News
Transactor reveals growth of 24%
Transactor Global Solutions and associated companies have today announced turnover of £5.2m , an increase of 24%, and pre-tax profits for the group of £0.5 million, an increase of 18%, for March 2011.
Nexus hires ex- Zurich chief for director role
Nexus Underwriting Management, parent company and management services company to Torus Executive Risks and Nexus Financial Products has recruited Andre Ford as development director to complement its existing management team.
Allianz welcomes EU debt crisis agreement
Allianz has welcomed the European Union agreement in Brussels to solve the debt crisis in Europe.
LV fills insurance void in Exeter
LV Broker plans to pick up where Aviva and NIG left off in Exeter by doubling its commercial book of business in Devonshire over the next four years.
Swedish Lansforsakringar's ratings on negative watch
Moody's has put Swedish health insurer Lansforsakringar's 'A2' IFSR and 'A3' issuer rating on negative watch.
Marsh joins United Nations disaster partinership
Marsh has joined the United Nations Disaster Risk Reduction Private Sector Partnership to support work aimed at enhancing national and local resilience to disaster.
Axis launches liability unit in Argentina
Loss adjusting network Axis has launched a liability claims units in Argentina to provide dedicated specialist support to local carriers and the international reinsurers.
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
Aspen suffers nine month losses of $193m
Aspen Insurance Holdings reported underwriting losses of $193.8m in the first nine months of this year compared to a profit of $74.6m last year.
Insurers warned over FSA bank account consultation
Law firm Beachcroft has warned that Financial Services Authority consultation on the way packaged bank accounts are offered could provide a “significant hurdle” for insurers offering add-ons.
Ecclesiastical names MD for Ireland
Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
Ecclesiastical appoints Foley's replacement as Ireland MD
Specialist charity and heritage insurer Ecclesiastical has appointed David Lane as the new managing director for its Ireland business.
LV announces senior underwriting appointment
LV Broker has appointed Tom Maughan as a senior underwriter for its Bournemouth branch, which looks after brokers in Dorset, Hampshire, West Sussex, the Isle of Wight and the Channel Islands.
BLG to close Singapore office
Insurance law firm Barlow Lyde & Gilbert will close its office in Singapore following its merger with Clyde & Co.
Axis launches in Argentina
International loss adjuster Axis has opened a liability claims hub in Argentina.
BLG to close Singapore office
Insurance law firm Barlow Lyde & Gilbert will close its office in Singapore following its merger with Clyde & Co.
Thailand flood losses manageable for insurers
While the current flooding in Thailand is unusually severe and economically costly, the insured losses are likely to be at a manageable level and will not trigger widespread solvency problems, or undue financial strain, for the country's non-life…
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.
Extending the ELD could have damaging consequences
A proposal today by the EC for a new law to regulate safety standards for offshore oil and gas operations could have unintended consequences for the environmental liability market, according to the CEA.
Purple Partnership snaps up 60th member
The Purple Partnership has today celebrated the news that it is likely to be announcing results “ahead of expectations” by signing up its 60th member.
L&G: escape of water claims cost £730m
The L&G (Legal & General) ‘stop the drop’ campaign has underlined the fact that house insurance claims from an escape of water damage in UK homes cost the insurance industry £730m - almost double the £370m cost of burglary claims over the same period.
Trend in shrinking homes halts after more than a century
The trend for new homes to be built to a diminishing floor area halted last year, compared with those built since the turn of the twentieth century.
Rina to reach Mexico in 36 hours
Hurricane Rina is expected to hit popular tourist destination Mexico in the next 36 hours.
London market open for electronic trading with e-accounts
The London market’s ambition to alleviate administrative costs for brokers has moved a step closer with its electronic trading system e-accounts now operational.