News
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.
Outsourcing: major report
The need to reduce overheads continues to be a major driving force for outsourcing according to a new report from Datamonitor, The Future of Outsourcing. The report examines the lessons from the past the new wave of outsourcers can learn from and what…
NU warns over risks from migrant workers
Deaths involving workers from the expanded EU means UK businesses need to be extra vigilant about risk management for migrant staff, according to Norwich Union.
Lancashire receives FSA authorisation
Lancashire Insurance Company (UK) has obtained authorisation from the Financial Services Authority to commence underwriting.
Catlin claims record half year results
Catlin Group has announced what it described as ‘record’ net income for the six months ended 30 June 2006.
RSA appoints global broker director
Royal and Sun Alliance has appointed Mark Holweger to the newly created role of global broker director, making him responsible for business from the major national brokers.
FSA publish paper on their changes to the Risk Assessment Framework
The Financial Services Authourity (FSA) has issued a paper setting out some important changes they have made to ARROW as part of their continuing programme of making the FSA easier to do business with.
Erinaceous buys Keelan Westall for £19.7m
Erinaceous Group has acquired Hampshire broker Keelan Westall for £19.7m through its insurance subsidiary Hanover Park Commercial, as Post Magazine predicted a month ago (10 August 2006, p48).
All Blacks star confirmed for CII conference speech
New Zealand’s All Blacks star Sean Fitzpatrick is to be the guest speaker at the CII conference gala dinner in October.
Whitespace makes software acquisition
Insurance technology specialist Whitespace Software has acquired Datarise Limited, a provider of claims management software solutions and services.
Fitch sees return of soft market cycle in 2007
Rating agency Fitch says it believes that over the next 12–24 months underwriting, operating and capital trends will generally support reinsurers’ current ratings, but that the biggest challenge facing the reinsurance sector over the period will be cycle…
PBSH enters motor fleet market
PBS Holdings, the holding company established to bring together Primary Group-owned commercial, agricultural and personal accident underwriting agencies, has announced its move into the Motor Fleet market.