News
Swiftcover offers motor cover by text
Online insurer Swiftcover is offering motor insurance via text message.
Sirius reports revenue and profit rise
Sirius this morning reported total revenues increased 8% to £11.5m (H1 2005: £10.5m). Recurring revenues were up 13% to £4.6m (H1 2005: £4.1m), representing 40.2% of total revenues (H1 2005: 38.5%)
MP Charles Clarke joins Beachcroft
Law firm Beachcroft LLP has announced the appointment of the Rt Hon Charles Clarke MP as a consultant.
Aon claims market first
Aon today claimed to have become the first company to form an insurance ICC through its Captive Services Group. White Rock Insurance (Guernsey) ICC said it would would provide medium sized companies a faster entry and exit.
Equity acquires Isle of Wight broker
Equity Insurance Group has acquired the general book of Newport broker Foster Insurance Services.
Litcomp appoints new business development manager
LitComp, a provider of After the Event Insurance and a supplier of medico-legal reports, has appointed Andrew Wesson as business development and risk assessment manager.
Unreliable modelling and aggregation could impact London Market
London market insurers are confident that they will deliver strong returns in 2006. But today’s risk environment casts a shadow of doubt over the outlook for 2006.
British Land to protect £19bn property with risk system
An interactive risk management system is to be installed across British Land Company’s multi-billion pound property portfolio following a deal with leading risk specialists, the National Britannia Group.
Bonnar and Beaton leave Aspen
Aspen Insurance announced today that Nick Bonnar, head of specialty, and Ian Beaton, head of insurance, have resigned to take up new positions in the industry.
RFIB appoints two for Eastern Bloc and India push
RFIB Group has hired two new directors for its international reinsurance business.
Oxygen enters reinsurance market
Oxygen Insurance Brokers has announced the launch of Oxygen Re.
Howden reveals Towergate swoop for medical expansion
Broker Howden Medical Insurance Services has launched its first UK regional office in Leeds, with a team it acquired from Towergate.
DAS goes for disability kitemark
Legal expenses insurer DAS has appled for the Disability Symbol as recognition of its policies and practices towards disabled people.
Sterling appoints two execs from Cardif Pinnacle
The Sterling Insurance Group today announced it has hired two new senior executives, Steve Williams and Roger Humber. Both have joined the main board in senior positions.
Reinsurers' financial strength at five-year low
Financial strength in the global reinsurance sector has declined over the past five years to the point that, when taken on a stand-alone basis, no reinsurer is currently rated higher than 'AA-'.
RI3K launches new trading system
Electronic trading service RI3K has announced a new version of its trading system in Monte Carlo.
Chaucer enjoys growth in first half
Chaucer Holdings has announced that its gross written premiums in the first half of 2006 has increased by 26% to £331.8m, with net earned premiums increasing by 29.3% to £198.4m.
Glacier Re hires Hitz for property
Glacier Reinsurance the European reinsurance company, has appointed Dr. Luzi Hitz as senior property underwriter.
Hiscox confirms Bermuda move as profits fall
Hiscox confirmed it is planning to move its domicile to Bermuda as profits fell in the first half of 2006, despite gross premiums written increasing 43% to £625.1m. The firm's surplus was £61.3m, compared with £88m for the same period last year.
Medicare moves underwriting business to Brit
MediCare International, an international health insurance provider, has moved its underwriting business to Brit Insurance Limited, a subsidiary of Brit Insurance Holdings PLC.
Guy Carp sees Cat rates online up 76% in the US
Reinsurance broker Guy Carpenter has announced that its world rate on line (ROL) average index increased by 32% in 2006, fuelled by rate rises of 76% in the US.
Regulator gives just four weeks for FSCS rule change discussion
The Financial Services Authority has published a consultation paper seeking views on proposed changes to the Financial Services Compensation Scheme (FSCS). However, the regulator has expressed a need for 'urgency' and has limited the process to four…
JLT sells US businesses for $100m
Jardine Lloyd Thompson has agreed to sell its US-based property and casualty and employee benefits businesses to Alliant Insurance Services for $100m.
Groupama hires Allen for household
Groupama Insurances has appointed a new household underwriting manager, Craig Allen.