News
White Mountains to buy out Berkshire Hathaway stake
Bermuda-headquartered (re)insurance group White Mountains has announced today that it has signed an exchange agreement with Berkshire Hathaway to buy substantially all of the common of Berkshire Hathaway’s 16.3% stake in the firm in a cash and run-off…
Flagstone to buy Imperial Re of South Africa
Bermudian class of 2005 start-up reinsurer Flagstone Re has announced that it is to buy 65% of South African reinsurer Imperial Re, a company it first teamed up with back in October 2007.
Giles in regional broker swoop
Giles has acquired three regional brokers in its first spending spree since securing £500m investment from its sale to Charterhouse Capital Partners.
Bupa insurance income up 7%
Bupa’s UK insurance income has grown 7% to £1.90bn in 2007, according to the company's annual results.
Watson Wyatt slashes stochastic run times
Global consulting firm Watson Wyatt has launched the latest version of its financial modelling system VIPitech.
Tokio Marine acquires Kiln
Tokio Marine and Nichido Fire Insurance has completed its acquisition of Kiln.
Thatcham kitemark fleet boost
The insurance-industry funded research centre Thatcham picked up the Best Safety Initiative of the Year Award for its BSI Kitemark initiative in the Fleet News Awards last night.
Heritage doubles profit in 2007, confirms suitors
Lloyd’s managing agent Heritage has confirmed that it is in discussions with potential suitors, which market sources have identified as Bermuda's Max Capital and Ironshore.
Heritage doubles profit in 2007
Lloyd’s managing agent Heritage has unveiled 2007 results that showed profit climbing 126% to £23.3m from £10.3m a year earlier on a combined ratio that remained static at 90%. The figures included a 39% increase in Heritage’s share of its managed…
Equity expands UK business
Equity Insurance has today acquired Devon broker, Holsworthy Insurance, as part of its continuing expansion.
Loss adjuster unveils new brand
The board of the Claims People today announced plans to change its name to Resources in Insurance Group, effective 7 April 2008.
Windstorm Johanna sweeps across UK
Windstorm Johanna continues to lash parts of the UK and France.
Amlin reshuffles team
Amlin has announced that Rob Wyatt will take over as underwriting director of Amlin Bermuda in 2009.
Chaucer considering possiblity of Bermuda move - CEO
Chaucer may be considering a move to Bermuda after efforts to get the UK Chancellor to reduce taxation on reinsurers' reserves proved fruitless.
Home and Legacy product gets five star rating
Home and Legacy’s new let product has achieved the highest possible Defaqto rating of five stars.
Flood warnings issued as storm batters parts of UK
Parts of Britain continue to be battered by rain and gale force winds as the worst winter storm of the year sweeps across the country.
Heath Lambert continues involvement with GICMA
Heath Lambert has continued its involvement with the Guernsey Insurance Company Management Association.
Liberty Bristol office gains new recruit
Liberty International Underwriters has appointed Jonathan Powell to join its Bristol office as regional assistant vice president, casualty.
Home and Legacy product gets five star rating
Home and Legacy’s new let product has achieved the highest possible Defaqto rating of five stars.
Dolmen’s teams up with Heath Lambert to offer specialist travel insurance
Heath Lambert has teamed up with Dolmen Insurance Brokers in Ireland to offer a specialist travel insurance which will cover pre-existing medical conditions.
Chaucer delivers record profit before tax of £89.4m
Chaucer said that full-year pretax profits rose to £89.4m from £86m, thanks to a low level of catastrophes and little exposure to last year's UK floods.
Brit CEO optimistic for 2008 after £191.2m profit
Brit Insurance has reported a profit before tax of £191.2m (2006: £186.3m) on gross written premiums of £1.26bn (2006: £1.23bn).
Lacking awareness underscores Corporate Manslaughter knowledge survey
A new study by Venture Preference has revealed that many care home managers and owners remain completely unaware of the implications of the new corporate manslaughter law despite the fact its inception is mere weeks away.
Lloyd's modernisation consultation begins
UK Treasury minister, Angela Eagle MP, has launched a consultation to modernise the governance arrangements of Lloyd's of London and to remove restrictions which impede the way the Lloyd's insurance market operates through a Legislative Reform Order.