News
Helphire sees profits up 63%
Helphire this morning reported its pre tax profit had increased by 63% to £40.3m on turnover of £290m (up 49%) for the 12 montsh to 30th June.
Shares crash as Erinaceous postpones results
Beleagured property services and broking group has delayed the publication of its interim results.
Tawa publishes £19.5m profit for first half
Tawa Group the UK-quoted consolidator of non-life insurance run-off, has announced its interim results for the six months ending 30 June 2007.
Acquisition for Oamps
Oamps UK has today announced the acquisition of Keith Johnson & Co.
Law Commission review reaches half way stage
The Law Commission has called for more responses after it passed the half-way point in its consultation on misrepresentation, non-disclosure and breach of warranty.
SSP in line to meet performance targets
SSP held its 2007 Annual General Meeting at noon today. At the meeting David Rasche, Executive Chairman, said that SSP had made an encouraging start to the financial year and trading was in line with management expectations.
GCFac takes Benfield US facultative team leader
Guy Carpenter has announced the appointment of Joseph Vitale as senior vice president of GCFac, its dedicated facultative reinsurance unit.
Towergate buys Open International for £276m
UK SME broker aggregator Towergate has acquired broker software house Open International Limited for £276m ($550m)from Montagu Private Equity.
Towergate buys Open International for £276m
Towergate has acquired broker software house Open International Limited for £276m from Montagu Private Equity.
Maiden plans $500m IPO
Bermudian start-up reinsurer Maiden has announced plans for a $500m IPO
The Indie Trial: Charges dropped against Condon
Charges against Phillip Condon in relation to the reinsurance contracts were dramatically dropped this morning on the instruction of the judge, Mr Justice Rivlin. David Worsfold reports .
Two investors stake £10.6m in consolidator Giles
Giles Insurance Brokers has signed a deal which will see a major investment in the business by Norwich Union and Gresham, the UK mid market private equity specialist.
NIG to launch new household product
NIG will launch Advantage Plus, a new home insurance product, on 1 October. The product, offered on EDI will initially be available via SSP, Open GI and CDL, with other software systems including Acturis to follow.
NIG launches online home insurance product
NIG will launch Advantage Plus, a new home insurance product, on 1 October. The product will be offered on EDI will initially be available via Software Solutions Partners, Open GI and CDL, with other software systems including Acturis to follow.
Ariel Re to buy 47-state US insurance platform
Class of 2005 Bermudian (re)insurer Ariel has announced its intent to acquire Valiant Insurance company from Zurich North America to create a specialty property and casualty insurance ecompany.
Evolution launches lead generation product
Evolution Risk Services, part of the Evolution Underwriting Group, has launched a new bespoke lead generation product for brokers.
Heritage unveils record 1st half results
Lloyd's insurer Heritage has unveiled record 1st half 2007 interim results, producing a profit before tax up 250% to £10.5m ($21m) and a return on equity of 24%.
Close moves to reassure customers
Close Premium Finance has moved to reassure brokers that its lending facilities remain unaffected by the global credit crunch currently impacting financial markets.
Onlyinsurance partners investor portal
Aggregator Onlyinsurance.com has partnered with Interactive Investor to provide a wide range of personal insurance products and applications to the online financial services provider.
Senior executive quits UK insurance giant
Aviva today announced that Tidjane Thiam, group executive director, Aviva Europe, has decided to resign from the company.
NU launches underwriting academy
Norwich Union has launched an underwriting academy to boost employee skills and improve service levels for advisers and customers.
Munich Re completes Plantation Place move
Munich Re has moved three of the core business units of its London market non-life operations together in one location at Plantation Place in Fenchurch Street.
AIR: Wipha to cost less than $250m
Catastrophe modeller AIR Worldwide has said it estimates insured losses from Typhoon Wipha are unlikely to exceed $250m (RMB 1.85bn). The estimate covers insured losses to property and contents for onshore properties.
Brit announces regional trading floors
Brit Insurance has announced launch of ‘trading floor’ facilities in its regional underwriting offices.