News
Torus acquires Broadgate
Torus has entered into an agreement with Clal Insurance Enterprises Holdings to acquire London-based Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.
Lloyd’s announces £697m interim loss
Lloyd’s made an interim loss before tax of £697m for the six-month period ending 30 June 2011, in what is already likely to be the second most expensive year ever for insurers.
Hurricane Irene losses valued at $2.82bn
Insured industry losses resulting from Hurricane Irene have been given a final Paradex index value of $2.82bn by Risk Management Solutions.
Trade credit insurers rated as stable
Moody's has given a thumbs up to the recovering trade credit insurers that had been hit by the recession - Euler Hermes and Coface.
Novae syndicates' underwriter promoted to director
Novae Syndicates has promoted Jonathan Butcher from active underwriter to group underwriter director, with Ian Burford and Robert Forster appointed to the roles of joint active underwriters.
Biba names Homer as chairman
The British Insurance Brokers’ Association has announced that Andy Homer will become chairman of the trade association in January 2012.
Barbican to bid for Omega
Barbican Insurance has refused to comment on rumours that it will make a takeover bid for Omega.
Consumers willing to take more financial risks
Consumers have been taking more financial risks with one in 14 of those surveyed saying they consider insurance a waste of money, according to the Axa ‘Big Money Index’.
Salaries suffer with fragile economic recovery
UK companies remain cautious when it comes to their salary budgets following the financial crisis and subsequent downfalls in the UK and European economies, according to Aon Hewitt.
Lloyd's losses to exceed £1.5bn in first half year
Lloyd’s’ overall loss for the first half year could exceed £1.5bn, according to predictions by accountants Mazars.
Wholesale environmental insurance broker launched
Edia is an independent environmental insurance resource for insured, intermediary and underwriting markets located outside the US.
Ferma names next president and VP
The Federation of European Risk Management Associations (Ferma) has named Jorge Luzzi as its next president.
Lloyd's syndicate drops Saudi lawsuit
Lloyd’s syndicate Riverstone Managing Agency (3500) has dropped its $215m lawsuit against Saudi Arabia in which it planned to sue the kingdom for funding the 9/11 attacks.
Tedstone joins Giles senior management team
Giles Insurance Brokers has appointed Andy Tedstone as group development director within the senior management team, he will join Giles from Jelf on 22 September 2011.
Underwriters ignore jurisdiction "forgotten risk"
Underwriters have been criticised for failing to acknowledge the wrong jurisdiction can erode profit margins, delegates at the International Association of Engineering Insurers' conference were told.
Luzzi elected next president of Ferma
Jorge Luzzi, group risk management director for Pirelli worldwide, has been elected the next President of the Federation of European Risk Management Associations.
Defaqto publishes white paper
Following the recent gender directive ruling by the European Court of Justice, Defaqto’s white paper, published today, on how motor insurers can control risk in the young driver market, asks whether the next step could be to stop insurers structuring…
Torus acquires Broadgate
Torus has entered into an agreement with Clal Insurance Enterprises Holdings to acquire London-based Lloyd’s Syndicate 1301 and its corporate members Broadgate Underwriting Limited and Broadgate Underwriting 2010 Limited.
MPLC expands D&O panel to Aspen
Specialist liability insurer, the Medical Professional Liability Company syndicate 4000 has added Aspen Managing Agency syndicate 4711 to its directors’ and officers’ liability underwriting facility.
ABSs could drive down motor claims costs
Alternative Business Structures could be used by the sector to “revolutionise” motor claims processes, yielding savings for insurers, brokers and their customers, according to Tim Roberts, senior partner of Parabis and Eddie Longworth, managing director…
Canopius promotes Webb and Sandle
Specialist insurer Canopius has made two promotions in its marine & energy division.
Canopius promotes two in marine and energy
Canopius Group has promoted two members of its marine & energy division.
Denney O'Hara marks colleague's 40 year service
Tributes were paid to personal lines broker Judith Fryer to honour her 40 years of dedicated service to Denney O'Hara insurance.
Stable rating outlook for Dutch insurance sector
The rating outlook for the Dutch insurance sector is stable, indicating that a vast majority of Dutch insurer ratings are likely to be affirmed over the next 12-24 months.