News
Gallagher open to mega-acquisitions
The chief executive of Arthur J Gallagher (UK) has said there is 'no cap' on the size of London Market acquisitions it is seeking to make.
Agency URS launches pleasurecraft site for AIG book
Underwriting Risk Services the specialist yacht, marine trades and fine art underwriting agency, has launched Yacht-Mark.com a fully automated electronic insurance solution for personal watercraft available across Europe.
Miller made MD at Brett & Randall
Brokerbility company, Brett & Randall has appointed Andy Miller as managing director of its non-life insurance division.
Aon Global Marine launches new cargo group
Aon Global Marine has pooled its cargo market expertise and launched a Global Cargo Group (GCG).
Beazley announces solid first half results
Lloyd's (re)insurer Beazley has announced that it made a profit before tax of £28.3m in the first half of 2006, down slightly on the £35.2m it made over the same period of 2005 because of exchange rate fluctuations.
CCR hires former SCOR exec
French state reinsurer CCR has appointed Pierre-Denis Champvillard as executive vice-president, head of market operations as from 1st September 2006.
Moody’s downgrades Atlantic Mutual
Moody's Investors Service has downgraded the surplus note rating of Atlantic Mutual Insurance Company (Atlantic Mutual) to C from Caa3.
Highway revolving door keeps turning as Gibson returns
The Board of Highway Insurance Holdings has re-appointed former CEO Andrew Gibson only a year after he walked out.
Deloitte swoops for Mazars partner
Deloitte has hired Ian Sparshott, previously an insurance partner at Mazars, as a new partner in its rapidly expanding UK insurance industry team.
Groupama sells Minster business
Groupama UK has confirmed that it has agreed to sell its Minster Insurance Services subsidiaries for an undisclosed sum to The Bear Stearns Companies Inc. Contracts were exchanged on 24th August 2006 and subject to regulatory approval and due diligence,…
Ace buys Munich Re stake in Russian Re
Ace European group is to buy out Munich Re subsidiary, Ergo's stake in Russian reinsurer Russian Re. Russian Re announced that a Stock Purchase Agreement (SPA) has been signed by Ace to buy Ergo Group's 15% share in the company.
Co-op promises profit share to all members
The Co-operative Group has unveiled plans to bring a new identity to over 3,000 high street and village outlets and return to its roots by giving its customer members a share of profits across its entire family of businesses for the first time.
Premium finance provider rebrands
Premium finance specialist Singer & Friedlander Insurance Finance is to re-launch today under the new name of Kaupthing Singer & Friedlander Premium Finance. The move follows the purchase of Singer & Friedlander Group plc in July last year by major…
Wellington launches US marine reinsurance business
Wellington Underwriting Inc. the US underwriting agency of Wellington Underwriting has launched a marine reinsurance business.
Hardy makes play to buy out Names
Hardy Underwriting has applied to the Council of Lloyd's for consent to make a minority buy-out the third party capacity currently remaining on Syndicate 382.
Allianz Cornhill supports CII talent drive
Allianz Cornhill has produced a new media information pack aimed at consumer press designed to provide a taste of the career opportunities offered by the insurance industry.
New marketing boss at Axa UK
Olivier Mariée is joining Axa UK on September 1 in the newly created role of group marketing director reporting directly to the chief executive of AXA UK, Nicolas Moreau. He also becomes a member of the Axa UK executive committee.
Advent first half shapes up well
Advent Capital the specialist Lloyd’s insurer, has reported conditions in its principal lines of business are among the best experienced by the company, with profit before tax up £7.6m to £10.1m for the first half of 2006.
Employment tribunal claims rising says DAS
Sharp rises in employment tribunal claims are revealed in the latest official figures, but worse is to come, according to legal expenses insurer DAS.
SKULD merger plans prompt S&P rating probe
Standard & Poor's Ratings Services (S&P) has revised its outlook to stable from positive on Norway-based marine mutual insurer Assuranceforeningen SKULD (Gjensidig), and affirmed its 'BBB+' long-term counterparty credit and insurer financial strength…
Hiscox launches management liability cover
Hiscox Insurance Company has launched a management liability policy developed to cover the liabilities of UK companies, their directors and employees.
Solicitors anxious about proposed regulations
Solicitors have serious reservations about the new regulatory framework for the legal profession proposed in the government’s draft Legal Services Bill.
Groupama appoints partnership and affinity manager
Groupama has appointed Jeff Dunn, as its partnerships new business and strategy manager. He will report to Derek Findlayson, manager of UK business development.
US P&C market sees Q1 improvement, claims Swiss Re
The US property & casualty insurance industry’s underwriting performance in 1Q 06 improved over 1Q 05 while reported investment results were down, according to a new report by Swiss Re.