News
Integro takes senior broker Blick from GC Fac
Global broker Integro has taken on senior facultative broker Ian Blick from Guy Carpenter.
Fusion founders Pallett and Crisp quit
Towergate-owned Fusion founders Kevin Pallett and Geoff Crisp have left the business.
Confused adds new partner to home panel
Confused.com has confirmed the addition of bullseyeinsurance.co.uk, to its list of insurers for home insurance.
MIB picks new service provider
Argent Rehabilitation, part of the Parabis Group, has announced it will work with the Motor Insurers’ Bureau to provide rehabilitation services following a comprehensive tender review process.
LAM attracts new member ahead of court battle
London Authorities Mutual says it expects a recent High Court ruling to be overturned as Islington Borough Council joins its ranks.
FSA questions 'consequential loss' phrase
The Financial Services Authority (FSA) has published a statement on the use of the phrase 'consequential loss' in general insurance contracts.
Howden strengthens Latin American team
Howden has strengthened its Latin America team with the appointment of Juan Martinez de Velasco as associate director.
Carvill releases Dolly contract settlement value
Reinsurance broker Carvill has released a settlement value for its Carvill Hurricane Index (CHI) contracts after Hurrican Dolly made landfall in Texas on 23rd July.
Munich Re shares tumble over 12% after profits warning
Global reinsurance giant Munich Re has said it will miss its 2008 profit forecast, sending shares tumbling over 12%.
Arch Capital Q2 net income falls
Arch Capital said that second quarter net income fell to $192.3m from $199.4m in 2007. First half net income fell to $381.7m, from $397.9m the year before.
IPC Holdings Q2 net income nearly doubles
IPC Holdings, the Bermudian (re)insurer, said that second quarter results for the last three months of the year to end-June nearly doubled to $47.5m from $27.9m.
Max Capital buys Imagine's Lloyd's operations for £11m cash
Max Capital said it has entered into an agreement to acquire Imagine Lloyd's and Imagaine Lloyd's operations in Denmark and Japan from Caribbean-based (re)insurer Imagine for £11m cash. The agreement also includes the acquisition of Imagine Lloyd’s…
Beazley reports 25% fall in pre-tax profits
Beazley Group has reported a 25% fall in pre-tax profits to £45m for the first half of 2008, compared to £60.2m during the same period last year.
Dolly damage estimate for US, Mexico downgraded to $350- 700m - AIR
Catastrophe risk modeling firm AIR Worldwide has downgraded its estimation of total insured losses from Hurricane Dolly in the US and Mexico at between $350m - 700m. Estimated insured losses from Hurricane Dolly, in the US only, have been narrowed to…
Amlin acquires minority shareholding in broker Miles Smith
Amlin, the Lloyd's (re)insurer, said it has acquired a minority shareholding in independent UK retail broker, MS.
PB Week: Prince Andrew praises Plumeri's opening of Willis building
On Monday, Willis’ chief executive and chairman Joe Plumeri was accompanied by a high powered ensemble to open the Willis Building (again), writes Andrew Tjaardstra, editor, Professional Broking .
Hurricane Dolly losses expected to be around $750m - RMS
Modelling agency Risk Management Solutions estimates that insured losses from Hurricane Dolly - a category 2 storm which hit southwest Texas near the border of Mexico yesterday - will be less than $750m.
Hurricane Dolly causes insured losses of less than $750m
Risk Management Solutions has estimated that insured losses from Hurricane Dolly - a category two storm that hit southwest Texas near the border of Mexico yesterday - will be less than $750m.
Liberty reports 10% growth in premiums
Liberty International Underwriters has reported net written premiums rose 10% in the second quarter of 2008 compared to the corresponding period last year.
Amlin opens office in Illinois, US
Amlin has confirmed it is to establish a representative office in Chicago.
Insurers need to be aware of fraudsters going to more extreme lengths
Innovation Group has warned that fraudsters are now going to more extreme lengths to commit insurance fraud, as highlighted by the case of Mr Darwin who, this afternoon, was found guilty of faking his own death in order to cash in on a £250 000 life…
Building structures under threat due to theft says Norwich Union
The theft of materials is no longer confined to the contents of buildings and stock in yards but now extends to the actual structure of buildings, Norwich Union has warned.
Liberty International Underwriting NWP up 10%; operating profit flat
Liberty International Underwriters, the international underwriting subsidiary of insurance giant Liberty Mutual, said that net written premiums rose 10% in the second quarter of 2008 than it did in the corresponding period last year.
Amlin to open up Illinois branch office
Amlin, the Lloyd’s (re)insurer, is to establish a representative office in Chicago. Amlin Illinois Inc, will work within the existing Lloyd’s infrastructure, utilising the Lloyd’s licence in Illinois to write admitted business which may not otherwise…