News
Octagon offers van cover
Octagon Insurance has launched a van policy that will be sold via price comparison site Go Compare.
Bodies meet over ash
The British Insurance Brokers' Association, the Association of British Insurers, the Financial Ombudsman Service and the Financial Services Authority met on Tuesday to discuss the fallout from claims complaints arising from the volcanic ash disruption.
Aviva boss hails Q1 results as sign of revival
Aviva's UK general insurance boss has hailed its quarter one results as a sign the business has turned a corner.
Approval of Chubb's move into Lloyd's market imminent
US insurance giant Chubb is set to enter the Lloyd's market almost a decade after its failed bid to buy Hiscox. According to sources, Chubb has received conditional approval for market entry with full authorisation following a Financial Services…
NIG facing more cutsas RBSI sheds 2000
Broker-only insurer NIG could face a further rationalisation of staff and offices as part of a wider review of Royal Bank of Scotland Insurance, which will see its parent offshore for the first time.
Marsh opens network arm
The former managing director of Broker Network, Martyn Denney, has joined Marsh to head up a new network division.
Perseverance places KGM up for sale
Lloyd's motor insurer KGM has become the latest in its sector to be put up for sale.
Beazley sees significant gains in reinsurance and property in Q1
Beazley has reported a 195% increase in premiums to $438.2m in quarter one 2010 (Q1 2009: $368.9m). It added average rates decreased by 1%.
Chaucer raids Brit for PI underwriter
Chaucer Syndicates has appointed Ian Noble as professional indemnity class underwriter for Chaucer Syndicate 1084.
Business leaders welcome appointment of PM Cameron
The Forum of Private Business has given a cautious welcome to the appointment of the new Prime Minister, David Cameron, and his stated intention to form a coalition government between his party and the Liberal Democrats.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Allianz hit by high cat losses
Allianz Group has reported that its property & casualty business wrote gross premiums written of €14.0bn (Q1 2009: €13.9bn) in the first quarter of 2010.
Fortis UK CEO pleased with lot despite £1.8m Q1 net loss
Fortis UK this morning reported non-life and life premiums increased by 18.4 per cent to £234.9m (Q1 2009: £198.4m) in the first quarter of 2010.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Liberty Mutual net income soars
US insurance giant Liberty Mutual has reported net income of $315m for the three months ended March 31, 2010 an increase of $293m over the same period in 2009 despite $411m catastrophe losses in the quarter.
Harrison to lead European business
Combined Insurance has appointed Chris Harrison as executive vice president and general manager, Europe, assuming overall leadership responsibility for Combined Insurance’s European business – sales and operations.
Harrison to lead European business
Combined Insurance has appointed Chris Harrison as executive vice president and general manager, Europe, assuming overall leadership responsibility for Combined Insurance’s European business – sales and operations.
LV recruiting for over 160 staff
LV has announced it is recruiting for over 160 jobs in its general insurance business. The jobs currently being recruited for will be based in offices in Bournemouth, Croydon, Basildon, Huddersfield, Leeds and Bristol.
New Jersey targets captive and reinsurance markets
New Jersey Insurance Commissioner Tom Considine has praised new legislation that would grow the reinsurance market and create a captive insurance market in the state.
THB director resigns from board
The board of THB has announced the resignation of human resources director Corinne Bennett, as a director of the company with effect from 2 July 2010.
Fairholme increases AIG stake
Fairholme Capital Management, the investment firm run by Bruce Berkowitz, has raised its bet on the recovery of AIG by increasing holdings to 25.5 million shares, following the release of the insurance giant’s first quarter results.
Gulf spill to harden US energy rates - MarketScout
The premium and corresponding rates for all lines of commercial property and casualty business in the United States were down 4% for the month of April 2010.
Johnston Re cat bond completed
Johnston Re, the US hurricane catastrophe bond for the North Carolina Joint Underwriting Association (NCJUA) and the North Carolina Insurance Underwriting Association (NCIUA), closed on Monday at $305m.
Ironshore completes $250m debt offering
Ironshore has announced that it completed the private offering of 8.50% senior notes due 2020.