News
Ironshore commences underwriting after $1bn fund raising
Bermuda reinsurance startup Ironshore has raised more than $1 billion through a private placement of its equity securities, and it will begin underwriting specialty lines of insurance immediately through its Bermuda-based insurance subsidiary, Ironshore…
Advent Re given licence to trade
Advent Re has received its class 3 reinsurer licence from the Bermuda Monetary Authority, effective 27 December 2006.
Claims firm reveals plan to raise millions
Aquilo has announced a series of interlinked proposals to effect a broad based restructuring and recapitalisation of the Company.
Chubb issues warning after Glasgow's uninsured NYE wash out
Glasgow's Hogmanay party for 25 000 people in George Square, which was called off for the first time in its 20 year history on Sunday, was uninsured.
Property reinsurance rates "falling modestly" says Willis
Willis has released its reinsurance review of the marketplace for the January 1, 2007 renewals entitled “The Tipping Point?”
Zurich signs deal with Volkswagen
Zurich has announced a new deal with Volkswagen Insurance Service (Great Britain) Limited.
Corpore wins Rehab mandate for QBE
Rehabilitation provider Corpore has been selected as one of the rehabilitation injury management providers for QBE's minor injury management service. QBE offers this service to assist its policyholders' employees who suffer an injury through an accident…
Skipton BS health business acquires Red Arc shares
The Private Health Partnership part of Skipton Building Society group, has acquired a 75 per cent shareholding in the care advisory service company, Red Arc Assured.
Equity FD role made official
Equity Insurance Group has appointed Richard Brewster as finance director with immediate effect. He has held the role on an interim basis since August 2006.
Lockton declares PI market dominance
Broker Lockton has claimed its share of the professional indemnity market for UK accountants has grown to 23 per cent of the industry.
Private money floods into new Lloyd's syndicate
Hampden Agencies the largest members’ agent at Lloyd’s, has announced that private investors provided nearly £43 million in premium income capacity in three weeks for a new Lloyd’s syndicate, £28.6 million of which was supplied by Hampden’s own investor…
Arc provides Ai with legal cost product
Arc Legal Assistance announced its appointment as legal costs insurance provider for Ai Claims Solutions. Arc will provide cover for personal injury and uninsured loss recovery claims following non-fault road traffic accidents.
CNA adds two to London team
CNA announced that John Taylor has joined the London team as UK/Ireland commercial manager - Financial Lines.
FSA launches web pages tailored for motor traders
The Financial Services Authority (FSA) has launched web pages to help motor traders understand and comply with its rules. The pages bring together all the relevant parts of the FSA website and are available on the small firms section of the FSA website:
Crawford hire points to agricultural push
Crawford & Company UK is pleased to announce the appointment of Jane Eastham as a new member of the Ariel team for the South West of England.
Linaker bought out by SBJ
Broker SBJ Group has acquired the entire issued share capital of E Nugent Linaker & Co and its subsidiaries, including Linaker (Plymouth) and Linaker (Western). Consideration for the transaction was not disclosed.
Lloyd's broker launches extended opening hours scheme
The British Insurance Brokers’ Association has launched a scheme for the late night entertainment industry to cover extended opening hours, following the Licensing Act 2003.
Jelf continues buying spree
The Jelf Group has acquired Reading based insurance broker John Wason which has a book worth £4.5m gross written premium.
Beazley buys out Santam
Lloyd's insurer Beazley this morning announced that it had acquired the entire issued share capital of Santam Corporate from Santam UK. Santam Corporate participates solely on syndicate 623 with a capacity of £19.0m.
Merry Christmas to our readers!
Professional Broking wishes our readers a merry Christmas and a happy new year!
Oak speculation; wrong end of the stick
Following the acquisition of Lloyd’s broker Somerville Insurance Services by the Lark Group, speculation has arisen that Oak Underwriting, also owned by SIS’s parent company the Somerville Group, may be for sale. However, senior management at Oak and…
CCV acquires Fenton
Acquisition vehicle Cullum Capital Vehicles has completed its seventh deal since June. The acquisition of Fenton Insurance Solutions based in Kings Lynn, Norfolk, which controls £6.5m gross written premium gives the group a total gross written premium of…
East Anglia broker joins Brokerbility
Brokerbility has expanded into East Anglia with the addition of Waveney Insurance Brokers to the group.
Local students recognised at CII ceremony
Local insurance students were presented prizes at Cheltenham and Gloucester Chartered Insurance Inst...