News
Aggregator trade body joins forces with ABI
The Comparison Consortium, the trade body established earlier this year to regulate and represent the online price comparison industry, is to work with the Association of British Insurers to develop a code of practice for online insurance aggregators.
Insurance industry’s ability to navigate recession depends on investment
The top risks faced by the insurance industry as all connected to the fall-out from the credit crunch, and its impact on the strength and profitability of the insurance industry, according to a survey from PricewaterhouseCoopers.
Allstate subsidiary stopping Florida coverage
(BESTWIRE) - Encompass Floridian Insurance Co., a member of Allstate Insurance Group, is sending letters to policyholders informing them that the insurer is pulling out of the property insurance market in Florida.
New members boost OurNetwork broker offering
OurNetwork has added legal expenses, premium finance and commercial retailers' combined to the growing range of products available to its independent broker members.
Our Network adds new panel members and products
OurNetwork has added legal expenses, premium finance and commercial retailers' combined to the range of products available to its members.
Chaucer says right issues taken up
Chaucer, the Lloyd's (re)insurer, said that its rights issue has been taken up.
Health Assured offers new EAP product range
Health Assured, a new health services provider, launched a product range to help British corporations offer improved benefits to their employees and save money in the current economy.
Towergate appoints care home MD
Towergate Partnership has appointed Sue Lee as managing director of New Malden-based care home insurance broker Towergate Patrick.
Renaissance Re replaces new chief risk officer
RenaissanceRe, the Bermudian (re)insurer, said it has promoted senior vice president Ian Branagan to the position of chief risk officer, effective immediately. In his new role, Mr. Branagan will also join the company's Executive Management Committee.
Close Brothers appoints new chief executive
Close Brothers Group, the parent company of premium finance provider Close Premium Finance has appointed Preben Prebensen as its new chief executive. Mr Prebensen joins the company from Catlin Group where he left the company well placed in its markets…
Equity Red Star establishes Bristol presence
Equity Red Star is further expanding its regional presence with the opening of a new office in Bristol.
Chubb launches new pension scheme liability insurance
Chubb Insurance has launched a new pension scheme and benefit plan liability policy in response to the increasing obligations being placed on trustees and the rising risks they face.
Glacier Group Chief Underwriting officer gets new role
Glacier Group, the European insurer and reinsurer operating as Glacier Re and Glacier Insurance said that it would be restructuring to "take advantage of favourable underwriting conditions through its network of global offices."
Aviva off 3% as FTSE continues fall
Aviva. the UK insurance giant, saw its shares off 3% as the FTSE continued to fall on Friday.
Investment losses hit Odyssey Re FY profits
Odyssey Re, the US (re)insurer said that full year net income fell narrowly to $543.1 m, compared to $587.2 m, for the year ended December 31, 2007.
Former Swiss Re IT head hired for Acord post
Juergen Heck, formerly Head of Global IT Operations for Swiss Re has joined Acord as its program director for Europe for the next several months.
Axa full year profit drops over 80%
French insurer Axa Group said its 2008 net profit fell 83% on negative mark-to-market investment results and related losses.
Cunningham Lindsey launches apprenticeship scheme
Cunningham Lindsey UK is investing in the training and development of its staff with the launch of two apprenticeship schemes.
Australia fire claims mount
(BESTWIRE) - This month's Victoria bushfires and north Queensland flooding contributed heavily to mounting claims costs of Australian insurers, with estimated claims of A$500m (US$323.7m) for the bushfires and A$150m for the flooding.
Catastrophes send Advent to loss
A wave of natural catastrophes as well as two major US hurricanes sent Lloyd's reinsurer Advent diving to a net loss for the 2008 full year, the company said in a statement.
Winter storm Klaus losses upped to €500m- €1bn - AIR
Catastrophe risk modeling firm AIR Worldwide said that it has upped its insured loss estimates for insured property losses for winter storm Klaus across France, to €500m - 1bn.
Scor closes $200m Cat bond
French (re)insurer Scor said it has closed the three series of its "Atlas V" catastrophe bond, the first "cat bond" issued worldwide in six months.
Platinum Re's FY net income declines
Bermudian reinsurer Platinum Re said that full year net income dropped to $226.2m from $356.9m a year earier.
Swiss Re to cut bonus pool by 50%
Swiss Re is to cut its bonus pool by 50% after the Swiss reinsurer battled heavy investment and catastrophe losses during 2008, Reinsurance has learned.