News
PwC predicts “mixed reaction” to IASB draft
Accounting firm PricewaterhouseCoopers has predicted that the insurance industry will be divided on International Accounting Standards Board plans for a single International Financial Reporting Standard.
Lloyd's: East London sees ‘extreme weather’ increase
A new Lloyd’s of London has discovered East London has experienced a tenfold increase in extreme daily rainfall since 1960, and warning that the closure of meteorological stations is resulting in incomplete data, impairing future analysis.
IASB proposes single insurance financial reporting standards
The International Accounting Standards Board has recommended a single International Financial Reporting Standard for all insurers in all jurisdictions.
"Business as usual" at Quinn
A court heard the latest report from the joint administrators of Quinn Insurance that it is "business as usual" while they continue to retain merchant bankers to advise them on any prospective sale of the group, reported the Irish Independent.
CHO Helphire boss Richard Rose hails "significant" turnaround
Credit hire firm Helphire today said it expects its results for the year ended 30 June 2010 to show a strong recovery in performance as a result of the plan and to be in line with expectations.
PwC predicts “mixed reaction” to IASB draft
Accounting firm PricewaterhouseCoopers has predicted that the insurance industry will be divided on International Accounting Standards Board plans for a single International Financial Reporting Standard.
Broker JLT boss Dominic Burke hails Australasia arm as revenue and profits rise
Jardine Lloyd Thompson this morning reported a 21% rise in revenue to £377.8 (H1 2009: £313.0) and an underlying trading profit of £70.7 (H1 2009 £57.8m) up 22%.
IASB proposes single insurance financial reporting standards
The International Accounting Standards Board has recommended a single International Financial Reporting Standard for all insurers in all jurisdictions.
Broker JLT boss Dominic Burke hails Australasia arm as revenue and profits rise
Jardine Lloyd Thompson this morning reported a 21% rise in revenue to £377.8 (H1 2009: £313.0) and an underlying trading profit of £70.7 (H1 2009 £57.8m) up 22%.
DAS lands Paymentshield account
Legal expenses firm DAS has been appointed by Paymentshield to provide its landlords protection policy to its Letting Agents Solutions scheme.
Investment in flood defences must be a government priority
The Association of British Insurers who has warned today that as climate change increases flood risk, the coalition government must make investment in flood defences a priority despite the squeeze on spending.
FSA manager joins KPMG
KPMG in the UK has recruited Paul Brenchley from the FSA as a director in its insurance risk team within the risk and compliance advisory practice.
Lorega launches ATE claims service
Lorega has launched an after the event claims preparation, mitigation and negotiation service.
FSA manager joins KPMG
KPMG in the UK has recruited Paul Brenchley from the FSA as a director in its insurance risk team within the risk and compliance advisory practice.
Contingent commissions a “conflict of interest” for brokers – Greenberg
Contingent commissions, the once- banned payments that insurers pay to entice brokers, create a conflict of interest and ought not to become prevalent again, Ace CEO Evan Greenberg has said.
Aspen profits hold steady in Q2
Aspen today reported net income after tax for the second quarter of 2010 of $108.9m and operating earnings of $1.23 per diluted ordinary share. This compares to net income after tax of $110.4m and operating earnings of $1.14 per diluted share for the…
APC launches office product for Irish broker market
Commercial insurance underwriting agency APC has launched a new office product specifically designed to cover Ireland’s traditional and home based businesses.
Axis Claims Pro launches TPA team
SCM Insurance Services company Axis Claims Pro is set to create a third party administration unit.
Everest Re Q2 profits drop as CEO announces retirement
Everest Re reported second quarter 2010 after-tax operating income, which excludes net realized capital gains and losses, of $184.8m, or $3.18 per diluted common share, compared to after-tax operating income of $256.2m, or $4.16 per diluted common share,…
Scor reports Q2 surge in net income but first half results down
Scor records a net half-year income of EUR 156m, compared to EUR 184m in 2009. Net income of EUR 120m in Q2 compared to EUR 91m in the second quarter 2009.
Competition Commission launches PPI consultation
The Competition Commission has unveiled a consultation paper on the way retail payment protection insurance is sold.
Claims outsourcing firm sees losses narrow in first half of 2010
Resources in Insurance Group, a provider of claims management and consultancy solutions to the UK insurance profession, this morning said revenue increased by 35% to £925 146 (2009: £687 805) for the first six months of 2010.
Outgoing IAG UK boss Neil Utley backs £74m buyout
KBC Group and KBC Peel Hunt have reached agreement over a buy-out of KBC Peel Hunt for a total consideration of £74m.
Scor reports Q2 surge in net income but first half results down
Scor records a net half-year income of EUR 156m, compared to EUR 184m in 2009. Net income of EUR 120m in Q2 compared to EUR 91m in the second quarter 2009.