News
Accordian Re gains new capacity for Japanese market
Lancashire Holdings has secured additional capital of $75m (£48m) for Accordian Re to focus on the 1 April Japanese market renewals.
Tawa backs new London broker
Insurance service provider and run-off investor Tawa is backing a new London-based commercial lines broker that launched today.
Former Aspen CFO to replace Culmer as RSA group finance boss
RSA has appointed Richard Houghton as its group chief financial officer.
Lancashire CEO Brindle "cautiously optimistic" for 2012 after $219m year end profit
Lancashire has reported an 8.2%, or $56.8m, drop in gross written premium to $632.3m in 2011.
Swiss Re P&C operating income halves despite $1.3bn reserve releases
Swiss Re has seen its property and casualty operating income almost halved in 2011 to US$1.28bn (US$2.47bn).
RSA UK back-in-black, but commercial hit by "drag" of three-year fleet deal
RSA has reported a 6% rise in UK premiums to £3.1bn in 2011 and an underwriting profit of £40m (2010: £95m loss).
RBSI reports £749m turnaround in profit in 2011, as it sheds 1.3m policies
Royal Bank of Scotland has reported an operating profit of £454m in 2011, compared with a loss of £295m in 2010. Its new underwriting profit was up from £307m to £1.04bn.
ABI calls for reduction in fixed legal fees
The Association of British Insurers has said it is time to “put a brake on the UK’s exorbitant legal bill” which is costing UK consumers £1666 every minute.
Willis makes u-turn over contingent commissions as profits tumble
Broker stresses new stance does not have an impact on most business.
Wentworth Alexander employee 'under surveillance' after leaving Bluefin
Axa-owned broker Bluefin has admitted it would use private detectives to spy on former staff it suspects of breaking restrictive covenants.
Career development: BT Claims to add 20 in ABS push
BT Claims is set to recruit 20 new staff following is application to become an alternative business structure.
Experts claim average broker selling price falling
Graham Barr, who joined acquisitive broker CCV as chief operating officer in October, has said brokers are selling on average at less than 1.5 times their brokerage, with only unusual niche specialists selling for two times.
Career development: Swinton creates 100 roles in HPI link up
Insurance broker Swinton has created 100 new roles after joining forces with vehicle information firm HPI to offer free comprehensive seven-day cover.
Market moves: Spring comes early for insurers
Following a strong week for managing general agents, insurers were the main recruiters this week as the market begins its move into the spring.
Legal chiefs angered by Downing Street snub at the motor premium summit
Only insurers were invited to the Number 10 meeting, leaving many sectors feeling left out in the cold.
Loss adjuster distances itself from former employee accused of accepting a bribe
Merlin says any transaction was undertaken without authority
In conversation with Zurich: Corporate underinsurance for plant machinery repair and replacement
There have been a number of surveys that have highlighted underinsurance in the corporate market, with a heavy emphasis on business interruption and property reinstatement. But another insurable cost is often over-looked, that of plant machinery repair…
Zurich appoints Bouchard head of government and industry affairs
Zurich Financial Services Group has appointed Francis Bouchard as the group head of government and industry affairs, with effect from 1 April 2012.
Warehouse fire causes disruption
Over 100 residents from 30 properties have been forced to leave their homes following a fire at a Gloucestershire warehouse.
RDT launches Iphone app
RDT said its new Iphone and Ipad application delivers landscape business managers with real-time management information direct to their mobile device.
Barclays general insurance complaints soar
Barclays has reported an increase in general insurance complaints, from 38 187 in the first half of 2010 compared to 73 692 for the same period in 2011.
DLA Piper recruits William Marcoux from Dewey & LeBoeuf
Law firm DLA Piper has hired former Dewey & LeBoeuf executive committee member William Marcoux as partner and head of its insurance sector transactions and regulation practice.
LMA and government reach agreement on export licences
The Lloyd's Market Association has reached agreement with the UK government to speed up the authorisations Lloyd's and other London market underwriters need to insure the international movement of weapons and military equipment used by the United Nations.
UK General signs £22m worth of new scheme deals
UK General has signed 11 new schemes deals during the past three months as it continues to grow its presence in the UK schemes market.