News
PWS brokers bailed until April following probe
Last week's raid on Lloyd's broker PWS by the Serious Fraud office is believed to have stemmed from ...
Brokers must comply with Act
Brokers were warned this week of the need to comply with the new Companies Act 2006, or risk facing ...
DOC abuse set for insurer crackdown
Insurers and police are hoping to stamp out widespread abuse of the 'driving other cars' extension o...
FirstAssist MD move
FirstAssist Services has appointed Ian Sparks as its managing director. Other appointments to the co...
Appointment at Zurich
Zurich has appointed Emma Morgan as head of motor claims supply. Prior to taking this role, Ms Morga...
Groupama boosts team
Groupama Insurances has boosted its frontline team with the appointment of three new key account man...
Axa overhauls Select
Axa has continued the revamp of its household portfolio with an overhaul of its mid net worth produc...
RIP paper dockets
Upgrades to the recently-launched electronic processing system at Lloyd's could mark the final coffi...
MIB opens database access up to public
The Motor Insurers' Bureau is launching a year-long campaign to keep its database of insured drivers...
Appointment at Chubb
Chubb has appointed Paul Wareham as branch development manager of the Reading office. He will be res...
APC secures £20m capacity
SME insurance underwriting agency Anglo Pacific Consultants has secured £20m in underwriting capacit...
This is the week that was
Anthony Gould, editor in chief of Post Magazine provides a run down of the major stories in the UK general insurance sector this week. News includes the launch of yet another mutual insurer as insurers's shunned; the arrests of four insurance executives;…
ABI - New guide on ICA launched by the Insurance industry
The Association of British Insurers (ABI), in partnership with ILAG, the IUA, Lloyd’s and the LMA, last week published ‘A Guide to the ICA Process for Insurers’. The guide complements the updates made to the ICA regime on 31 December 2006 with additional…
Axa confirms Swiftcover buy
AXA UK announced today that it is to acquire the UK’s only 100% online insurer, swiftcover.com, jointly owned by international insurer Primary Group and Swiftcover’s management. The transaction is subject to the satisfaction or waiver of certain…
Axa linked with Swiftcover acquisition
Axa Insurance is understood to be making a return to the direct personal market, buying online motor insurer Swiftcover in a surprise deal.
Police back MID updating move
The police is fully behind a campaign to speed up the process of updating the motor insurance database.
OFT refers PPI market to the Competition Commission
The Office of Fair Trading has referred the UK payment protection insurance market to the Competition Commission for further investigation.
Culliney joins Lockton Professions
Lockton has appointed Kevin Culliney as executive director of its professions division.
Excellent year for XL
XL had an “excellent year” in 2006 according to analysts, following its announcement of record profits.
RenRe posts record results, but 2007 prospects dwindle
Bermudian reinsurer RenaissanceRe reported record income and returns for 2006, but has tempered the good news with caution for growth prospects in 2007, citing a softening market and the impact of the Florida Government’s decision to increase its State…
Pick of the Week
Anthony Gould, editor in chief of Post Magazine provides a run down of the major stories in the UK ge...
RenRe settles SEC case for $15m
US regulator the Securities and Exchange Commission (SEC) has anounced that it has settled its finite reinsurance accounting fraud case against Bermudian reinsurer RenaissanceRe for a fine of $15m and a commitment to bring in an independent consultant to…
AXIS results beat expectations
AXIS Capital has smashed expectations with its latest results, announcing profits of $281m in the final quarter of 2006.
Partner Re smashes estimates in “tremendous” year
Bermudian (re)insurer Partner Re has posted net income of $242.7 million for the fourth quarter of 2006 and net income of $749.3 million for the full year, producing an operating return on equity of 26%.