News
Bolt warns underwriters of claims increase
Lloyd's recently appointed director of performance management Tom Bolt has warned underwriters to prepare for an increase in claims from financial institutions.
ILAA targets FSA fees
The newly-formed Independent Loss Adjusters Association has pledged to make Financial Services Authority fees its top priority when it officially launches in spring.
GAB Robins sets sights on casualty
GAB Robins has set it sights on overhauling rival adjusters Cunningham Lindsey and Crawford & Company to become the market leader in casualty claims.
Chartis and Parabis deal
Chartis has signed a two-year deal to work with Parabis to establish a third-party injury handling unit due to go live this month.
Thornside pet insurance
Thornside, the pet insurance division of Capita Insurance Distribution, is to work with Home Retail Group to provide and administer its new pet insurance programme in Ireland.
Questgates integration
<p>Questgates has completed the integration of the liability adjusting division acquired from Teceris Corporate and Complex Adjusting — part of Capita Group.
WNS web service
Motor claims management specialist WNS Assistance is offering insurers an integrated web service solution in line with the Ministry of Justice's new electronically streamlined compensation system for low-cost road traffic accident personal injury claims.
Commission disclosure fear for brokers seeking IPO
Brokers planning to list on the London Stock Exchange should be wary of potential changes to commission disclosure rules, KPMG warned this week.
Westinsure reveals plans for 40 more members in 2010
Westinsure aims to grow by £50m gross written premium in 2010 and recruit another 40 members, after reporting its most successful year to date in 2009. The broker alliance reported £300m GWP for 2009 and added more than 35 brokers to its ranks,…
Two more employees leave Aon to head to Bluefin
Two more people have left Aon for Bluefin to form part of its new real estate division, Post has learnt.
M&M to sell Kroll
Marsh & McLennan is set to sell its subsidiary Kroll arm for $1.3bn (£870m), $600m less than it paid for it in 2004.
Fulwood signs up
Preston-based broker Fulwood Insurance Services, has signed up to Broker Network's new start-up proposition, launched last month.
Landau Manson renamed
Broker Alan Turner has announced that the general business of Landau Manson, which it acquired last year, will now trade under the group's main broking name of James Hallam.
ULR wins Kwik Fit contract
Legal expenses insurer ULR is poised go on a recruitment drive, having picked up a major contract with personal lines broking giant Kwik Fit Financial Services.
Chaucer redomiciliation likely over tax fears
Chaucer has indicated that high corporation tax in the UK could force it to redomicile to Switzerland, Bermuda or Ireland in 2011, despite posting an increase in profit of £134.8m for 2009.
Hardy sees profits rocket before exchange
Bermuda-domiciled insurer Hardy has reported a steep increase in profit before tax and foreign exchange movements of £26.7m (2008: £4.4m), in contrast to a slight dip in profit before tax of £20.1m (2008: £23.1m). The combined ratio before foreign…
Hodges: no 'land grab' for Aviva
Aviva UK plans to build its capability in the commercial property owners and motor sectors after its business insurance book shrunk by £400m in 2009.
Chilean earthquake
Early estimates indicate the 8.8 magnitude earthquake off the coast of Chile on 27 February, will bring high insured losses, which will likely pressure overall profitability.
Axa Corporate growth
Axa Corporate Solutions posted a 2.3% growth in 2009 turnover on a comparable basis, reaching E1.93bn (£1.75bn), while underlying earnings were up by 17% at E133m
Novae pre-tax profit fall
Novae Group has posted a 35% fall in adjusted pre-tax profit in 2009, hurt by aviation reinsurance and credit losses in the first half of the year.
Beazley Furlonge results
The board of managing agency Beazley Furlonge has announced its results for syndicate 623, which writes business on behalf of third party capital at Lloyd's.
LV to recruit another 75 staff
LV's new 24-hour call centre for motor insurance customers in Hudddersfield may be expanded to household during 2010. The insurer hopes to create up to 75 jobs over the next 18 months following the opening.