News
Scor bucks 1/1 trend with “remarkable” 10% growth
French reinsurer Scor has reported an increase of approximately 10% in worldwide premium income for non-life reinsurance renewed at 1 January 2007
Norwich Union critical illness product update
Norwich Union (NU) is introducing changes to some of its protection policies which include an increase to the maximum period that cover is available on some critical illness policies and the introduction of the Association of British Insurers’ (ABI) best…
Retiring CCL founder maintains equity stake before flotation
Replacement vehicle specialist CCL UK has announced that its founder, Will Snelgrove, has now retired from the board but remains an 18% share holder.
Director appointed at Davies Liability
Investigation and claims handling specialist Davies Liability has promoted Jason Miles to the position of director.
Mapfre Asistencia opens in Jordan
Mapfre Assitencia has opened a new subsidiary in Jordan to service its assistance business in the region.
WNS appoints new marketing manager
Motor insurance claims management specialist WNS Assistance has appointed Mark Jackson as its new marketing manager.
FSA fines investment firm £10,500 for the failings of its subsidiary
The Financial Services Authority (FSA) has fined Trigon Pensions Limited (Trigon) £10,500 for failing to monitor advisers effectively at its appointed representative, Trigon Financial Services (TFS).
Hedge fund recovery boosts Max Re full-year, CFO to retire
Bermudian (re)insurer Max re has reported record net income of $216.9m for the full-year 2006, compared to $9.5m a year earlier.
Fitch gets in on ILS action
International ratings agency Fitch Ratings has set up an analytical team dedicated to ranking insurance-linked securities (ILS).
Beazley in new mid-market drive
Beazley has announced plans to begin underwriting commercial property business on an admitted basis from 19 February. The Lloyd's insurer said its aims to offer mid-sized clients service previously familiar only to the largest insurers.
European insurance boss addresses business insurance public inquiry
Gérard de La Martinière, President of CEA, the Brussels-based representative organisation for the European insurance and reinsurance industry, today participated at the European Commission’s public hearing which was held to gather reactions to the…
PXRE default cost on dead A&W Cat bond could hit $53m
In an SEC announcement troubled Bermudian Cat specialist PXRE has revealed that it could be on the hook for up tp $53.4m in termination charges for failing to pay the premiums due under retro deals with Atlantic and Western Re Limited, the Cayman vehicle…
Consolidator rebrands major acquisition
Following the merger one year ago, Reading-based corporate consultancy, Goss & Co, is rebranding to adopt the livery of parent company, Jelf Group.
Onlyinsurance.co.uk launches with 28-strong panel
Only Insurance.co.uk, a new concept in online home, motor and travel insurance, is set to radically shake up the aggregator sector when it goes live next month.
Aspen forges ahead in bumper 06
Bermudian (re)insurer Aspen has unveiled a vintage year, with net income of $378.1m for 2006 on a combined ratio of 82.4% for the group.
MMA in major EDI roll out
MMA Insurance today announced plans to develop and launch five full-cycle EDI personal lines products on Sirius, over the next twelve months.
Zurich boss retires
Zurich Financial Services today announced that after more than 25 years of dedicated service to Zurich, Peter Eckert will be retiring effective February 28, 2007.
Admiral announces major tie up
Drakefield Insurance Services has linked up with Admiral Group to provide travel insurance across a number of the Admiral brands.
Hannover Re submits claim under Eurus Cat bond
Hannover Re's Eurus Cat bond has become the third insurance securitisation to be potentially affected by windstorm Kyrill.
Hannover Re happy with renewals despite market peak
Global reinsurer Hannover Re has announced that it is happy with its showing in the 1/1 renewal season, growing its P&C top line modestly over the period.
Mapfre Re 2006 profits double on benign loss ratio
Spanish reinsurer Mapfre Re has reported net profits of €77m ($100m) for 2006, more than double the result of the previous year.
UK poultry exporters left exposed by foreign rejection
The outbreak of bird flu at a Suffolk turkey farm has triggered a trading crisis for British poultry companies who export around the world according to Aon.
Target acquires Harlosh
Harlosh has been acquired by Target Group, the financial software and services organisation operating in the consumer and commercial loan markets. The enlarged Target Group will now be one of the largest privately-owned systems and services providers in…
Endurance reports record results for 2006
Bermudian (re)insurer Endurance has announced a net income of announced a net income of $198m in the fourth quarter 2006, producing a record $498.1m for the full year.