News
Insurers converting well to IFRS, claims survey
Major global insurers have responded well to the enormous challenge in moving to International Finan...
Xchanging launches model wordings library
Xchanging has announced the launch of Model Wordings Library (MWL), anticipated to be the London Mar...
Swiss Re to cut 2000 jobs
Swiss Re has confirmed that it will reduce its global workforce by up to 2000 positions through lay-...
Heritage reports float details
The board of Heritage Underwriting Agency has officially announced its intention to float on AIM. A...
Guy Carp praises Lloyd's resilience
Guy Carpenter has praised the strength, stability, resilience and adaptability of Lloyd's in its fou...
Heath Lambert group CEO toasts independence
Heath Lambert today reported a profit before interest, taxation and amortisation (PBITA) was up 19% to £8.6m for the first six months of 2006. UK Income was up 8% year on year, despite softening markets and the loss of revenue streams through divestments…
Hitachi Capital group finance director leaves
Hitachi Capital, the MPPI and GAP underwriter, has announced that group finance director, Barbara Iversen, is to leave the group, having decided to relocate to the North of England for family reasons.
Marsh hires new southern UK regional boss
Marsh, the world’s leading risk and insurance services firm, has appointed a new southern regional sales leader to boost development in the South.
Hardy makes board appointment
The Board of Hardy Underwriting Group has announced the appointment of Richard Abbott as an independent non-executive director with effect from 1 August 2006.
Willkomm quits as Scottish Re CEO
Scottish Re Group has announced that Scott E. Willkomm has resigned his position as president and chief executive.
Court of Appeal backs ATE insurers over stepped premiums
This morning the Court of Appeal handed down judgment in the important test case of Rogers versus Merthyr Tydfil CBC. The case involved a claim by Jonathan Rogers for damages suffered by him in a fall in a local park.
Moorhouse extends high street bank distribution deal
Moorhouse Group has signed a contract which will see its full commercial and personal lines insurance product range marketed nationally to other brokers by HSBC.
Lloyd's broker in regional buy
Lloyd's broker RFIB Group has expanded its presence in the UK market with the acquisition of the business of Bridle Insurance Brokers, based near Southampton.
Max Re rings up $17.3m Q2 profit
Max Re Capital has reported net income for the three months ended June 30, 2006 of $17.3m, compared to net income of $23.3m for the three months ended June 30, 2005.
HSBC backed broking start up to create 400 jobs
A new insurance start up has opened for business with a plan to create 400 jobs and hit gross written premium of £100m within five years.
Whittington appoints new head of Asia operations
Whittington Group has appointed Simon Birch as chief operating officer to head its Asia Pacific expansion from its Singapore headquarters.
New electronic messaging system for G6 launched
A new managed messaging service for commercial insurers and brokers has been launched, targeted at organisations who wish to trade with each other electronically using ACORD message standards.
Guy Carp relaunches political risk practice after Benfield raid
Guy Carpenter has made a number of appointments in a restructuring of its London-based political risk and trade credit practice.
Arc Legal Expenses ties up mortgage lender deal
Arc Legal Assistance has announced that buy to let specialist Paragon Mortgages, has become the first lender to offer its residential landlords legal costs and rent guarantee insurance with every mortgage offer.
Florida mulls reinsurance pool
Florida Governor Jeb Bush is considering a state-run reinsurance pool or joint underwriting pool to help businesses that can't get policies from private insurers, saying that if companies can't get coverage, it could lead to an economic downturn.
PBS doubles its size
Primary Broker Services and PBS Holdings have doubled their office space in Birmingham.
Allianz dismay at Flora judgement
After the Court of Appeal's refusal to allow Allianz Cornhill’s application in Flora v Wakom, the insurer has released the following statement. The company was hoping to strike out that part of Mr Flora's claim which sought to link any Periodic Payments…
Periodical payment appeal defeated: Insurer seeks Lords review
The Court of Appeal this morning dismissed the defendants’ appeal in the case of Singh Flora v Wakom (Heathrow) Ltd, that periodical payments for future loss of earnings and future care costs should be indexed by reference to the Average Earnings Index…
Deloitte welcomes launch of IFB
Deloitte have welcomed the launch of the Insurance Fraud Bureau, which has been officially launched this week.