News
Catlin to promote "affordable" terrorism cover
Catlin Insurance Company Bermuda has developed an insurance and reinsurance product it said will provide affordable coverage for acts of nuclear, chemical, biological or radiological terrorism.
Liberty Syndicates to cut capacity by £187m
Liberty Syndicates today announced that its capacity for the 2007 underwriting year will be £725 million, down from £912 million in the 2006 underwriting year.
Brokerbility expands into North East
Following the addition of Surrey based broker Clear Insurance Management, the Brokerbility Group is expanding its operations again with the addition of Darlington-based broker BiB.
MPs highlight teenager road death stats
An early day motion has been tabled in the House of Commons, with a number of MPs expressing concern at the level of deaths among drivers aged 16-19.
IFB publishes 'crash for cash' statistics
National statistics released today by the Insurance Fraud Bureau highlight the scale of staged and induced motor accident fraud across the UK and the direct risk to public safety.
Oxygen in FI push
Oxygen Insurance Brokers is launching a new management risk practice to focus on commercial and financial institutional clients.
NFU Mutual announces £87.5m IT outsourcing contract
NFU Mutual has signed a €130m (£87.5m), ten year IT outsourcing contract with Atos Origin. The contract covers the outsourcing of all data centres and desktops to Atos Origin, with 78 jobs transferring from the insurer to the supplier.
Marsh appoints South as UK chief executive
Marsh has announced that Martin South is to fill the new role of chief executive officer of its UK operations. He will report to Alex Moczarski, CEO of Marsh, Europe Middle East and Africa.
THB sells regional retail business to Towergate.
THB Group has today completed the sale of its provincial retail operations to insurance intermediary group Towergate. The specialist insurance broker said the deal will complement investment from the group's bankers as it looks to grow the specialist…
Bermuda platform Syncro behind ICAT-Chaucer deal
It has emerged that Syncro, a Bermuda-domiciled financial platform which was established earlier this year {link}, was used for the recent transaction which saw ICAT Holdings set up a Lloyd’s syndicate for 2007 .
Higos makes tenth acquisition
Higos Insurance Services acquired Sharp Insurance of Newbury bringing the west country firm to a total of ten acquisitions in just four years.
AIRMIC publishes SME buying guide
AIRMIC has published a 28-page guide to buying business insurance. The booklet, which is illustrated with cartoons, is aimed mainly at small and medium-sized firms that lack specialist expertise in this area. Its purpose is to help firms acquire cover…
Glacier Re poaches senior underwriter from Swiss Re
European reinsurer Glacier Re has appointed Mario Ciancarelli as Senior Underwriter with immediate effect.
Arista to launch Arag legal expenses lines
Arista Insurance, the new commercial lines insurer launched earlier in the year by Charles Earle, has signed an agreement with Arag Group to provide Arista with a legal expenses insurance product.
Heritage underwriting director joins from Lloyd's Japan
Heritage Underwriting Agency has appointed James Sardeson as Underwriting Director. Mr Sardeson will join the group's board and he will also become a member of the group executive.
Equity sells to Australian giant in £570m deal
Equity Insurance Group today announced that it is to be acquired by Insurance Australia Group for a total consideration of £570 million, the deal is subject to regulatory approval.
Zenith appoints group HR manager
Zenith Services UK has appointed Susan McGuire as group HR general manager.
Jelf buys in Plymouth
Bristol-based the Jelf Group has acquired independent commercial insurance brokerage Haines Wallace. The deal is expected to add £4.5m to the group’s premium income.
AWAC gets box at Lloyd’s
Bermudian (re)insurer Allied World Assurance Company (AWAC) has opened a box on the second gallery of the at Lloyd’s building.
Benfield in bumper $19.5m Lancashire pay-day
Reinsurance broker Benfield has pocketed $19.5m from the sale of warrants in class of 2005 Bermudian start-up (re)insurer
Aspen in $156m share buyback, as founders lighten holdings
Bermudian (re)insurer Aspen has announced it will by back $156m-worth of its ordinary shares from two of its founding shareholders, the Blackstone Group and CSFB Private Equity.
Claims management regulation website launched
The new regulatory body for the claims management sector, headed by Mark Boleat, is now live. Go to http://www.claimsregulation.gov.uk/ now to apply for authorisation via the Department for Constitutional Affairs.
Ace: Environmental warning
Ace European Group has warned that UK businesses are exposing themselves to unnecessary environmental liability risks. The insurer said too many companies continued to view specialist insurance products as too expensive and overly complicated; and had a…
Wilbur Ross strikes major Lloyd's deal
Hiscox today announced that in order to take advantage of strong underwriting opportunities, Hiscox Syndicate 33 has entered into a Quota Share reinsurance arrangement with Panther Re Bermuda, the $360m Bermuda reinsurance company newly formed by WL Ross…