News
Scor reports 1% volume decrease and disciplined market at 1/1
European reinsurer Scor has reported a decrease of 1% in its non-life treaty reinsurance volume over the year-end renewals.
Bupa loses Irish court battle
Bupa has suffered a major blow regarding its former business in Ireland , after the European Commission dismissed its challenge of the Irish government’s risk equalisation scheme.
Lloyd's broker ESR in administration
Troubled Lloyd’s broker ESR has gone into administration following a fraud investigation into its trade credit division.
Event organisers continue to ignore cancellation insurance
Nearly two thirds (62%) of event organisers do not buy cancellation insurance for their event despite a year of unprecedented weather disruption in 2007, which led to widespread cancellation and postponements of events across the UK.
Ascot announces new appointments
Ascot Underwriting has announced new appointments within its renewable energy, Asia, and cargo teams.
MMC income more than halved in 4th quarter
Marsh and McLennan Groups has reported a sharp drop it in net income - including discontinued opertaions - for the fourth quarter of 2007 to $85m (£43m)(2006: $226m).
Crawford outlines management team for new division
Crawford and Company announced today further details regarding the formation of its global markets division.
Arch reports rock solid full-year results
Bermudian (re)insurer Arch said full-year results for 2007 showed a modest decline in overall net written premiums, but a marginally improving combined ratio, buoyed by an improving loss ratio and stronger investment income for the year. .
Hastings Direct appoints third-party claims handler
Hampshire-based claims consultancy C and S Associates has been appointed by insurer Hastings Direct to assist in the handling of its third-party claims, with a focus on personal injury.
AIG writes down $5 bn in credit default swap portfolio
AIG has been told by its auditors Pricewaterhouse Coopers that it has a “material weakness” in its financial reporting related to a fair value valuation of a credit default swap portfolio, prompting a $5bn writedown in its value.
Assurant Solutions to target retailers in 2008
Assurant Solutions, a specialist in creating, underwriting and administering niche insurance protection products, has announced a new drive to deliver insurance products including extended warranty and product protection to the retail sector.
Airmic welcomes latest EU stance on London market
Risk management representative body Airmic has welcomed what it has described an "apparent softening of the European Union Commission’s position on the London insurance market", in light of the ongoing enquiry ordered by competition commissioner Neelie…
Guy Carpenter reports solid FY results
Guy Carpenter reported solid full-year results for 2007, adding little sunshine to a very cloudy set of results for parent company Marsh & McLennan.
Ark hires new political risk underwriter
Leon Richardson has joined the team of terrorism, war and political risk underwriters at Ark Syndicate Management's Lloyd's syndicate 4020.
Disaster recovery firm shakes up UK management team
The man who helped oversee the launch of disaster recovery giant BMS CAT in the UK has left the company after a review.
Crawford names new UK CEO
Former Crawford UK and Ireland chief operating officer Benedict Burke has been named chief executive for the same region as part of senior shake up at the company.
JLT boosts real estate team
Jardine Lloyd Thompson has announced the appointment of Paul Welling as chairman of its real estate team.
ABC widens remit
LV subsidiary ABC Insurance has launched three new commercial packaged insurance products: property owners, shops, and offices and surgeries.
ABC launches three new commercial policies
ABC Insurance, part of the LV= Group, has launched three new commercial packaged insurance products: Property Owners, Shops, and Offices & Surgeries Insurance.
Post Office car insurance sales hit half a million
Post Office Financial Services has sold more than half a million car insurance policies since its launch in 2004.
Allianz seals partnership with WPS
Allianz Commercial has been appointed as sole supplier for WPS Insurance Brokers’ book of small business.
Camden fire highlights ‘denial of access’ gap
"The cost from Saturday's fire is likely to be significant, particularly as the market is likely to remain closed for the immediate future," claimed Angus Tucker, director of insurance claims solutions within Grant Thornton's forensic and investigation…
Collins to expand in Europe, MD appointed
US-based reinsurance broker Collins has announced it is to expand into Europe.
Weightmans appoints professional indemnity trio
Solicitors firm Weightmans has appointed three partners from Halliwells' professional indemnity team.