News
Aspen hit by reserve strengthening in financial and professional lines
Aspen has announced that its insurance segment recoirded an underwriting loss for the third quarter, which excludes investment income, of $13.4m £8.5m) compared with an underwriting profit of $20.9m in the third quarter of 2009.
Willis Group nine month profit remains static at $357m
Willis Group has reported net income from continuing operations for the nine months ended September 30, 2010 was $357m ($226.4m), compared with $357m, in the same period a year ago.
MIB to appeal to the Supreme Court over Spanish unisured driving case
The Motor Insurers' Bureau is to challenge a Court of Appeal ruling that Russell Jones & Walker claims now asserts that a person resident in the UK, but wrongfully injured in another EEA state, will recover damages on the same basis as a person resident…
Lloyd's Name's hidden gold
A former Lloyd's underwriter has had more than £1m worth of gold and cash seized by the New Zealand courts to pay for debts incurred almost 20 years ago.
Niche business in favour as Banga expands role
Brit's new head of UK distribution Vivek Banga has revealed the insurer will aim to write more niche business as it looks to expand its UK broker footprint.
Hiscox offers charities cover
Hiscox has launched a combined charities insurance product designed to take advantage of what it describes as a "gap in the market."
Career path & CSR: Barbon staff graduate with CMI diploma
Broker Barbon's 15 Big Management Programme employees have graduated, gaining their Chartered Management Institute diploma in management.
Former PWS boss gets 21 months for Costa Rica bribes
The Serious Fraud Office has welcomed the "appropriate" 21-month prison sentence handed to former PWS International chief executive Julian Messent.
Industry-funded RTA portal will survive MoJ budget cuts
Cuts to the Ministry of Justice's budget as part of the coalition government's comprehensive spending review are unlikely to have a material impact on the insurance industry, it has been claimed.
Sagicor eyes SME after Josephs hire
Barbados-based insurer Sagicor is targeting growth in the UK's SME space after recruiting MMA Insurance's former head of distribution Ian Josephs to launch a range of web-based products.
Agrical bolsters building claims service with hire of Gent
Yorkshire-based loss adjuster Agrical has hired Martin Gent to oversee its surveying services and building losses arm.
Drennan raises Alarm over local council cuts
Risk management should no longer be simply seen as a "little silo" within local authorities, according to a senior public sector representative.
Insurers accused of claim refusals over technicalities
More insurers are attempting to ease the financial burden of the economic downturn by repudiating claims on technical points, a specialist loss adjuster has claimed.
Keelan Westall adds more ex-Power Place know how
Property insurance broker Keelan Westall has expanded its senior team with the appointment of another former Power Place manager.
Career path & CSR: Customer focus key to Westfield win
Westfield Health has won the north of England business excellence award to place it among the UK's most outstanding businesses.
IUA and ABI to review rehabilitation code
The International Underwriting Association and the Association of British Insurers are set to consider extending the rehabilitation code beyond the immediate needs assessment as part of a new review of the guidelines.
Co-op mulls life book disposal but holds onto GI business
The Co-operative Group is keen to hold onto its general insurance book, despite moves to offload its life insurance portfolio, according to sources close to the business.
IAG UK swoops to double size of Barnett & Barnett
IAG UK-owned broker Barnett & Barnett has almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.
Paraline considers acquisitions and hires following launch
New Lloyd's venture Paraline has pledged to expand its geographical reach and range of products following its official launch last week.
Cooke joins Advanta to head new energy team
Former Cunningham Lindsey engineering director Geoff Cooke has joined loss adjuster Advanta Global Services to head up its new energy team.
Amlin and JLT team up on health food cover
JLT has joined forces with Amlin UK to launch an insurance scheme for producers, importers and retailers within the health food sector.
Editor's comment: Flood battle lines drawn
If there were three words you could not escape last week, it was "government spending review". Well, I concede "Wayne Rooney" and "greed" may have been equally prominent, but it is unknown what impact the Manchester United number 10's increased wealth…
VFM tries different tack by appointing no replacement MD
VFM Services will not replace its outgoing managing director Nick Sugden when he retires at the end of the year.
Zurich director: Lord Young report needs further discussions
The insurance industry needs to work with Lord Young of Graffham to make sure his proposed health & safety code of practice is not too complex and prescriptive, according to a senior insurance figure.