News
Swiss Re: High-growth credit market worth $6.9bn
Swiss Re has valued the credit and surety insurance market business at $6.9bn in premiums in its latest Sigma study. The world’ largest reinsurer highlighted the link between increased demand for credit insurance and above-trend growth in world trade,…
Agriculture book sold
Equity Insurance has acquired the agricultural vehicle book of Staffordshire specialist broker Charles E. Peake.
Marsh in West Country push
Marsh has appointed a new development executive in Exeter to develop business in the area.
ABI warns housebuilders about floodplain risk
Further building on the floodplain should be avoided as climate change increases the flood risk the Association of British Insurers said today. In the last four years nearly 800 new housing developments have been built in high flood risk areas against…
Converium gets retakaful licence for Malaysia
Converium has received the approval of the Malaysian Labuan Offshore Financial Services Authority (LOFSA) to write international 'Retakaful' business through its Labuan office. Retakaful is the reinsurance of 'Takaful' business, the writing of insurance…
Profits up 14% at Room solutions
Room Solutions, the supplier of IT solutions and services to the non-life insurance industry, showed turnover up 14.8% from £12.1 million (2005) to £13.9 million (2006). for the year ending 30 June 2006, pre-tax profits were up 71% from £0.67m to £1.14m…
Tonks handed development role at N&G
Simon Tonks is to join Navigators & General as development manager. Currently marine underwriting manager at Allianz, he will join the management team with nationwide responsibility for the development of all distribution channels within N&G.
Senior appointment at Cooper Gay
The Cooper Gay Group has announced that James Summers has been appointed as chief executive officer of its Lloyd’s broking arm, Cooper Gay & Co.
Motor rates rise for second quarter in a row
The cost of car insurance has risen for the second quarter in succession, according to the latest benchmark AA British Insurance Premium Index.
ABI proposals aim to simplify online protection sales
The Association of British Insurers is putting forward proposals for consultation on new guidance to make applications for life, protection and critical illness over the telephone and Internet clearer.
Alexander Forbes launches PI to cover accountants in run off
Alexander Forbes Professions has launched a professional indemnity insurance product for members of the Association of Chartered Certified Accountants to cover a six-year run-off period following the closure of a business or on a sole practitioner’s…
Groupama brings in broker head from rival
Groupama Insurances has announced the appointment of Claire Ginnelly, who will shortly be joining Groupama Healthcare from Standard Life Healthcare as head of healthcare solutions. The insurer said she will head the company’s business development…
Labuan Re achieves A- rating
Malaysian Reinsurer Labuan Reinsurance has been upgraded to an A- financial strength rating by AM Best.
SBJ wins out in major tender
SBJ Professional has won out in the tender to be the appointed professional indemnity insurance broker to The Institute of Chartered Accountants in England & Wales.
Primary outlines merger
Primary Broker Services Holdings has announced a plan to merge two of its commercial underwriting agencies, subject to any necessary regulatory approvals.
FSA announce that providers and distributrs need to work together to treat customers fairly
The Financial Services Authourity (FSA) have issued Discussion Paper 06/4: ‘The Responsibilities of Providers and Distributors for the Fair Treatment of Customers.’
Aquilo confirms bid approaches
Aquilo has received a number of bid approaches, the claims management company confirmed this afternoon.
Research confirms online insurance buying habits on the rise
New research from Foolproof, the user experience consultancy, claimed that 50% of the UK’s motor insurance policies and 28% of its home insurance policies have been sold online. The annual study also said consumers expect to see further growth in online…
Tories call for tougher Road Safety Bill
The Conservative Party is considering tougher penalties and seizing and crushing more cars to "tackle the mounting problem of rogue drivers" without insurance, who fail to register their cars or drive without licences.
Re-launch of Personal Injury Federation
The re-launched Personal Injury Federation has been formed following talks with government departments and stakeholders from the industry to help its membership gain and retain authorisation under the Compensation Act 2006.
Aon launches financial security solutions
Aon's risk management solutions division has launched an offering to fund major business initiatives while providing long-term financial security to third parties.
Law firm offers free Bermuda and Cayman legal clinic for London Market
Appleby Hunter Bailhache has announced that it will be running a Bermuda and Cayman Insurance Law Clinic in London in mid-October.
Lark acquires Ascot Insurance Brokers
Lark Group has acquired Berkshire general broker, Ascot Insurance Brokers.
Heath Lambert puts Spanish reinsurance operations into run-off
Heath Lambert has closed its Spanish reinsurance broker, Heath Lambert Interbroker (HLI) to new business with effect 1st October 2006.