News
DTE Risk acquires David Scott Insurance
DTE Risk and Financial Management has acquired commercial insurance broker David Scott Insurance. Th...
Broker looks to raise profile after shake-up
Broker D&D Homecare is aiming to snatch the title of market leader in accident sickness and unemploy...
NU outlines next offshoring move with 150 redundancies expected
UK inurance giant Aviva today confirmed plans to increase its offshoring capacity by creating around 950 jobs offshore in 2005 to service its existing Norwich Union businesses. This builds on the 3 700 jobs Aviva has already created in India.
Gender equality on motor insurance wrong say Lords
A House of Lords EU Committee Report has called on the European Commission to re-think details of proposals designed to extend gender equality legislation to trade in goods and services.
Polaris announces sixth imarket deal
Polaris today announced it has agreed terms with Sectornet for imarket integration. This brings the number of software houses who have committed to integration to six, with deals already having been agreed with Acturis, Cheshire Data Systems, insurE-com,…
Citybond Suretravel snap up Woldcare travel book
Citybond Suretravel, a division of Citybond Holdings has bought the travel insurance book of business from Worldcare Travel Insurance Services, a division of Worldmark, a specialist travel insurance broker in Shropshire, Trading as Worldcare and Rescue…
Goshawk returns to profitability
Goshawk Insurance Holdings has announced group profit after tax of $10m after a loss of $50.9m in 2003 in its interim results to 30 June 2004.
Motor insurance drives £84m Tesco profits
Tesco Personal Finance delivered an £84m profit for the 24 Weeks ended 14 August 2004.
Government departments should take more risks
The National Audit Office wants government departments to take risks and accepts that sometimes things will go wrong, Jeremy Colman, assistant auditor general, told the Institute of Risk Management at its annual forum at Keele University.
Alea interims show underwriting profit increase
Insurer and reinsurer Alea Group has announced underwriting profit before allocated investment return increased by 108% to US $23.1 million (£12.9m) for the first half of 2004, reflecting growth in earned premiums.
S&P affirms ERC rating
Standard & Poor's has affirmed its 'A+' (strong) counterparty credit and financial strength ratings on Employers Reinsurance and affiliated insurance/reinsurance entities (collectively ERC). The outlook remains negative.
Misys steps up business continuity solution
IT solutions firm Misys has formed a partnership with Taradale Consultancies to extend the business continuity solution for brokers it launched in June this year.
Fitch withdraws Axa Direct's AA rating
Fitch Ratings has affirmed and simultaneously withdrawn Axa Direct Insurance's insurer financial strength rating 'AA'.
NIG offers IT security to partners
NIG has teamed up with IT specialist Cyber Protect to offer an IT security and business continuity consultancy service to NIG’s personal and commercial lines partner brokers.
Chairman of Lloyd’s warns businesses about security risks
Lord Levene, Chairman of Lloyd’s, outlined three ways companies need to strengthen their security against the ongoing threat of terrorism in a speech to Texas business leaders.
Towergate strikes up Coversure deal
Towergate Underwriting Group has struck a deal to supply its range of specialist insurance products to Coversure’s 84 franchise outlets.
AXA Re P&C downgraded
A.M. Best Co. has downgraded the financial strength rating of AXA Re Property and Insurance Company (AX Re P&C; New York, NY) from A- (Excellent) to B++ (Very Good). The rating outlook remains negative.
US property and casualty industry makes £5bn profit
The US property/casualty industry recorded an underwriting profit of nearly $9bn (£5bn) during the first six months of 2004, a substantial gain from the comparable period of 2003, according to a report by AM Best Co.
Chaucer interim profits rise 32%
Lloyd's insurer Chaucer Holdings has announced a record performance with profits increasing 32% to 19.8m for its interim results for the first six months to 30 June 2004
Dual Corporate Risks signs agreement with Arch Europe
Underwriting agency Dual Corporate Risks has announced a partnership with Arch Insurance Company (Europe) to underwrite SME directors and officers as well as professional indemnity risks on its behalf.
Parents claiming for joyriders' damage
Parents regularly lie in insurance claims to conceal damage caused by minors driving vehicles, according to fraud experts.
Zurich announces new loss adjuster panel
Zurich has announced a new loss adjuster process model, which the insurer believes will deliver a high quality loss adjusting service.
RAC buys out Axa
RAC has agreed to buy out Axa’s interest in RAC Financial Services and to acquire the renewal rights of Axa Direct.
SVB results take hit from provision
Lloyd's insurer SVB Holdings has announced a £117.5m loss in its 2004 interim results for the first half of 2004.