News
Catastrophe-struck Lloyd's slumps to €619m loss
Following the second costliest year for catastrophes on record for the insurance industry, Lloyd's today announced a loss of £516m (€619m) for 2011.
R&Q acquires run-off NFIL
Randall & Quilter Investment Holdings has completed the acquisition of the entire issued share capital of NFIL, a Guernsey domiciled captive insurer.
Barbon hires former Axa manager for CKW boss role
Barbon Insurance has appointed Tim Wilson to managing director of Cadogan Keelan Westall.
Riot report praises insurers for settling 90% of domestic claims, but slams police
The insurance industry's role in the 2011 riots has been largely praised by the Riots Victims and Communities Panel in its report After the Riots published today.
Lloyd's stung by £516m loss
Lloyd's has revealed a pre-tax loss of £516m in its full year results following the "second costliest year" for catastrophes in the industry.
Ageas board member and Outright founder Bright latest to join Quindell
Consultancy, software and outsourcing firm Quindell Portfolio has appointed Ageas UK board member Robert Bright to its strategy and integration advisory board.
Omnibus II faces three month delay
The plenary vote on the enabling legislation for Solvency II has been delayed by three months.
Cunningham Lindsey UK boss dismisses talk of bids from rivals
Cunningham Lindsey boss Phil McNeilage has told staff the decision by investors to cash in their majority stake is “highly unlikely” to lead to the loss adjusting giant falling into the hands of a market rival.
ABI welcomes national planning framework recommendations
The Association of British Insurers has welcomed the government's national planning framework recommendation for local authorities to follow flood risk guidance to help avoid unwise developments in flood risk areas.
Insurers face 20% VAT hike in police fees
Insurers can expect to see a 20% increase in the cost of police theft and accident reports after the tax man demanded they charge VAT that insurers cannot reclaim.
Caravanquoter insurer and broker panel expands to 19
The price comparison website has reported that an increasing number of insurers and brokers are keen to join its panel of providers.
Omega shareholders to reject Catalina offer
Omega shareholders could shun run-off business buyer Catalina Holdings' acquisition offer.
Abbey to buy law firm on ABS go-ahead
Abbey Legal managing director Chris Ward, pictured, has said the insurer will buy a stake in a law firm as soon as the Solicitors Regulation Authority gives the green light to its Alternative Business Structure application.
Aviva steps up underwriting focus with two new appointments
Aviva has recruited Hayley Robinson to the role of chief underwriting officer for personal lines, and David Dixey, previously head of liability development at Aviva, as chief underwriting officer for commercial, corporate and speciality lines.
Philippines Insurance Commissioner promotes benefits of microinsurance
The Philippines Insurance Commissioner has urged members of the public to buy microinsurance to prepare for the future.
Garwyn opens Bristol office
Liability adjuster Garwyn has opened a new operation in Bristol's Aztec West business district.
Allianz buys wind farms as part of renewables investment
German insurer Allianz has bought two recently completed wind farms in France from Nordex SE.
Liberty Mutual sponsors four athletes
Commercial lines insurer Liberty Mutual Insurance has sponsored four British athletes for the year.
Deductibles distrust blamed for Thailand's high motor premiums
A reluctance to apply deductibles may be keeping Thai motor premiums unnecessarily high, according to the country's General Insurance Association.
Nexus Underwriting sets up new Lloyd's MGA
Nexus Underwriting has launched its new Lloyd's managing general agency, Nexus Professional Risks.
Kwik-Fit's Green Insurance adds MMA to panel
The Kwik-Fit-owned Green Insurance Company has added MMA Insurance to its insurer panel.
China considers domestic shipping system to protect oil imports
China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.
Travelers starts job loss talks over re-jig
Insurer Travelers is proposing job losses after deciding to reorganise its UK underwriting and operations.
Ascot announces £12.6m loss
Lloyd's insurer Ascot Underwriting has revealed that a combined ratio hike to 104.7% (2010: 79.2%) caused a loss of £12.6m (2010: £97.1m).