underwriting Managers (GAUM) after getting European Union clearance to do the deal.
IAG to sell Lloyd's syndicate Alba
Troubled Australian insurer IAG is to sell its Lloyd’s specialist Asian syndicate Alba.
Open GI takes training to web
Open GI has launched a new online training facility for brokers entitled eTraining, the company announced.
Blackwell Green launches art product
Blackwall Green, Heath Lambert’s specialist fine art broker, has announced the launch of a product especially for artists.
Research show insurance fraud on the up as credit crunch bites
Fraudulent insurance claims will rise as the effects of worsening economic conditions are felt and the predicted increase in unemployment approaches, according to Innovation Group.
Aon in public sector revamp
Aon is to revamp its public sector risks team under new national head, Phil Tompsett.
Heath Lambert designs product for artists
Blackwall Green, Heath Lambert’s specialist fine art broker, has launched an insurance product especially for artists.
Forensic valuation service launched for insurance professionals
Surveyors and valuers Stevens Scanlan have launched a specialist Forensic Valuation Consultancy division to provide the forensic expertise increasingly being sought after insurers, especially those involved in professional indemnity.
AIG buys out Lloyd's managing agent
AIG has acquired all of the outstanding shareholdings of Lloyd's managing agent Ascot Underwriting (Ascot) not currently owned by AIG.
Willis regains 100% control of Hungarian operation
Willis Group Holdings has acquired 100% of Willis Kft, its joint venture in Hungary, by purchasing the 20% stake of its local broker partner, Erix.
Euclidian founder to run broking start up
AIM listed THB Group today announced that James Truscott will join the board of THB’s recently created underwriting agency, Unicorn Underwriting as managing director.
Ace takes AIG director Sharpe to lead UK & Ireland casualty and major risks
Ace has appointed of Phil Sharpe as director of casualty and major risks for the UK and Ireland.