News
Moat vows to return aggregator to profit after £1 buy
Fairpoint Group chief executive Chris Moat has vowed to return Money Extra to profit by the end of the year, after acquiring the troubled aggregator for just £1.
Government accused of 'self interest' over Jackson
Legal expenses insurers have accused the government of serving its own interests following its decision to discuss the implementation of the Jackson Review this autumn.
Lewis leaves Jubilee
Jubilee's group finance director, Kate Lewis, has resigned from the Lloyd's syndicate.
QBE adopts dollar
QBE has decided to adopt a US dollar presentation currency for 2010 onwards
Bridle buys SIS
Bridle Insurance has completed the acquisition of Southampton Insurance Services for a six figure sum.
Top five Post stories
The five most popular stories at postonline.co.uk over the past seven days were:
Insurers concerned over double regulatory burden
The lack of detail concerning the regulation of the Lloyd's market could mean insurers there have more influence than others over the eventual shape of their replacement regime for the Financial Services Authority.
Ageas agreement
Ageas has reached an agreement with BNP Paribas Assurance on the sale of its pension and life activities in Turkey.
MD role for Mycock
Autoglass has appointed Matthew Mycock as its new managing director.
CEA submits statement
The CEA has submitted a written statement to the US House of Representatives Subcommittee to express its concerns over proposals to change the US tax treatment of reinsurance between affiliated entities.
Evans linked with Axa UK
The former chief executive of Axa Life Paul Evans has been linked with the same role at Axa UK, replacing current incumbent Nicolas Moreau, who took over from Dennis Holt in June 2006.
NIG looks to exit personal lines after sale ruled out
Royal Bank of Scotland Insurance has unveiled a plan to close its loss-making NIG personal lines business after ruling out a trade sale as "unviable" in the current market.
Aviva: millions saved by 'ghost broker' clampdown
A clampdown on the fraudulent activities of so-called 'ghost brokers' has saved Aviva "several million pounds" in dubious motor claims, Post can reveal this week.
Brit cuts UK private motor book by 60% as it reports £72.8m profit
Brit Insurance this morning reported that profit before tax excluding the effect of foreign exchange on non-monetary items increased by 12.2% to £72.8m for the first six months of 2010 (30 June 2009: £64.9m). It recorded a profit before tax of £77.5m (30…
Brit opens books to PE house as Apollo ups bid to £10.75 a share
Brit Insurance today confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
Aegon downgraded by Fitch
Ratings agency Fitch has downgraded Aegon’s long term issuer default rating from A+ to A.
Marsh appoints new claims leader
Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.
Aegon downgraded by Fitch
Ratings agency Fitch has downgraded Aegon’s long term issuer default rating from A+ to A.
Marsh appoints new claims leader
Marsh has appointed Martin Clark as its global energy practice claims leader. Based in London, Mr Clark will have overall responsibility for managing the claims of Marsh’s energy clients worldwide.
NIG set to exit personal lines
Royal Bank of Scotland insurer NIG has outlined plans to close its personal lines division and focus solely on commercial business.
Transatlantic Holdings records fall in income
Transatlantic Holdings has recorded a second quarter net income of $111m, or $1.70 per common share (diluted), compared to $112m, or $1.68 per common share (diluted), for the same quarter last year. It saw a $14m hit from the Deepwater Horizon explosion.
Arch sees income rise $85m
Arch has recorded net income of $237m, or $4.45 per share for the second quarter of this year, compared to $152.1m, or $2.43 per share for the same period last year.
Montpelier Q2 net written premiums up 7%
Reinsurer Montpelier claims that premium growth in the last quarter has been driven by its Lloyd's and US operations, particularly its marine book.
Reinsurance Group of America Q2 premiums rise 15%
For the second quarter of this year consolidated net premiums at the Reinsurance Group of America increased 15%, to $1,582m.