News
Former insurance directors convicted of $500m AIG fraud
Five former insurance executives have been convicted of fraud after an accounting scandal involving AIG and Berkshire Hathaway unit, General Re.
Glacier increases profits in 2007, to open London branch
Swiss-based (re)insurer Glacier group has reported 2007 pre-tax net income of $76.6m, an increase of $13.2m over 2006.
Willis selects AIG, Beazley and others for WTC building project
World Trade Center developer Larry Silverstein has announced the placement of the workers’ compensation, general liability, excess liability, and specialty insurance programs for the construction of Towers two, three, and four (200, 175, and 150…
Beazley boosted by US business, eyes Europe
Lloyd's (re)insurer Beazley has reported profit before tax of £138.5m for 2007 (2006: £86.8m) on gross written premiums of £780.5m (up 5%). Profit before tax and foreign exchange on non monetary items increased to £130.3m (2006: £96.2m) and net written…
Kwik-fit extends partnership with Fleet Hire
Kwik-Fit Fleet has extended its business partnership with leasing and fleet management company Fleet Hire for a fifth year with the signing of a new 12-month solus preferred agreement.
Towergate acquires Leicester broker
Towergate has boosted its Leicester presence by acquiring general, healthcare and financial services broker TF Bell Group.
New head of building solutions at Cunningham Lindsey
Christopher Hackett has been appointed to the new position of building solutions manager at Cunningham Lindsey UK.
Gallagher's Gander, Tucker to stay after Aon takeover
Gallagher Re chief executive Simon Gander and managing partner Larry Tucker will take senior positions at Aon after the $30m buyout of their business is completed, Reinsurance Magazine understands.
Axa launch buy to let product
A new personal lines product designed for small property investors and buy to let landlords has been launched by Axa.
3XD appoints non-executive chair
3XD has appointed Rick Riding as non-executive chairman with immediate effect.
Marsh’s new private client head warns of standard cover
Marsh has appointed Adrian Saunders to be the head of private client services in the UK.
Highway rolls out household product on Open GI
Broker only insurer Highway has added its new Choice Home household product to the Open GI system with immediate effect.
Munich Re says expects FY profits to be €400-900m lower this year
Munich Re, the German reinsurance firm, said that it expects this year’s profits to be between €400-900m lower than last year because of the softening underwriting market.
Norwich Union launches large property owners product
Norwich Union is today launching a specially designed prestige package aimed at large property owners, to help brokers offer a fully tailored solution for their customers.
Highway rolls out new product on Open GI
Broker only insurer Highway has added its new Choice Home household product to the Open GI system with immediate effect.
Towergate to sell minority stake to private equity firm, according to reports
Towergate founder Peter Cullum is in talks to sell a 25% stake in his business to a private-equity group in a deal that will value his company at more than £3bn, according to reports.
Aon to buy Gallagher Re, eyes Nymex contract
Aon has announced that it has signed definitive agreements to acquire "substantially all" of Gallagher Re's loss-making US and UK reinsurance brokerage business.
Scottish Re to sell international life, wealth management businesses
Scottish Re said that it is looking to sell its international business and wealth management divisions.
Norwich Union launches tailormade solution for property owners
Norwich Union (NU) has launched a specially designed prestige package aimed at large property owners, to help brokers offer a fully tailored solution for their customers.
Fire safety professionals failing on fire safety legislation
More than three quarters of fire safety professionals are unsure about major fire safety legislation introduced over a year ago according to new research.
Venture Preference unveils senior team
Stuart Reid has unveiled the management board for Venture Preference after being appointed sole chief executive of the Axa owned broker subsidiary a month ago.
Odyssey Re sees 2007 boost from mark-to-market gains
International reinsurer Odyssey Re recorded a strong rise in capital gains over the year to boost its full-year 2007 results.
Sandler stands down from broker board, but stays on at Ironshore
Following his appointment as executive chairman of Northern Rock, Ron Sandler has resigned from the board of Oxygen Holdings. He is replaced as non-executive chairman by Tom Binks.
Zurich's Paton handed new role
Thatcham, the insurer funded research centre, announced that Bill Paton, chief claims officer, at Zurich Financial Services, has been appointed to the role of chairman of Thatcham.