News
Aon report looks at risks ahead in 2005
The impact of climate change and a growing raft of environmental legislation are set to be two of the fastest growing risks to UK businesses according to Aon’s 2005 Risk Report.
Quinn Direct announces UK motor launch
Quinn Direct, has officially announced the launch of low-cost private motor cover in the UK.
Hiscox acquires Alex Forbes business
Hiscox has acquired Insurex Expo-Sure, the specialist insurance provider to the conference, event and exhibitions market. Hiscox will acquire 100% of the operation, from Alexander Forbes.
Equitas settles with American Standard
Equitas has reached a “comprehensive” agreement with American Standard Companies to settle all American Standard’s insurance claims against underwriters at Lloyd’s of London reinsured by Equitas.
Ace announces lower 2004 earnings
Ace has reported net income for the fourth quarter ended December 31, 2004 of $282m, compared with net income of $444m for the same quarter last year.
Balcombe resigns from Mastek
Mastek Insurance has confirmed that Justin Balcombe has resigned as UK head of insurance to pursue further interests in the marketplace.
LMA merger promises one voice for Lloyd's
The Lloyd’s Market Association has merged with the Lloyd’s Motor Underwriters’ Association (LMUA). The move makes the LMA the one, definitive association responsible for representing the interests of all the managing agents and syndicates operating…
Axa UK unveils restructure
Axa Insurance has announced a restructure, dividing the business into four core operational units: Distribution, Customer Operations, Corporate Development and Underwriting.
Willis releases D&O report
The start of 2004 was a testing time for the global D&O market, according to a new report by Willis.
Marsh UK CEO handed new role
Marsh has announced today that Bruce Carnegie-Brown, chief executive officer of Marsh in the United Kingdom and Ireland, has been appointed president and chief executive officer of Marsh's Europe/Middle East Operations.
Flood risk: Government refutes ABI claim
The Government has dismissed claims that 10 000 new homes will be at risk from flooding following the ABI's report, Making Comunities Sustainable (SEE POST MAGAZINE, 3 Feb, p56). Lord Rooker, Minister of State at the Office of the Deputy Prime Minister…
Scor issues renewal statement
Scor has described its 2005 reinsurance renewals for the property/casualty market as being ‘satisfactory’ despite the competitive environment.
Equitas unveils commutation deal
Equitas and Centre Group, a subsidiary of Zurich Financial Services, have announced an agreement to commute policies purchased from Centre by Lloyd's syndicates reinsured by Equitas.
Hardy diversifies further
Hardy Underwriting Group today announced that it will be further diversifying its underwriting business through the introduction of a new business line. It intends to develop a book of conveyancing insurances within syndicate 382.
Tsunami relief donations top £400k at Lloyd's
Lloyd's has so far donated £400 000 to the Disasters Emergency Committee Tsunami Earthquake Appeal, it was announced today.
NU urges support for Claims Standards Council
Norwich Union has officially backed the Claims Standards Council at the body's 'make or break' conference today. The insurer's director of technical claims, Dominic Clayden, told more than 100 delegates the CSC was the only way forward in regulating the…
NU in talks to acquire Barclays insurance arm
Barclays Bank has revealed that negotiations are underway to sell Gresham Insurance, which it bought today from Legal & General, to Norwich Union as it seeks to boost its share of the general insurance market. If negotiations are succesful NU would…
Banking giant in major UK GI acquisition
Legal & General has sold its 90% stake in its general insurance subsidiary Gresham Insurance to Barclays Bank, which already owns the remaining 10% stake, for a consideration of £85m.
III survey forecasts lower P/C premium growth ahead
The property/casualty (P/C) is facing lower premium growth in 2005, according to the Insurance Information Institute’s (III) annual survey of Wall Street stock analysts and industry professionals for the property/casualty insurance industry.
White Mountains reports 2004 growth
White Mountains Insurance Group, has reported good growth for 2004 despite the property/casualty losses that it suffered from various causes.
Three-quarters feel stressed at work
UK employees are facing a rising tide of stress in the workplace, according to a new survey. Aon Co...
IRM targets senior managers
The Institute of Risk Management has rolled out a new two-day training programme aimed at senior man...
Know your agency: This month - Joslin Rowe
Understanding the services and specialisms of recruitment consultancies is important. Associate Director Robert Charles gives the lowdown on Joslin Rowe
Rewards cut absenteeism
The key to avoiding unnecessary absenteeism is in a well-designed reward package and management prog...