News
Chaucer profits rise 89%
Chaucer has announced profit before tax up 89.3% to £47.9m for the first six months of 2007 (2006: £25.3m) and an improved combined ratio of 84.4% (2006: 90.6%).
QBE Europe unveils Lloyd's business restructure
QBE Europe is restructuring Limit syndicates Syndicate 566 and Syndicate 2000 to create a new reinsurance division, under one unified reinsurance brand.
Lomas QC argues Condon was still in charge of whiteboard in 2000
Philip Condon was still responsible in 2000 for whiteboard claims and reserving issues, Mukel Chawla QC tried to prove in his cross examination of the former deputy managing director of Independent Insurance, Olivier C. Laurent reports.
Bright's work philosophy caused tensions
Michael Bright’s philosophy regarding the clearing of whiteboard claims caused tensions in the London Market division of Independent Insurance, said Philip Condon, as Olivier C. Laurent reports.
Condon knew nothing of £141m pledge
Philip Condon, former deputy managing director at Independent Insurance, had no detailed knowledge of the reinsurance negotiations, the defence said today, Olivier C. Laurent writes.
Indie trial: board rejected Condon's resignation
The board of Independent Insurance rejected Philip Condon's resignation after he decided to follow the lead of Michael Bright and step down, reports Charlie Thomas from Southwark Crown Court.
ABC car policy exclusive to brokers
ABC Insurance has launched a new private car insurance policy, exclusive to brokers.
Aquilo appoints administrators after closing subsidiary
Aquilo has announced it is to close one of its trading subsidiaries after failing to find a buyer.
ABC unveils first personal lines offering
ABC Insurance today unveiled its new private car insurance policy.
Domestic and General shares jump 10% after £523.9m offer
Shares in Domestic and General shot up 10.13% [128 pence] by 11:00 today on the news that the board of directors of AIDG Jersey Acquisitions have reached agreement on the terms of the recommended cash acquisition of the entire issued and to be issued…
RSA launches new SME professional indemnity package
Royal & SunAlliance (RSA), has announced the launch of its new professional indemnity (PI) cover for small to medium-sized enterprises (SMEs).
RSA ramps up SME offering
Royal & SunAlliance has announced the launch of its new professional indemnity cover for Small and Medium sized Enterprises.
CCV says regional brokers will "continue to grow and prosper"
Cullum Capital Ventures has announced the acquisition of Wigan-based intermediary Alker Brothers.
Zurich snaps up underwriting agency
Zurich Financial Services has acquired Wrightway Underwriting Limited following receipt of the necessary regulatory approvals.
Indie board rejected Condon's resignation
The board of Independent Insurance rejected Philip Condon's resignation after he decided to follow the lead of Michael Bright and step down, writes Charlie Thomas.
Condon denies anything to do with whiteboard claims
Philip Condon had nothing to do with the whiteboard claims at the centre of the Serious Fraud Office's case against him. This was the assertion of Mr Condon’s defence counsel Gareth Rees QC in his opening statements today, writes Charlie Thomas.
XL strengthens global team
XL Insurance has appointed Colin Sprott as chief underwriting officer for its Global Marine & Offshore Energy team.
Benfield Fac weathers walkout as Corporate Risks ‘gains traction’
Reinsurance broker Benfield’s chief executive Grahame Chilton singled out two specific company segments as the firm unveiled its 1st half 2007 results today.
Global Cat market rates drop 6%
Global catastrophe reinsurance market rates have tumbled 6% this year, versus an increase of 32% in 2006, according to an annual report by leading broker, Guy Carpenter.
Broker names seventh asscoiate director
Perkins Slade has promoted Mark Ford to associate director with the responsibility of broker relations and business development.
HBOS boss takes MD role at BGL
The BGL Group has appointed Peter Thompson as managing director of its affinity outsourcing business, Junction. He will join the group in January 2008.
Indie trial: Condon takes the stand
Former Independent Insurance deputy managing director Philip Condon finally took the stand at Southwark Crown Court yesterday admitting that he wasn’t always sure whether Independent’s practices regarding reserves were “acceptable,” writes Jamie Dunkley …
Catlin’s profits suffer from Wellington integration.
Catlin group’s net income dropped to by $25.2m (£12.4m) to $162m on an aggregated basis from last year’s first half.
NU scraps relocation plan
Norwich Union has scrapped a multi-million-pound project to transfer 1100 staff from the centre of Norwich to two new offices on the edge of the city, according to a a report in a local newspaper.