News
Appointment at Aegis
Aegis London has appointed Phil Lawson as non-marine property underwriter to underwrite primarily bi...
NU warns businesses about acetylene
Businesses should be aware of the hazards of working with acetylene and the importance of risk management when using such a flammable gas, Norwich Union has warned.
This is the week that was
Anthony Gould, editor in chief of Post Magazine runs through this week’s major news including: Axe hangs over jobs as NU changes household strategy; US insurer to buy UK commercial specialist; Royal & Sun Alliance lays blame at feed of Primary as…
SCOR improves 2006 performance, unveils “dynamic lift”
French reinsurer Scor has more than doubled net income after tax to €306m in 2006, running a non-life combined ratio of 96.4% on net written premiums that grew 16% to €2.6bn.
Brokers get FSCS levy break
The Financial Services Compensation Scheme has set its initial levy for 2007/08 at £94.5m, including costs of compensation and management. This is £10m lower than the indicative levy announced when FSCS published its plan and budget in January.
IAG appoints Utley as UK CEO in broker integration move
Equity Insurance Groups' chief executive Neil Utley has been appointed group CEO of Insurance Australia Group's UK operations. He assumes overall management of Equity Insurance Group and Hastings Direct.
Biba rolls out crisis control scheme
The British Insurance Brokers' Association (Biba) has rolled out a Crisis Control scheme to its members, which it claims will allow brokers to provide added value to commercial property accounts.
Paaleads.com launches into general insurance market
Leads distributor, paaleads.com, today announces its launch into the general insurance market.
Biba launches crisis control scheme
The British Insurance Brokers’ Association, in partnership with ISS Damage Control, has today launched the new BIBA Crisis Control scheme.
Aon parades Benfield defector in new unit launch
Reinsurance broker Aon Re Global has launched a new facultative reinsurance unit, Aon Re Global Fac, headed by Elliot Richardson, former global head of facultative solutions at Benfield.
Alea accepts £162m offer from Fortress
Alea Group, the Bermuda-based insurer which was placed into run-off last year has received an offer from Fin Acquisition Limited. According to statements this morning, the Alea board accepted a £162m (93p per share) bid from the fund manager which is…
Max Re finalises US Specialty deal
Max Re's US subsidiary has announced the completion of the acquisition of a US -based excess and surplus lines company to operate under the name Max Specialty Insurance company.
Ecclesiastical moving Birmingham offices
Ecclesiastical is moving its Birmingham underwriting office to new premises in the heart of the city and is planning refurbishments at two of its other regional offices later in the year.
CSC chairman resigns
Andrew Twambley - the chairman of the Claims Standards Council the trade body for the claims management sector - has today announced his resignation.
London P&I Club celebrates improved renewal season
The London P&I Club successfully completed the P&I renewal season on February 20, 2007, having recorded an increase of nearly three million gross tons in membership during the course of the 2006/07 policy year.
Shake Up For Household Insurance Market
Private Insurance Portfolio, a specialised insurance brokerage serving the high net worth market, has launched a new household insurance product. The Premium Reward Fund invests 20% of a customer's premium over a three-year period, the proceeds of which…
Peninsula targets £19m income
Employment law firm Peninsula's broker and intermediary division has introduced £12.6m worth of business compared to £9.8m in 2005 / 2006. According to Peter Done, managing director of Peninsula the division will grow to £19m during the financial year…
HNW guru Sims to leave Chubb
Chubb Insurance has announced the departure of John Sims, European personal lines manager.
Equity acquires book from Lincoln broker
Equity Insurance Group has acquired the general book of Lincoln broker, O'Halloran & Co.
Changes at the top in Colemont aviation
Colemont Insurance Brokers has appointed Tim Liddiard as managing director of its aviation division. David Tyler, previously managing director, has been appointed executive chairman of the division.
FSA – Consumers to benefit from PPI refunds agreement
Consumers who have bought payment protection insurance (PPI) with a single premium will benefit from a series of measures relating to the fairness and transparency of refunds agreed between the Financial Services Authority (FSA) and the PPI industry.
Lloyd's Chinese start-up given equal rating
A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a” to Lloyd’s Reinsurance Company (China), which is in line with the corporation's UK rating. The outlook on the FSR is stable, and the outlook on the ICR…
Capita announces £32m CMGL buy
Capita Group has acquired London market claims outsourcing specialist CMGL from Sovereign Capital Partners for £32m.
Budget hires IT director
Budget has appointed David Matthewman as IT director, a newly created role, to head up an expanding in-house IT team to support the group’s ambitious strategic growth plans.