News
CCV acquires in Midlands
Following its first signing, Hertfordshire-based Moffatt Saunders in June of this year, acquisition vehicle Cullum Capital Ventures has completed the purchase of regional broker Richard V Wallis, which is based near Birmingham and controls £9m of…
Allianz buys Premierline
Allianz Cornhill has completed the purchase of Premierline, the direct seller of SME policies based in Lancaster.
Scottish Re moots outright sale as possible solution to liquidity problems
Troubled life reinsurer Scottish Re has highlighted the possibility of outright sale of the company, among other refinancing alternatives as a solution to a short-term liquidity position the firm described as “very tight”.
Hospital sector losing millions because of poor risk management
Hospitals are losing the chance to save hundreds of millions of pounds through a failure to sufficiently examine their risk management techniques, according to research by Marsh.
Keelan Westall appoints new key client leader
Hampshire broker Keelan Westall has appointed Ben Wright as manager of its key client unit.
Europe accounts for more than half of QBE's 1st half results
QBE’s European operations has accounted for more than half of the group’s gross earned premium in its first half results.
New Lloyd's syndicate launched
Sportscover has launched Syndicate 3334 at Lloyd's, which it claims is the first such syndicate to specialise in amateur sports.
Biba concerned over FSCS funding proposals
The British Insurance Brokers’ Association is concerned that new proposals from the Financial Services Authority will mean that intermediaries will pick up the tab for the failings of other sectors.
Lebanese situation puts Arab Re under review
AM Best has put the financial strength rating of B+ (Very Good) and the issuer credit rating of “bbb-” of Arab Re Lebanon under review with negative implications.
AM Best may give sidecars ratings ‘haircut’
AM Best has said that in the future it will look much more closely at the true financial benefit to reinsurers of ‘sidecar’ reinsurance arrangements
Glacier Re wins rating affirmation with $30m injection
Swiss-based reinsurer Glacier Re has announced it has secured $30m in new capital from its existing shareholders, prompting an affirmation of it’s A- rating by AM Best.
New SME underwriter set up by ex-NIG's Charles Earle
A new commercial lines insurer is to be launched and led by Charles Earle, the former managing director of NIG Commercial Lines, subject to regulatory approval.
Acturis adds more products to imarket
Broker software firm Acturis has added more products to its imarket system with Zurich and Axa.
Cobra sign 100th member
COBRA Network has announced that they have signed member number 100 following successful applications from CCS Insurance Services Limited in Woking, Surrey, Lynas Vokes (Financial Services) Limited in Holbeach, Lincolnshire and Rigton Insurance Services…
Broker launches specialist division
Broker Lucas Fettes has launched a specialist retail insurance division aimed at hardware and DIY stores, ironmongers, builders merchants and wholesalers.
Fortis reports jump in UK GWP
Fortis Insurance today reported an overall gross written premium of 335.7m pounds for the second quarter of 2006. This figure represents a 13 per cent increase in year on year growth in GWP (296.8m pounds in Q2 2005).
CBG reorganises board
The Community Broking Group has announced a number of changes to the structure of its board, as it said it would release interim results on 22 August.
Bennetts adds RSA to motorbike panel
Bennetts, the UK’s number one for bike insurance, has today announced the addition of Royal & SunAlliance to its panel of insurers.
NU pushes personal lines in the regions
Norwich Union has created the new role of personal lines underwriting consultant within its intermediary business, at four personal lines regional offices.
Gallagher Re poaches Benfield brokers for SF office
Gallagher Re has announced the appointment of two former Benfield production brokers to head up a new San Franciso office that the firm has opened. .
Lloyd’s launches Thunderbird Re Cat bond vehicle
Lloyd’s of London has confirmed that it has set up a special purpose vehicle (SPV) to help its membership issue Catastrophe bonds.
Aon opts for market leader in outsourcing switch
Aon and Xchanging have announced a partnership with an initial 10-year service contract, effective from 1 September 2006.
ProAktive joins Brokerbility
Yorkshire-based risk specialist The ProAktive Risk Group Ltd has joined the Brokerbility Group.
IIB kicks up a storm on FSA non-execs' duty
The Institute of Insurance Brokers has accused the regulator of "intercepting letters", on issues from the body and failing to pass them on to non-executive directors.