Insurance News articles - Insurance Post

Reinsurance

PwC appoints new global head of insurance

PricewaterhouseCoopers has appointed Ian Dilks as the new global head of its insurance group.

30 Oct 2006

Equity expands in Sussex

Equity Insurance Group has acquired Worthing broker Dunglison & Co.

27 Oct 2006

Willis confirms 400 job cuts

Willis has confirmed it will be making redundant around 400 employees, primarily in the UK in both its retail and London Market operations.

27 Oct 2006

Personal

Fleet driver ignorance causes breakdown increase

Fleet drivers are risking breakdowns through ignorance about modern cars and lack of basic maintenance, according to RAC research.

27 Oct 2006

Claims

Post journalist scoops top award

Lynn Rouse, deputy editor of Post, has won the coveted general insurance trade journalist of the year award. Ms Rouse was presented with the prize at last night's Association of British Insurers' financial media awards ceremony.

27 Oct 2006

Illium expands southeast operation

Illium Managing Agency is expanding its service company operations into the South of the UK. The Lloyd’s liability and commercial motor specialist has appointed a new regional underwriter, Chris Ashmead, who will be based at the group’s existing office…

27 Oct 2006

Regulation

FSA fines Loans.co.uk for TCF failure

The Financial Services Authority (FSA) has fined Loans.co.uk Limited (LCUK) £455,000 for failing to treat its customers fairly when selling Payment Protection Insurance - the highest yet for PPI.

26 Oct 2006

Personal

Homeserve acquires Digital Insurance Services

Homeserve has acquired Digital Insurance Services for £3m.

26 Oct 2006

Lloyd’s/London

Quiddington quits Lloyd's

Steve Quiddington, director of operations at Lloyd's has left the corporation. Mr Quiddington originally joined Lloyd's in 2000 and a was a former director of strategy for National Westminster Bank.

26 Oct 2006

Only four of world's top 300 mutuals hail from UK

Four of the UK's leading mutual insurers are named as among the world's top 300 cooperative and mutual organisations in a new global ranking of the major cooperative and mutually-owned businesses.

26 Oct 2006

Reinsurance

Endurance reports record 3Q, retains much less

Bermudian (re)insurer Endurance Specialty Holdings has reported net income of $128m for the third quarter of 2006 versus a net loss of $377m in the same quarter in 2005.

26 Oct 2006

Claims

FM Global to launch flexible BI option

Commercial and industrial property insurer FM Global will soon offer its policyholders a new coverage option that enables them to choose the type of business interruption coverage best suited to their needs.

26 Oct 2006

Reinsurance

Aspen posts 26% premium growth in 3Q

Bermudian (re)insurer Aspen Insurance Holdings beat market expectations by posting a net profit of $95.0m the third quarter of 2006 compared to a loss of $362m for the same quarter in 2005. The figures were founded on a combined ratio of 81%.

26 Oct 2006

Commercial

QBE expands aviation syndicate

Following the launch of Emilio Di Silvio Syndicate 5555 in September 2006, QBE announces the further expansion of the underwriting and claims capabilities of the syndicate.

26 Oct 2006

Reinsurance

3Q reveals a deleveraged Montpelier Re

Bermudian reinsurer Montpelier Re has reported net income of $76m for the third quarter set against a loss of $730.3m for the same quarter in 2005. The figures came on the back of a 58.3% combined ratio

26 Oct 2006

Regulation

FSA fines loans.co.uk £455k for PPI miss-selling

The Financial Services Authority has fined Loans.co.uk £455,000 for failing to treat its customers fairly when selling Payment Protection Insurance. The regulator found that LCUK did not have appropriate systems and controls to minimise the risk of…

26 Oct 2006

Lloyd’s/London

Chaucer to open new managing agency

Chaucer has exchanged agreements with Quanta Capital Holdings and the senior underwriting team of Syndicate 4000 to establish Pembroke Managing Agency to manage Lloyd’s Syndicate 4000.