News
Helphire disposes of business
Helphire has disposed of the business and assets of its wholly owned subsidiary company E-Register to Loss Management Group Limited ("LMG") for total cash consideration of £0.3m to be paid over a period of 12 months following completion. E-Register owns…
Ironshore brings in senior claims exec
Ironshore, the Bermudian (re)insurer, has said that it has appointed John Reusch as its senior vice president of property and casualty claims.
Hiscox sees rates rises in excess of 50%
Hiscox this morning reported premium income was up 51% to £486.5 million (2008: £321.3 million) for the first three months of 2009. At constant exchange rates year on year growth was 25%.
Berkshire Hathway stumbles to $1.53bn loss
Berkshire Hathaway stumbled to a $1.53bn loss in the first quarter of the year – a huge swing from the $940m it made in the first quarter of 2008.
Obama health insurance plan takes major step forward - reports
Barack Obama's plans for a US health insurance system for every American citizen took a major step forward today when health care industry leaders offered $2trn in spending reductions over the next decade to pay for a system, according to reports from…
LifeSearch launches new consumer website
LifeSearch has launched GetLifeRight.co.uk, a website designed to help customers buy protection products quickly and with advice.
Sesame Live events to outline opportunities for advisers
Sesame is embarking on a series of nationwide events to equip advisers with a toolkit of ideas to help them and their clients through the recession.
Reinsurance sets up linked-in group
Reinsurance magazine has set up a linked-in group to help those in the industry keep in touch with others in the sector and to share ideas and concerns. Check it out now
Loss adjuster MBO completed
Resources in Insurance Group, the AIM listed insurance claims facility provider, has completed the sale of its loss adjusting division, CPA.
DAS in City expansion and move
DAS Legal Expenses Insurance has announced the expansion and relocation of its London office to accommodate a dedicated City underwriting team.
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.