News
Fortis sees UK profits up 16%
Fortis Insurance in the UK reports a year of further growth and increased profits. Gross written premiums (GWP) were up overall by 5% at £574m (2003 £546m). Profit before tax showed an increase of 16% at £46.1m (2003 GBP 39.9 million). The combined ratio…
Fortis seals 10 year deal worth £90m a year
Fortis has signed a ten year deal with Age Concern for the provision of insurance solutions to its £90m book of services schemes representing in excess of 800 000 policyholders.
CTC sees 20% growth
Charles Taylor Consulting has recorded a 20% increase in profits to £9.21m, compared to £7.68m in 2003. Revenue was up 12% to £62.8m.
Benfield predicts challenging year ahead
Benfield Group has reported profit before tax for 2004 of £90.4m, up £59.3m on the previous year's £31.1m. Group operating revenue decreased to £304.6m (2003: £307.7m). Profit before tax and exceptional items increased by £8.4m to £68.6m (2003: £60.2m).
Strachan calls for input on FSA review
The Financial Services Authority has called for interested parties to help shape views on its Enforcement Process Review being led by David Strachan.
Catlin announces record results
International property and casualty insurer and reinsurer Catlin Group has announced what it describes as record premium income and net income for the year ended 31 December 2004.
ACLP flags up Road Transport Directive for brokers
Allianz Cornhill Legal Protection is asking brokers to alert their customers that they could face prosecution if they fail to comply with the provisions of the Road Transport (Working Time) Directive, which becomes law on 23 March.
Fortis sees UK growth
Benelux financial services giant Fortis today reported that the net operating profit at its UK arm had “increased substantially”.
Cooper Gay buys back founder's shares
The Cooper Gay today announced that David Gay, who founded the company with Derek Cooper in 1965, has stepped down as a non-executive director of Cooper Gay. His remaining shares have been bought back by the company.
IAIS strengthens commitment to IASB
The International Association of Insurance Supervisors (IAIS) has announced the formation of a new subcommittee to deal with the increasing set of accounting issues and to strengthen its commitment to continued and improved cooperation with the…
Reinsurers lose RSA challenge
The Court of Appeal in the UK has rejected an argument from a syndicate of reinsurers that Royal & Sun Alliance's failure to notify them about certain lawsuits within 72 hours invalidated indemnification claims under its reinsurance policies for Coca-Cola
Moody’s changes Aon outlook to stable
Moody's Investors Service has affirmed the Baa2 senior debt of Aon Corporation and has changed the outlook to stable from negative.
AM Best ratings unchanged for Aviva
AM Best has announced that the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” on the rated companies of AVIVA (United Kingdom) remain unaffected following the announcement of the 2004 year results and the acquisition of…
RSA sees broker personal lines volume crash as profit increases
Royal and Sun Alliance today reported that its UK combined ratios had improved in both personal and commercial lines to 98.4% (2003: 103.7) and 93.5 (2003: 95.8) respectively.
TUC applauds new government plans
The Trades Union Congress has welcomed the government's plans aimed at making work more family frien...
Time to test yourself
A selection of questions from various past-CII qualification papers
HSA: best insurance company to work for
Health insurance and benefits provider HSA has been voted the best insurance company to work for, at...
Appointment at Markel International
Markel International has promoted David Jones and David Armes to joint divisional managing directors...
Events
10 March Insurance Institute of London lunchtime lecture - Charity Trustees Liability Lloyd's Old ...
Appointment at Aegis
Aegis Syndicate 1225 has appointed a new underwriting team. David Allen, senior cargo underwriter, a...
DAS looks for new managing director
Legal Expenses Insurer DAS is looking for a new managing director and finance director following Pau...
Wellington to reproduce Folgate model
Wellington Underwriting will seek to diversify its UK book of business in 2005 by replicating its di...
Lloyd's takes hard line in brand push
London Market News
Government reprieve saves industry £225m
Insurers have won an 18-month reprieve before the NHS can recover costs from workplace injuries, pot...