News
Wellington posts 'strong' results
Wellington has posted what it describes as "strong" results for the first half of 2006. Profit from ...
Helphire appoints senior operations manager
Helphire has appointed Michael Emery as senior operations manager for its Bristol operational centre...
RBSI key to rate moves, says CEO
Admiral would only have felt compelled to raise its motor rates if Royal Bank of Scotland Insurance ...
O'Roarke secures Liv Vic backing in top five push
The multi-line underwriting start-up headed by former Churchill managing director John O'Roarke - AB...
Analysts and rivals question NU move
With insurers' reserves dwindling and claims costs expected to rise even further, Norwich Union's de...
Lloyd's insurer eyes mid-market
London market insurer Mitsui Sumitomo is targeting the UK middle-market business sector to launch a ...
What the papers said this week
The Times Insurers plan to lobby the government for changes to the rights of young drivers, such as...
Aviation market expects £200m hit
The most expensive plane crash since 2001 is expected to cost the insurance industry at least £200m ...
Arc Legal Assistance signs three-year deal
Arc Legal Assistance has signed a three-year deal to provide travel legal expenses for Axa Assistanc...
FSA criticises "erroneous" campaign
A non-executive director at the Financial Services Authority has referred a broking software house t...
XL announces exec moves
XL Capital has appointed chief executives for two of its business segments.
O’Roarke receives backing for ABC venture
Liverpool Victoria Friendly Society has acquired ABC Insurance Solutions, former Churchill boss John O’Roarke’s general insurance start-up.
AIG reappointed by Opodo
AIG Europe (UK) has been reappointed as travel insurance provider for Opodo.
Highway's profits down and combined ratio up
Motor insurer Highway's six month pre-tax profits have fallen to £7.5m (H1 2005: £11.3m) while its gross written premium has dropped to £119.3m (H1 2005: £130.8m).
Beazley to write $35m US property Cat facility
Lloyd’s (re)insurer, Beazley is to run a new Lloyd's Consortium for catastrophe - exposed US commercial property risks.
QBE's new aviation syndicate opens for business
QBE's new aviation syndicate, Emilio Di Silvio Syndicate 5555, opened for business from today, one month ahead of the previously announced schedule.
FSA fines broker over PPI sales
The Financial Services Authority has today fined Regency Mortgage Corporation £56,000 for failures relating to its sale of mortgage related payment protection insurance in the sub prime market. It is the first time the FSA has taken action against a firm…
Sterling hires CSC and Conversant in household anti-fraud drive
Sterling Insurance has signed a one year agreement with Computer Sciences Corporation and Conversant Data for their Advances automated fraud detection service for UK-based insurers.
Marsh survey claims EU law awareness low in E Europe
A major survey of 1,200 companies carried out by Marsh has revealed that 80% of companies operating in Central and Eastern European countries consider their overall awareness of EU legislation to be at a low or medium level despite the fact that 85% of…
Flagstone raises $136m in debt sale
Bermudian start-up reinsurer, Flagstone Re has raised $136m through a private sale of junior subordinated deferrable interest debentures.
Brit US Cat exposure plummets, sidecar plan on hold
Lloyd’s and UK company (re)insurer Brit has disclosed that its exit of catastrophe retro business is almost complete, along with significant reductions in its Property reinsurance, US Direct property and offshore energy aggregates.
Admiral records marginal rate rises as profits jump 24%
Admiral this morning reported a 24% jump in profit before tax to 68.7m pounds for the first half of 2006, with turnover up 12% to 359.2m pounds. Its combined operating ratio worsened slightly to 87.0% (2005 86.5%).
Brit profits up in first half
Brit Insurance has announced its first six months' figures, reporting gross written premiums up 2.6% to £695.3m. Net earned premiums rose 16.0% to £522.2m (2005 H1: £450.0m) and profit before tax and foreign exchange movements on non-monetary items was …
FSA bans Walsall Bridge Insurance for failing to insure consumers
The Financial Services Authority (FSA) today stripped Walsall Bridge Insurance Consultants Limited of its permission to carry on regulated activities after it found the firm had failed to pass on received client premiums to insurers, leaving clients…