News
RBSI hit by Tesco Personal Finance disposal as profit falls 31%
RBS Insurance has reported that it saw a 31% decline in operating profit in the first quarter of 2009 to £101m (2008: £147m) on premiums of £1.36bn (down 2% from £1.4bn in 2008). General insurance revenue was £8.1bn (2008: £8.2bn).
Foil welcomes Jackson report
The Forum of Insurance Lawyers has welcomed the preliminary report into civil litigation costs published today by Lord Justice Jackson but warned it signals the start of the "real work" as the review moves into the consultative stage of the process.
Crawford's revenue and income falls
Crawford & Company has reported consolidated revenues before reimbursements of $236.1m in the first quarter of 2009 compared to $255.5m in the same period last year.
Civil justice costs report published
Lord Justice Jackson has today published his preliminary report as part of his year-long review of the civil justuce costs regime in England and Wales.
Former Willis employee joins Heath Lambert
Following the recent opening of its new office in Birmingham, Heath Lambert has recruited Mark Williams to run its Midlands based commercial business.
AIG reports $4.35bn loss
AIG has reported a net loss of $4.35bn (£2.9bn) for the first quarter of 2009 compared to a net loss of $7.81bn in the first quarter of 2008.
KGM hires former NIG motorcycle chief
KGM Motor Insurance has appointed Richard Bauckham as class underwriter for specialist vehicle.
Swinton selects customer communications solution
Swinton Group has selected Thunderhead software to help streamline the creation, personalisation and delivery of customer documentation for new business and renewals.
Allied World Q1 results 'blows away' estimates
Allied World, the Bermudian (re)insurer said that net income in the first quarter of the year rose to $131.4m, from $130.9m in the first quarter of 2008.
Catlin CEO sees more room for rate growth due to capital levels and uncertainty
Catlin this morning reported that gross premiums written increased during the first quarter of 2009 by 2 per cent to US$1.17bn. Using constant exchange rates, gross premiums written rose by 8 per cent, which the insurance group added is in line with the…
Catlin Q1 gross written premiums jump
Catlin, the Lloyd's (re)insurer, said that gross premiums written increased during the first quarter of 2009 by 2% to US$1.17bn.
Charles Taylor Consulting in £7.8m swoop
Charles Taylor Consulting has acquired Axiom Holdings, an independent insurance and reinsurance support specialist for a maximum payment of up to £7.85m.
Charles Taylor Consulting makes acquisition
Charles Taylor Consulting (CTC), the management and consultancy services provider has acquired rival Axiom Holdings Limited, an independent insurance and reinsurance support specialist for a maximum payment of up to £7.85m.
Allstate in heavy Q1 loss
Allstate, the US insurance giant, reported a first quarter net loss of $274m, down from a gain of $348m in the first quarter of 2008.
AIG Q1 results worse than analysts' expectations
AIG managed to stem its losses in the first three months of the year, but still missed analysts' expectations.
Swiss Re to close Johannesburg office
Swiss Re is to close one of its offices in South Africa as part of a cost-saving initiative, Reinsurance can reveal.
NIG names new boss as part of RBSI exec shake up
Royal Bank of Scotland Insurance has named the man who will take over its broker-facing insurer NIG as part of a wider shake up of its executive team.
London market broker names new CEO
Glencairn has promoted Nick Cook to the role of chief executive officer, effective immediately. Previously a director and senior Partner of Glencairn and head of its property division, Mr Cook succeeds Steve Hearn, who will remain executive chairman of…
Former BIA achievement winner Mahoney to retire from Aon after 25 years
Former Aon UK chairman and chief executive Dennis Mahoney has announced plans to retire from the broker. Mr Mahoney won the British Insurance Awards lifetime achievement award in 2006.
Munich Re launches nat cat google earth for insurers
Munich Re has developed a "Google Earth" for insurers to track natural catastrophes– which is available free to the general public. As part of its push to highlight climate change, the world's largest reinsurer has produced a DVD to be used by insurers,…
Compare the Market expands home insurance panel
Compare the Market has added seven new brands to its home insurance price comparison service.
Biba teams up with Gallagher London for environmental liability scheme
The British Insurance Brokers' Association (Biba) has launched the Biba Environmental Liability scheme in conjunction with Biba member, Gallagher London.
Endurance reports first quarter net income of $78.3m
Endurance Specialty Holdings has reported net income of $78.3m for the first quarter of 2009 versus net income of $77.8m in the first quarter of 2008.
Insurers should not underestimate work involved for SII implementation
Ernst & Young has warned insurance companies to recognise the urgency of meeting the 31 October 2012 deadline for Solvency II.