News
Excellent year for XL
XL had an “excellent year” in 2006 according to analysts, following its announcement of record profits.
RenRe posts record results, but 2007 prospects dwindle
Bermudian reinsurer RenaissanceRe reported record income and returns for 2006, but has tempered the good news with caution for growth prospects in 2007, citing a softening market and the impact of the Florida Government’s decision to increase its State…
Pick of the Week
Anthony Gould, editor in chief of Post Magazine provides a run down of the major stories in the UK ge...
RenRe settles SEC case for $15m
US regulator the Securities and Exchange Commission (SEC) has anounced that it has settled its finite reinsurance accounting fraud case against Bermudian reinsurer RenaissanceRe for a fine of $15m and a commitment to bring in an independent consultant to…
AXIS results beat expectations
AXIS Capital has smashed expectations with its latest results, announcing profits of $281m in the final quarter of 2006.
Partner Re smashes estimates in “tremendous” year
Bermudian (re)insurer Partner Re has posted net income of $242.7 million for the fourth quarter of 2006 and net income of $749.3 million for the full year, producing an operating return on equity of 26%.
Fears voiced over ‘free’ insurance products
Sales of insurance policies promoted with three or six month ‘free’ periods may be breaching Treating Customer Fairly (TCF) rules and are likely to come under the scrutiny of the Financial Services Authority (FSA), according to general insurance network…
'Free' periods may breach TCF rules says Ceta
Sales of insurance policies promoted with three or six month ‘free’ periods may be breaching treating customers fairly rules and are likely to come under the scrutiny of the Financial Services Authority, according to general insurance network Ceta.
Class action filed against Quanta over 2005 loss estimates
Quanta is the latest (re)insurer to face a shareholder class action relating to alleged losses arising from increases in 2005 loss reserves.
Benfield Fac appoints head of Australasia and SA
Reinsurance broker Benfield has announced the appointment of Michael Lazarus as head of its Facultative Solutions team for Australia, New Zealand and South Africa.
White appointed to Deputy chair at Lloyd's
The boss of Lloyd's names' agency Argenta has been appointed deputy chairman of Lloyd's to replace Bronek Masojada. Graham White, executive director of Argenta Private Capital was appointed today, following the end of the Hiscox chief executive's term of…
Equity wins household contract with Newbury Building Society
Newbury Building Society has selected Equity Insurance Brokers as its sole household insurance provider following a formal tender process.
Motassist launch home and family legal expenses policy
Rapidly expanding legal expense and insurance claims management provider Motassist is taking a stance in the Home and Family Legal Protection market with the launch of an ‘affordable’ home and family legal expense policy offering complete protection for…
Moorhouse in MBO move
Moorhouse Group Limited has sold its corporate division to its management for an undisclosed consideration in order to concentrate on the development of its e-trading and business cover platforms.
Claims firm secures VC funding
Drive Assist today announced a financial restructuring and substantial investment by Charterhouse, the private equity investment groups.
Belfast broker doubles book with acquisition
Belfast-based Higgins Insurance & Investments has acquired Laing Markey Lyness Ltd to become one of the province’s largest independent insurance brokers/independent financial advisors.
QBE buys Mexican insurer in Latin America push
QBE has announced the acquisition of Mexican insurer, Seguros Cumbre, subject to regulatory approvals.
L&E appoints underwriters for title insurance push
London & European, has added in-house underwriting expertise to its online legal indemnities business, titlesolv.com.
Arista opens Southampton office
The commercial lines underwriting organisation Arista has launched its office in Southampton with the appointment of a team working under the direction of regional manager Julian Holloway. The office will lead business opportunities in the south of…
Markel launches social welfare product
Markel UK, the retail division of Markel International, has launched a comprehensive social welfare insurance product.
Dual revenues top €100m
Dual International has announced record results for the financial year to September 2006 and has cited success in attracting first-time buyers as a major factor in its remarkable growth.
Former Lord Mayor of London joins Marsh UK
Marsh UK has announced that Sir David Brewer, until recently Lord Mayor of London, is to fill the newly created role of non-executive vice chairman.
New report concludes four in five claimants satisfied
The latest results of an industry-wide survey highlight that while customers expect and demand better service from their insurance provider, more than 80% of claimants are satisfied with the recent claims service that they received from their insurer and…
SME underwriting agency outlines 2007 capacity
SME insurance underwriting agency Anglo Pacific Consultants has secured £20m in underwriting capacity for its 2007 book of business.