News
EC opens antitrust investigation into insurance
The European Commission has opened formal proceedings to investigate whether certain provisions accompanying claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe European Union antitrust rules.
Mobile Doctors reports fall in profit and turnover in H1 2010
Mobile Doctors Group has reported a fall in revenue to £12.61m (2009: £14.06m) for the six months ended 31 May and profit before tax to £298 000 (2009: £667 000).
Arc Legal moves into marine legal expenses
Arc Legal Assistance is to launch a dedicated yachting and marine pleasure craft legal expenses cover and claims service.
EC opens antitrust investigation into insurance
The European Commission has opened formal proceedings to investigate whether certain provisions accompanying claim-sharing and joint-reinsurance agreements in the marine insurance sector might infringe European Union antitrust rules.
JLT adds to London Market Risks team
Jardine Lloyd Thompson has appointed Alastair Templeton to its commercial motor fleet account.
Motor giant VW unveils plan for regulated direct insurer
Volkswagen Financial Services AG has confirmed plans to operate its guarantee insurance business in future through its subsidiary Volkswagen Reinsurance AG as a direct (primary) insurer.
RBSI confirms office closures
Royal Bank of Scotland has confirmed that it will close 14 of its 27 insurance offices by 2013 with 2000 staff set to lose their jobs.
RBSI outlines plans to close 14 of 27 sites
Royal Bank of Scotland Insurance has revealed details of a mass closure of UK insurance sites that will see 2000 people lose their jobs.
Motor giant VW unveils plan for regulated direct insurer
Volkswagen Financial Services AG has confirmed plans to operate its guarantee insurance business in future through its subsidiary Volkswagen Reinsurance AG as a direct (primary) insurer.
Allianz appoints claims handling centre manager
Allianz has appointment Mark Carlyon-Smith as manager for the company’s Woking claims handling centre.
Experian appoints new head of insurance
Experian, the information services company, has appointed Sandy McPherson as head of insurance for UK and Ireland.
Weather events cause Ecclesiastical loss
Specialist insurer Ecclesiastical has attributed its pre-tax loss of £9.9m for first half of 2010 to a string of exceptional weather events.
Kiln updates Lloyd’s forecasts
R J Kiln has updated its forecasts for the 2008 and 2009 years of its mixed capacity Lloyd’s syndicates.
Brit appoints two in Glasgow
Brit Insurance has boosted boosts Glasgow operations with property & combined hires.
RBS to shed 640 Direct Line jobs
Royal Bank of Scotland is set to cut more than 600 Glasgow-based Direct Line staff, the BBC reports.
Co-op Insurance reveals new business increase of 32% in H1 2010
The Co-operative Financial Services has recorded an increased profit of £307m for the half year to 3 July 2010 - despite a drop in profit of £1.9m for its general insurance division.
RBS to shed 640 Direct Line jobs
Royal Bank of Scotland is set to cut more than 600 Glasgow-based Direct Line staff, the BBC reports.
Lloyd's insurer Chaucer H1 2010 result bolstered by £5.3m reserve releases
Chaucer has reported a profit before tax of £7m (30 June 2009: £17m) for the first six months of 2010 on gross written premiums of £493m (30 June 2009: £491m).
IAG UK reports full year loss of $355m
Insurance Australia Group today announced its UK business had recorded a loss of $355m for the year ended 30 June 2010 (FY09 $113m), a margin of minus 65.5% (FY09 15.2%).
Crawford acclaims 18:1 ROI in fraud detection
Crawford & Company is revamping its fraud investigation process in a bid to further improve its detection rate after new figures revealed it is generating a 45% increase in fraud savings for customers compared with 12 months ago.
Retail expansion key as Hiscox remains cautious
Hiscox plans to continue expanding its UK, mainland Europe and US retail businesses despite adopting a cautious outlook for the second half of 2010.
Fusion adds to underwriting team
Fusion has raided Marsh and Allianz for two new recruits to be based in Birmingham.
Ageas boosted by Asia and Belgium with €180m profit
Ageas has reported a net insurance profit of €180m for the first half of 2010, including a life contribution of €178m driven by Belgium and Asia.
Avantia enters home protect market
Avantia Insurance has launched a home protect service to the trade.