News
The Exchange launches online general insurance service for IFAs
IFA portal the Exchange is expanding the general insurance section of its Exweb portal with the launch of software company Berkeley Alexander’s quotation and transaction services for general insurance products to run alongside its existing general…
Halifax signs sponsorship deal with Five
Channel Five has secured a sponsorship deal with Halifax General Insurance to support the channel’s full range of property programmes for 2004.
Alan & Thomas acquires Abrey Beatty
Alan & Thomas Insurance Brokers have announced the acquisition of the goodwill of insurance broker Abrey Beatty.
NI potentially paying twice as much for claims says Alarm
The public sector in Northern Ireland is potentially paying twice as much as Great Britain counterparts in respect of civil claims, according to Alarm – the national forum for risk management in the public sector.
Swiss Re and Benfield embrace electronic broking platform
Benfield and Swiss Re are to use a centralised electronic messaging and routing system to standardise and streamline broking administrative processes between the two organisations. The internal platform, which was developed by Trace ISYS, integrates with…
Aquilo completes Rubicon motor acquisition and sells IT department in MBO
Claims services provider Aquilo has completed the acquisition of Rubicon's motor inspection business at the same time as its IT division finalised a management buyout.
Insurance companies told to adapt to climate changes
Businesses in the East of England have been urged to "act now" and adapt to climate change before it's too late.
Smart & Cook given £57m boost
Broker Smart and Cook today announced a £57m cash injection from venture capitalist 3i.
Combined Insurance restructures UK Health & Accident operation
Combined Insurance, the specialist provider of health and accident insurance, has announced the restructure of its UK Health & Accident operation.
Claims People turns in profit for 2003
Loss adjuster Claims People Group posted a profit of £135 000 in 2003 compared with loss a year earlier of £304 000, the company said today as it announced its results.
Airline industry enjoys 18% rate cut
The airline industry saw its lowest levels of losses in history during 2003 resulting in an average reduction of 18% in insurance rates, according to a recent report released by Aon. Terrorism however continues to be an ever-present threat to the fragile…
Willis in new HQ move
International broker Willis has announced plans to occupy a new UK headquarters in the heart of London’s insurance district.
Aon MD joins Heath
Heath Lambert has appointed former Aon managing director Mike Ellis as executive director of its major accounts group.
BIBA introduces new data protection scheme for members
The British Insurance Brokers’ Association has announced the introduction of a new Data Protection scheme for all BIBA members.
New head of sales at Insure-com
Broker software supplier, Insure-com, today announced the appointment of Peter Mroch as head of sales.
Property underwriting team moves from XL Re to Aspen Re
Aspen Insurance has added five property reinsurance specialists to Aspen Re America, within the recently formed U.S.-based property reinsurance team operating out of Rocky Hill, Connecticut.
Aviation market call for long term capacity
The aviation (re)insurance market needs a longer time perspective, according to a leading member of the aviation industry.
APIL warns over EL excuses from sole traders
Health and safety lawyers have warned the government not to excuse ‘one man band’ companies from paying employers’ liability insurance.
Annuity and Life Re finds error in Q3 2003 results
While announcing its 2003 results Annuity and Life Re has had to restate its Q3 announcement. In the third quarter the company incorrectly released approximately $3.8 million of liabilities associated with its Transamerica annuity reinsurance contract…
Barton and Benjamin team up to launch new Lloyd's brokerage
Nigel Barton, who quit Lloyd's managing agency Faraday 18 months ago after a clash of management styles, is forming a new insurance brokerage.
Lloyds TSB sees GI drop
Lloyds TSB saw its general insurance pre tax profit decrease by £33m, or 4 per cent, to £720m in 2003. This comprised a pre-tax profit of £219m (2002: £198m) from general insurance underwriting and £501m (2002: £555m) from broking activities.
Swiss Re calls for financial prudence in aviation sector
The aviation (re)insurance market could be facing a wave of insolvencies if losses continue to outpace premiums, according to the latest Swiss Re sigma report, entitled: Flight to quality - financial security in the aviation insurance market .
Weather derivatives management software improved
A new version of the Climetrix weather derivatives trading and risk management system has been launched to provide the portfolio management capabilities that are needed to participate successfully in the weather derivatives market.
Penrose blames Equitable management
The report into the near-collapse of Equitable Life has strongly criticised the former management of the company.