News
AIR: China quake to produce $300m-$1bn insured losses
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses from the Chengdu earthquake are likely to exceed 2bn yuan ($300m) and could reach 7bn yuan ($1bn). The estimates cover property losses for residential, commercial, industrial and…
Air estimates insured losses from China quake to exceed $300m
Catastrophe risk modeling firm Air Worldwide estimates that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140bn ($20bn).
Big rise in theft of catalytic converters says insurer
A large increase in thefts of catalytic converters from cars has been reported by insurer yesinsurance.co.uk.
Keelan Westall announces key promotion
Keelan Westall has promoted Lisa Feaver from team leader to head of broker services.
Travelers launches new film wordings
Travelers UK has launched three new film wordings for the digital age.
Willis stands tall
Willis has unveiled its new award-winning headquarters – which at 28-storeys high is the fourth tallest skyscraper in the City of London.
Sub-prime claims still within expectations- Levene
Lloyd’s chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage disaster is still within expectations.
Swinton launches two new brands as it reports record profit
Swinton has reported a seventh consecutive year of profit growth with £48.3m (a 27% increase) on increasing gross premiums of £665.8m (up 39%) for the 12 months ended 31 December 2007.
Travelers UK launches three new film wordings for the digital age
Building upon its entry into the Media and Entertainment market last year, Travelers UK has launched three new wordings for the film industry. An advantage to the new wordings is that they cater to the significant advances made with High Definition and…
Aviva strikes £300m deal for UK and India communications
Cable and Wireless today announced it has signed a new six-year contract with Aviva, worth £300m.
CCR hails rebalancing of book
French state-backed catastrophe reinsurer CCR has unveiled 2007 results that saw it hit its target of reducing open market business to a third of its book.
Greenlight Re Q1 net loss improves 63%
Greenlight Capital Re, the Cayman Islands-registered (re)insurer, said that it had reduced net loss to $4.8m from $13.1m a year before.
Greenberg blasts AIG performance in board letter
AIG are a company in “crisis”, according to its former chief executive, Hank Greenberg.
Brit appoints Turner as active underwriter of Syndicate 2987
Brit Insurance Holdings has appointed Jonathan Turner as active underwriter of Syndicate 2987.
Businesses must face up to liability challenge warns Lloyd's
Businesses could be facing a future liability crisis if they do not face up to growing litigation issues Lloyd's warned today.
Sub-prime claims still within expectations - Lord Levene
Lloyd’s chairman Lord Levene reiterated that that claims emerging from the US sub-prime mortgage disaster is still within expectations.
Heath Lambert continues Sheffield expansion
Heath Lambert Group has moved to new premises in Sheffield to make room for further expansion.
Oval confirms Aberdeen acquisition
Oval has confirmed it has acquired Aberdeen insurance broker Independent Insurance Brokers, as reported in Post last week (Post, 8 May, p2).
Marsh appoints construction PI leader
Marsh has appointed Martin Stubbs as a senior vice president for construction professional indemnity within its financial and professional services (Finpro) practice in London.
Brit Insurance appoints active underwriter
Brit Insurance Holdings has appointed Jonathan Turner as active underwriter of Syndicate 2987.
Swiss Re and First American launch US flood model
Swiss Re has joined forces with US business information provider First American to launch a flood catastrophe model.
BIBA 2008 video - Industry leaders comment on the industry
Insurance industry leaders talked to Post's Alwynne Gwilt at this year's BIBA conference in Glasgow on their thoughts about where the industry is headed over the next 12 months - from commission disclosure to the major issues facing brokers opinions…
RMS: High number of insurance claims expected from China quake
Risk modeller RMS has said that it expects a large number of insurance claims to arise from the strong magnitude 7.8 earthquake that struck Eastern Sichuan Province, China, today 12th May.
Select and Protect enters debt management market
Select and Protect has signed an exclusive deal with free debt solutions provider Payplan to offer its customers its range of general insurance products.