News
Co-op posts 48% profit boost
Co-operative Insurance has announced profits of £31.1m for 2010, up 48% on 2009.
Hiscox Japan losses could reach $150m
Hiscox has estimated exposure of up to $150m (£93.4m) for the earthquake and tsunami which struck Japan last month.
Lloyd’s profits dip after catastrophes
Insurance market Lloyd’s has posted profits of £2.2bn for 2010 – down more than £1.5bn on the sum for 2009.
Omega rating under review over exposure management concerns
AM Best has placed the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of Omega Specialty Insurance (Bermuda) and the ICR of “bbb” of Omega Insurance Holdings under review with negative implications.
Brit Insurance appoints new non-exec
Brit Insurance Holdings has nominated Hans–Peter Gerhardt as a non-executive director.
Brokers await Bribery Act guidance
The Ministry of Justice’s final guidance on what companies will need to do to comply with the Bribery Act, is set to be released tomorrow.
Horwich Farrelly backs “radical” Jackson reforms
Insurance litigation law firm Horwich Farrelly has backed the Ministry of Justice’s plans to implement the Jackson Review.
Mass “disappointed” with Jackson review implementation
The Motor Accident Solicitors Society has responded to the ministers statement on the government’s proposals for reform of Civil Litigation Funding and Costs in England & Wales.
Former Lloyds insurance boss to become Royal London CEO
Royal London,the mutual life and pensions company, today announced the appointment of Phil Loney as group chief executive.
ABI wants referral fee ban to be next on Government to do list
Today’s Government announcement on civil litigation reform will put the brake on runaway legal costs and mean a better deal for genuine claimants and insurance customers, according to the Association of British Insurers.
Ingosstrakh responds to PPF alleged fraud developments
Mikhail Volkov, deputy chairman of the board of directors at OJSC Ingosstrakh has responded in a statement to the ongoing PPF fraud case.
Court upholds arrest of accused PPF $15m fraudster
The Moscow City Court has upheld the arrest of Yekaterina Alabuzhina, accused of defrauding Мartin Schaffer, a representative of the PPF Group, of $15m, the court's press office told the Russian Agency for Legal and Court Information.
Portuguese broker MDS targets Spain
Portuguese retail broking giant MDS has confirmed expansion plans for Spain.
Junction expands affinity footprint with NFU Mutual deal
BGL affinity arm Junction has launched a new personal accident cover product for customers of its partners.
Ingosstrakh responds to PPF alleged fraud developments
Mikhail Volkov, deputy chairman of the board of directors at OJSC Ingosstrakh has responded in a statement to the ongoing PPF fraud case.
Court upholds arrest of accused PPF $15m fraudster
The Moscow City Court has upheld the arrest of Yekaterina Alabuzhina, accused of defrauding Мartin Schaffer, a representative of the PPF Group, of $15m, the court's press office told the Russian Agency for Legal and Court Information.
Canopius acquires K Drewe and Look
The largest privately owned Lloyd’s company, Canopius, has acquired the businesses of K Drewe Insurance Brokers Limited and Look Insurance Services Limited.
Portuguese broker MDS targets Spain
Portuguese retail broking giant MDS has confirmed expansion plans for Spain.
Oval backs Olympic hopeful
Oval is to sponsor Tom Allen, an 18 year-old Olympic swimming hopeful from Wales.
Reforms to civil litigation costs will block road to justice
Ken Clarke’s announcement today that the Government will press ahead with reforms to the civil litigation system has been met with disbelief and serious concerns.
JLT predicts construction growth in the Nordic region
JLT Specialty Limited predicts construction growth in the Nordic region over the next three years supporting a recent report from Veidekke, one of the Nordic Region's largest contractors.
JLT predicts construction growth in the Nordic region
JLT Specialty Limited predicts construction growth in the Nordic region over the next three years supporting a recent report from Veidekke, one of the Nordic Region's largest contractors.
Fitch upgrades Italian insurance market
Fitch Ratings has revised the rating outlook for the Italian non-life insurance market to stable from negative, on the grounds of improving profitability driven by premium rises and better risk selection.
Axa hires Stewart as commercial director
Axa has hired Alasdair Stewart, formerly of the Chartered Insurance Institute (pictured right), to the position of commercial director.