News
RIMS releases compensation statement
The Risk and Insurance Management Society (RIMS) has released a statement by President Nancy Chambers, CRM, regarding industry compensation and placement practices.
Rodilosso leaves Folgate
Julie Rodilosso has left The Folgate Partnership after less than six months with the business, reports James Salmon from Insurance Age.
Homeserve sells off specialist unit
Homeserve, the domestic insurance provider, has sold its plumbing business Onsite South to its managers for £3m in cash as part of plans to focus on the home repair sector.
Goshawk: small hit from Charley
Goshawk Insurance Holdings, the parent company of Rosemont Reinsurance in Bermuda has said its inititial estimate of aggregate potential net losses relating to Hurricane Charley will be under $7m.
GE ERC announce new executives
GE's Employers Reinsurance Corporation (ERC) has announced that Tim Brophy, Joseph Cook and Paul Giacobbe have joined the company as sales executives for its Americas Direct property & casualty reinsurance unit. They will report to Jeffrey Archer, who…
Platinum Underwriters announces Charley losses
Bermuda-based Platinum Underwriters has announced that, on the basis of currently available information, it estimates that after-tax losses from Hurricane Charley, net of reinstatement premiums, will range from $20m to $35m.
Admiral reports strong first half results
Admiral Group has announced a 30.5% increase in adjusted core profit to £45.3m for the six months ended 30 June 2004.
BDMA relaunches web site
The British Damage Management Association has relaunched its website, providing advice for flood victims, a full list of qualified contractors, online event booking, education and training.
Chaucer sees motor surge as revenues up 15%
Lloyd's insurer Chaucer Holdings has recorded a 15% rise in gross written premiums for the first six months of the year with pricing "remaining strong overall". The syndicate added that forecasts for 2003 remain unchanged for all four syndicates and that…
Claims People sees profit rise
The Claims People Group has recorded an increase in profit to over £71 000 on the back of a 32% increase in revenue for the first six months of 2004.
HBOS launches women-only insurer
Halifax Bank of Scotland has launched First Alternative Woman, promising average savings of up to £130.
Liberty Mutual buys up Chilean insurer
Liberty Mutual Group (LMG) has entered the Chilean market by purchasing the insurance operations of AGF Allianz Chile. Liberty Mutual Group will rename the company Liberty Seguros, which will offer a full range of property and casualty products for…
New Chairman for IUA Committee
The International Underwriting Association (IUA) has appointed a new Chairman for its Marine Technical Committee.
Prebensen in for Avery at Wellington
Preben Prebensen will step in as chief executive at Wellington Underwriting on 20 September succeeding Julian Avery who is retiring from the board. Mr Avery announced his retirement back in March, and will continue to be available to the board until he…
JLT targets growth with new Leeds office
Jardine Lloyd Thompson has opened a new office in Leeds. It will act as a hub for for its Yorkshire, Humberside and North east operations and will see existing staff from JLT’s office in Huddersfield transferring to Leeds.
Scream and Madonna insurance failure
Edvard Munch's The Scream and Madonna which were stolen from Oslo's Forsikring museum at gun point yesterday were not insured against theft. Many of the world's famous works of art are not covered for theft due to the high cost of insurance.
Alea announces £5.5m loss from Charley
Alea Group's has said its losses from Hurricane Charley are unlikely to exceed $10m (£5.5m).
Groupama in commingling move
Groupama has said that it "is comfortable to follow " the Financial Services Authority's approach to commingling of insurer and client monies.
Converium announces external reserve review date
Following the appointment of a leading firm of consulting actuaries to conduct an external actuarial study of the Company's reserves held in respect of the Zurich and New York businesses Converium has announced that the results will be unveiled on…
Motor federation moves to settle RSA/bodyshop dispute
The Retail Motor Industry Federation (RMI) has offered to set up a meeting between anti labour-only scheme campaigners from the bodyshop sector, and a major insurer.
Partner Re adds to Charley claims estimates
PartnerRe has announced that claims relating to its exposure to Hurricane Charley are expected to be between $35 -$45m.
Warning over Appointed Representatives status
Insurers and brokers should not accept appointed representatives without conducting full due diligence, law firm Reynolds Porter Chamberlain has warned.
Hastings: no Cox bid but interest
Hastings Insurance Services has not approached Cox Insurance over any possible takeover, the company told Bloomberg News, but it would consider a bid for all or part of the Lloyd's insurer to expand its business.
Path to Success: Commercial Underwriter
Nicola Hawkesby, commercial underwriter for Allianz Cornhill Commercial, reflects on her career so far