News
Insurance Christmall Ball - places selling fast
The inaugral Insurance Industry Christmas Ball has already attracted a host of companies from across the UK general insurance sector, and Incisive Media can now confirm that donations of £10 per head, along with all auction proceedings, will go to the…
Heritage hires Spiller as chairman
The board of Heritage Managing Agency, a member of Argo Group, has appointed David Spiller as its new chairman subject to receipt of Lloyd's and Financial Services Authority approval.
FSA slaps fine on motor retailers for PPI breaches
The Financial Services Authority has imposed fines totaling more than £175 000 on five motor retailers for serious breaches relating to the sale of payment protection insurance, which exposed a total of 2 175 customers to the risk of being sold…
Ace lead insurer for Madrid plane crash
Ace, the Switzerland-domicled (re)insurer, is the leader for yesterday's Madrid plane crash, in which 153 people died.
Ireland braces for heavy flood claims after storms
(BestWire) — Insurers are bracing for heavy flood claims as a result of what reinsurance broker Guy Carpenter and Co has described as extensive damage in Ireland after “intense rainfall” on 16 and 17 Aug Reinsurance Magazine reports.
Bermuda sees decline in set-up of new insurers, reinsurers
(BestWire) — Ten new insurance and reinsurance companies were established in the Bermuda market during the first quarter of 2008, which is a decline from the same period in 2007, according to the Bermuda Monetary Authority.
Florida Citzens Property Insurance hit by 140 claims from Fay since Aug 20
(BestWire) — The Florida Citizens Property Insurance Corp, Florida's state-run insurer, has received more than 140 claims since the arrival of Hurricane Fay, a spokesman said.
Pacific Life Re completes buyout of Scottish Re's Asian business
Pacific Life Re, the specialist life reinsurer, following its recent purchase by Pacific LifeCorp, the parent company of Pacific Life Insurance Company, it has concluded the purchase of the Asian business of Scottish Re Group Limited.
Randall and Quilter and Global Re create strategic run-off partnership
The UK run-off group Randall and Quilter and Global Re have created a strategic partnership for the purchase and management of non-life run-off companies in Continental Europe.
QBE reports 6% rise in half year profits
QBE Europe has recorded gross written premium of A$2.67bn for the first six months of 2008. It added the business' combined operating ratio improved to 83.6% (H1 2007: 88.4%) while insurance profit to net earned premium was 24.6% (H1 2007: 22.3%).
Amlin H1 pretax profit falls 25%
Amlin, the Lloyd's (re)insurer, reported a 25% drop in first half pretax profits.
Pick of the week
Post editor Jonathan Swift looks at the major stories from the general insurance market. This week: N...
Lycetts snaps up CFL
Countryside broker Lycetts has expanded into the City of London with the acquisition of broker Carro...
Appointment at THB
THB has appointed two senior market figures, Craig Kingaby and Steve Carr, to lead its international...
Claims division expands
Barbon subsidiary Farr has appointed Matthew Greenhalgh and Francesco Quacquarelli to the newly crea...
Sagicor releases figures
Sagicor recorded overall net income of $45.4m (£24.3m) for the six months ended 30 June 2008. Net in...
Appointment at Wesleyan
Andrew Doman has been appointed a non-executive director at Wesleyan Assurance Society. Mr Doman has...
Lloyd's hits back
Lloyd's has said that it cannot control its syndicates when it comes to doing business in Burma. A ...
B&B joins Confused
Price comparison service Confused has welcomed Alliance and Leicester to its home insurance panel an...
Appointment at Lloyd's
Lloyd's has appointed Eamonn Egan as country manager for Ireland. Mr Egan, formerly regional develop...
Second stake for Amlin
Amlin has secured its second minority stake in a broker, gaining just under 20% in Bradford-based TL...
Peart closes in on £1m
Performance car insurance broker Peart Insurance has increased its annual turnover to almost £1m as ...
Xbroker adds three
Online comparative quotation system Xbroker has expanded its panel and product range with the additi...
Munters education push
Property damage prevention, restoration and temporary humidity control specialists Munters has teame...