News
MMA Insurance focus on distribution
MMA Insurance has appointed Ian Josephs to the newly created role of head of distribution, in a move that recognises the key challenge of profitable distribution.
XL Insurance hires construction chief
XL Insurance has appointed Martina Geiss as senior construction underwriter for the UK and Ireland, Scandinavia and Africa region.
Markel's results "reflect difficult investing and underwriting conditions"
Markel Corporation has reported diluted net loss per share of $14.46 for the quarter ending September 30, compared to diluted net income per share of $9.26 for the third quarter of 2007.
Transactor aims to enhance coverage for brokers with new NZ office
Insurance software house Transactor Global is opening an office in Auckland, New Zealand, in a bid to provide enhanced coverage to brokers.
Willis’ networks develop expansion strategy
The Willis Commercial Network has taken on ten new members, which has boasted its total membership to 79.
Towergate agrees new covenants with banks
Andy Homer, chief executive of the Towergate Partnership, has said the broker has agreed new debt covenants with both Lloyds TSB and HBOS until the end of 2009. He did not give further details.
Hannover Re swings to Q3 loss
Hannover Re reported that its third quarter results swung to a loss this year, hammered by catastrophe losses and a dreadful investment environment.
Beazley gains momentum
Beazley Group has completed its acquisition of the entire existing share capital of Momentum Underwriting Management Limited (MUM) after it was announced in September 2007.
Property underwriter leaves AIG for Glacier
Glacier Insurance, headquartered in Liechtenstein and part of the Switzerland-based Glacier Group, has appointed former AIG underwriter Peter Hoffmann as senior underwriter for the group's property division.
Zurich tops customer satisfaction chart, according to research
CFI Group has launched its UK National Customer Satisfaction Index for home and car insurance providers.
Argo reports Q3 net loss of $8.8m
Argo, the Bermudian (re)insurer, reported a third quarter net loss of $8.8m, down from a $74.2m gain this time last year.
BIBA Launch Group Personal Accident & Business Travel Scheme
The British Insurance Brokers’ Association (BIBA) has launched the BIBA Group Personal Accident & Business Travel scheme in partnership with ACE European Group.
AIFA urges FSA to restore consumer trust
The Association of Independent Financial Advisers (AIFA) today urged the FSA to use its impending announcement on the future of retail financial services as a force for good.
Crawford releases Q3 results
Loss adjuster Crawford has reported a rise in consolidated revenues in the third quarter.
Giles boosts Welsh presence
Giles has acquired Penarth-based NG Insurance, its sixth purchase in Wales in the last 12 months.
GoinGreen announce G-Wiz Insurance
GoinGreen, the retailer of the UK’s best selling electric vehicle the Reva G-Wiz, has launched the first dedicated insurance scheme for the G-Wiz driving community in London.
XL reports Q3 net loss of $1.65-1.67bn
XL, the Bermudian (re)insurer, reported third quarter net losses of $1.65-1.67bn, hit by its previously-reported charge of $1.4bn related to the seperation of the company from its beleagured credit insurer, SCA.
Abbey Legal Protection launches redundancy package
Abbey Legal Protection is launching a new package to help company bosses and HR departments with issues they face when dealing with staff redundancies. The firm said that the ‘Abbey Redundancy Package’ would be a one-stop service for firms of all sizes,…
Flagstone Q3 net loss $186.5m; optimistic about future
Flagstone Re, the Bermudian (re)insurer, reported third quarter net losses of $186.5m, compared to a net income of $66.2m in the corresponding period last year.
Swiss Re reports Q3 304m CHF loss; suspends share buyback
Swiss Re, one of the world's largest reinsurers, reported a third quarter loss of 304m CHF (£164.3m), and added that it has suspended its 7.75bn CHF (£4.18bn) buyback programme.
Brit appoints new portfolio director of long tail business
Brit Insurance, the UK-based international general insurance and reinsurance group, said it has appointed Stephen Moss to the newly-created role of portfolio director of long tail business, with its global markets division.
Health Secretary authorises NHS Top-Ups
Patients who choose to top-up their existing care will no longer be denied treatment on the NHS, following the Secretary of State for Health’s complete adoption of the recommendations laid out in the Richards Review.
Hartford to lay off 2% of workforce
(BESTWIRE) A week after posting a $2.6bn third-quarter loss, US insurer Hartford Financial Services Group Inc. said it is laying off nearly 2% of its total work force and may cut more jobs in January.
Marshall Wooldridge acquire HNH
Leeds-based Marshall Wooldridge has acquired the entire share capital of Garforth based HNH, writes Katherine Brandon, reporter, Professional Broking.