News
RBS CEO Goodwin quiet on insurance sale as bank reports £691m loss
Royal Bank of Scotland Insurance has reported £403m opertaing profit for the first half of 2008 (2007 H1 £258m).
Moody's gives A3 IFS rating to Validus Re
Moody's Investors Service has assigned an A3 insurance financial strength (IFS) rating to Bermuda-based reinsurer Validus Re.
PB Week: Where is our summer?
What do we have to do to get some sunshine these days? We spend all autumn, winter and spring waiting for a couple of weeks of unadulterated sunshine and so far in August we have been given humid, rainy, dark, damp days – perhaps one day an insurer will…
AEGON Individual Protection new business up 16%
AEGON Scottish Equitable Individual Protection new business has risen 16% to £26 million in the first half of 2008 compared with 2007.
Risk managers may have to adjust strategy after credit crunch havoc
Insurers and reinsurers may have to adjust their risk strategy in the coming months as investment gains are unlikely to provide the buffer on which some companies have relied on for their earnings, according to Guy Carpenter.
Marsh to cut 900 jobs; MMC first half results decline
(BESTWIRE) Marsh and McLennan, the owner of brokers Marsh and Guy Carpenter, said it will lay off 900 employees as the giant broker's second-quarter profit fell by 63.3%.
Experian launches insurance reports
Experian launches business information reports designed specifically for commercial insurance companies.
RMS upgrades flood model
Risk Management Solutions has upgraded its UK inland flood model and released new Europe earthquake models.
BLD announces exclusive deals with key accounts
Motorbike claims management company BLD Group has renewed its contracts with two key accounts to become their exclusive provider of credit hire services.
Pehrson joins Aon Re Global
As revealed by Reinsurance Magazine in early July , Christer Pehrson has left his post as managing director of Guy Carpenter in New York to join Aon Re Global as executive director.
Web Connectivity announces board appointment
Insurance messaging service provider Web Connectivity has appointed Sir Richard Heygate to its board.
Hannover Re's H1 operating profit down over 14% after €130m charge
Hannover Re, the Germany-based reinsurance giant, said that first half operating profit fell by over 14% to €400.2m, down from €467.7m after taking a €130.3m writedown on securities.
Cassidy Davis hires Sims to revamp accident and health division
Cassidy Davis, Jubilee Managing agency's specialist personal lines Lloyd’s insurer, said that its revamping its accident and health division and has hired Graham Sims to lead the underwriting on the unit.
Greenlight Capital Re says Q2 net income up 57%
Cayman Islands-based Greenlight Capital Re reported second quarter net income of $33.5m for the second quarter of 2008 up from net income of $21.3m for the same period in 2007.
Allianz sees GI profit drop slightly as premium growth stalls
Allianz has reported an operating profit of 2.1bn euros and net income of 1.5bn euros for the second quarter of 2008. For the half-year its operating profit was 4 bn euros and net income 2.7bn euros.
AIG chief says "lot of work to do" after compay post $5.4bn Q2 net loss
AIG chief executive Robert Willumstad has admitted that the company has a “lot of work to do” to restore it to its former glory after it reported net losses of $5.4bn in the second quarter.
APC launches high end guesthouse product
Commercial insurance underwriting agency Anglo Pacific Consultants has launched a new high limit hotel and guesthouse product to help brokers take advantage of what it sees as the renaissance of the UK based hospitality market.
Axa slashes 500 more jobs
Axa UK is making up to 500 redundancies on top of the 120 jobs it is shedding in Ireland after reporting its interim results.
Benfield H1 pretax profits fall 5%
Benfield, the world’s fourth-biggest reinsurance broker, said that first half pretax profits fell 5% to £87.7m from £92.3m in the corresponding period of 2007.
Benfield profits down 5%
Benfield Group has reported revenue down 4% to £233m for the first six month of the year compared to the same period last year.
Willis launches North American yacht practice
Willis Group Holdings has launched a North American yacht practice within its marine Group, and appointed a practice leader and team.
THB announces new leadership of international property division
THB has appointed two senior market figures, Craig Kingaby and Steve Carr, to lead its international property division.
RSA group underwriting profit up 24%, as UK remains tough
RSA this morning reported a UK underwriting profit of £48m for the first half of 2008 (H1 2007: £51m) in what it described as its “toughest market”. It added UK premiums were up by 1% to £1.4bn, with a combined operating ratio of 96.2% (H1 2007: 96.1%).
Halifax star wins customer care award
Halifax home insurance employee Josephine Leung has scooped the latest contact centre agent of the m...