News
Guy Carpenter's White next senior casualty of job cuts - sources
Guy Carpenter’s UK energy reinsurance broking head is the latest senior casualty as part of the broker’s job cutting, Reinsurance has learned.
Integro looks to Lockton and JLT for hires
Integro has bolstered its UK practice with hires from Lockton and Jardine Lloyd Thompson.
Former First Assist chief executive joins Garwyn
Garwyn Group has appointed former First Assist Group chief executive Tim Ablett as a non executive director.
Norwich Union issues trading statement
Aviva has reported its general insurance business is on track to “meet or beat” its target group combined operating ratio of 98%.
Fortis and Keychoice extend relationship
Fortis Insurance and the Keychoice Network have extended their existing trading relationship to provide members with access to a range of commercial lines products with enhanced commissions.
Labuan boosts 2007 reinsurance premiums 40% to $919m
Malaysia’s offshore hub, the Labuan International Business and Financial Centre (IBFC) has grown its reinsurance business by 40.3% in 2007, taking $919.2m in premiums, of which 62.0% were non-Malaysian .
Arthur J Gallagher sells Asian subsidairy
Arthur J Gallagher has sold its Asian subsidiary, Arthur J Gallagher Asia to its Singapore based management.
Fortis underwrites Alliance and Leicester’s first online standalone travel product
Alliance and Leicester becomes first bank to use Fortis’ Text2Insure Web, WAP and SMS-Enabled Platform.
Fortis roll out new MNW home product
Fortis has launched House Guard Prestige, its new home insurance product for the mid-net-worth market. House Guard Prestige will be sold through the intermediary channel, specifically targeting the 1.3 million homeowners (12.5% of the market) who require…
Fortis to underwrite Alliance and Leicester travel product
Fortis has been chosen to underwrite Alliance and Leicester’s first online standalone travel insurance offering.
Insurer enters the mid-net-worth market
Fortis has launched into the mid-net-worth market with House Guard Prestige.
Consortium formed for RBSI bid say sources
A private-equity consortium is being formed to explore a bid for Royal Bank of Scotland's insurance assets, according to a report in the Financial Times.
IPC Holdings Q1 net income up; gross written premiums off 16%
IPC Holdings, the Bermudian (re)insurer, said that gross written premiums for the first three months of the year dropped 16% to $197.9 million, compared to $236.2 million in the first quarter of 2007.
British Property Federation calls for government to invest in flood defences
The British Property Federation has called for the government to take responsibility for avoiding a flooding fiasco for property owners in a letter being sent today to Sir Michael Pitt.
WR Berkley's Q1 remains flat
W. R. Berkley, the US insurer, said that first quarter net income was flat at $188m the same as it was in the first quarter of 2007. Operating income for the first quarter of 2008 fell to $153 million from $184 million for the corresponding quarter of…
Arch Capital Q1 net income drops $9.2m
Arch Capital, the Bermudian (re)insurer, said that first quarter net income fell to $189.4m from $198.6m the year before.
AIG set to announce NIG deal say sources
AIG is understood to be poised to announce the acquisition of broker-only insurer NIG in the next five days, possibly as early as tomorrow morning.
Aon UK CEO Harmer to be named as Market Reform Group chairman - sources
Aon UK chief executive Peter Harmer will be named as the new chairman of the Market Reform Group, Reinsurance understands.
Willis appoints new executive vice president
Willis Group Holdings has announced the appointment of Dorien Smithson to executive vice president, Willis Americas.
Lockton builds energy business
Lockton has appointed Peter Leahy as managing director of its energy division in London.
Chase IT appoints new business development head
Chase IT Services has appointed Andy Nightingale as head of business development.
Guy Carp senior vice-president Rich goes in round of job cuts- sources
One of Guy Carpenter’s senior vice-presidents has been named as another high-profile casualty of the reinsurance broker’s job cuts, Reinsurance understands.
Transatlantic reports solid 1Q, takes small investment write-down
Transatlantic Re has reported net premiums written for the first quarter of 2008 up 5.2% to $1,035.6m compared to $984.2m in the first quarter of 2007.
Insurers criticised for lack of cover on downloaded music
Many of the UK’s big name insurers are still not paying out for claims on the loss of downloaded music – despite the fact that digital sales now form a massive chunk of the UK’s music purchases according to financial data comparison site Moneynet.co.uk.