News
Broker Network value soars on approach
Broker Network share price has jumped almost 10% today following news it has had a bid approach.
Axiom appoints CEO
Run off consultancy Axiom has hired Tim Riddell as its chief executive officer with effect from 1st December 2007. He is currently managing director of Axiom’s Financial Reporting Services Team having joined from Argenta Syndicate Management Limited in…
Towergate refuses to comment on Broker Network speculation
A spokesman for Towergate told Post that the consolidator would not comment on the latest speculation regarding a possible acquisition of Broker Network.
NIG fears uninsured SME technology risk explosion
The UK’s broadband explosion is having a major impact on the behaviour of the country’s SMEs but large numbers are failing to manage the risks this new reliance on technology creates.
Hiscox cancels pioneering Panther sidecar
Lloyd's and Bermuda specialit (re)insurer Hiscox has revealed that Panther and its Lloyd's Syndicate 33 have agreed that the quota share deal between Panther Re and Syndicate 33 covering the 2007 year of account will not be renewed for 2008.
Broker Network confirms bid approach. Towergate and Axa in the frame
Broker Network's share price has risen 3.9% (18.50 pence) so far this morning after confirming it had had a bid approach. Among the companies linked with the company are Axa and Towergate.
Typhoon Krosa losses swell up to $600m says AIR
Typhoon Krosa has caused up to $600m in insured losses across Taiwan and China, according to catastrophe risk modelling company AIR Worldwide.
Jury considers its verdict
After three weeks of summing up, the jury in the trial of Independent’s former directors has now been sent to consider its verdict.
FSA finds improvements in risk-management
The Financial Services Authority has found major improvements in risk-management by the insurance industry.
Former Lloyd's CEO takes insurer board role
Ironshore today announced that Ronald A. Sandler has been elected to its board of directors.
Capita launches new operation
Teceris has launched a new claims management operation to service both UK and international corporate clients.
Claims firm completes MBO
Stanmore-based Medicals Direct Group has been bought from its US parent by a management team led by MDG chief executive officer Mike Benton.
Aon floats flood pool arrangement idea
A senior broker at Aon has poured scorn on the UK government's promise to review its decision on funding for flood defences. Bill Gloyn, chairman of European real estate at Aon, suggested the creation of a pooled fund to cover future catastrophes.
RSA reminds Westminster of flood defence urgency
Royal and Sun Alliance has added its voice to the calls for further review of the funding for flood defences. The insurer's property development manager, Alan Gairns said: "We are very disappointed that the £800m earmarked for flood risk management will…
Broker banned from trading
An insurance broker has been stopped from conducting regulated activities by the Financial Services Authority (FSA) after two brokers reported that he had left clients uninsured.
Aspen enters global excess casualty with Patten hire
Aspen has announced it is entering the global excess casualty insurance market and is establishing a dedicated underwriting unit based in Dublin.
Hiscox launches combined war, terrorism and political violence cover
As the lines separating events of war, terrorism and political violence become increasingly blurred, Hiscox has responded by launching a combined insurance policy to protect companies against the individual or combined effects of all three.
Fortis CEO hails opportunities afforded by UK acquisition
Fortis has acquired a majority share in Insuretech Systems, an internet software development company focusing on web aggregator technology for the insurance market.
Hiscox launches three in one terror cover
As the lines separating events of war, terrorism and political violence become increasingly blurred, Hiscox,has responded by launching a combined insurance policy to protect companies against the individual or combined effects of all three.
Tesco Compare innovator joins broker
Fortis broking subsidiary OutRight has appointed Geoff Carter as managing director.
Open GI set to launch product push
Open GI has appointed Jes Westerman as head of insurer software development to expand its range of products available to brokers.
Post Magazine in award treble
Post Magazine was again truimphant at the Association of British Insurers Financial Media Awards last night with two of its journalists winning awards. The night was also capped by former Post editor David Worsfold winning the lifetime achievement award.
RAA backs Florida Cat Fund proposal
The Reinsurance Association of America (RAA) has backed a proposal by a senior government officer in Florida it says could reduce the potential for future catastrophe fund assessments on Florida’s insurance consumers.
Benfield to buy Canadian oil and gas specialist
Benfield has announced it has entered into an agreement to buy the businesses of Beaufort International Insurance Inc. (BIII) and Beaufort Insurance Services Inc. (BISI) from Beaufort Group.