News
Omega profits and premium income up
Omega Underwriting has reported a profit before tax up 20% to $24.5m (H1 2007: $20.4m) on premium income up 7% to $185.9m (H1 2007: $173.1m). Profit after tax was up 34% to $21.8m (H1 2007: $16.3m).
Coastal flooded high-risk property insurance losses could double by 2030- Lloyds
Insurance losses from coastal flooding for high-risk properties could double by 2030, according to a new report published today by Lloyd’s and Risk Management Solutions.
Ace hires new head of international personal lines
Ace, the newly Switzerland-domiciled (re)insurer, said that it has appointed Douglas Reynolds as head of international personal lines and small-to-medium enterprise (SME) business.
Glacier Re H1 net income off $11m
Glacier Re's first half net income fell $11m to $22m from $33m a year earlier, the company said in a statement.
Christian to head up Benfield's international arm -sources
Dominic Christian, the head of Benfield International, will head up the newly-formed Aon Benfield Re's international operation, sources told Reinsurance.
Oval wins six figure payout from former employee
Oval has been awarded a substantial six-figure sum in an out of court mediated settlement following successful proceedings against Southall Harries.
LV insurance sales up 21%
LV’s overall insurance sales gross written premiums are up 21% to £206.5m from £170.1 for the corresponding period in 2007, as part of its half-yearly results.
CCV invests in Kent broker
Cullum Capital Ventures has announced an investment stake into Kent based broker Capital and County. The business, with a gross written premium approaching £12m, has a specialism in the motor trade and construction industry.
Chubb delivers Peoplesure
A new personal accident and business travel insurance policy, Peoplesure, has been launched by Chubb Insurance.
RFIB expands workers’ compensation reinsurance capabilities
RFIB Group, the international Lloyd’s insurance and reinsurance broker, is expanding the group’s workers’ compensation reinsurance capability with the recruitment of Duncan Hopegood and Adrian Mortley.
IFS launches diploma for insurance industry entrants
The IFS School of Finance and awarding body Education Development International have joined forces to offer a diploma for those looking to embark upon a career in the financial services industry.
CML slated by PPI provider
Senior heads should roll at the Council of Mortgage Lenders (CML) after failing to secure an equitable level of state protection for mortgage lenders in both the private and rented sectors, according to PPI specialist Burgesses.
Endurance admits Lloyd's interest
Endurance, the Bermudian insurer said it has been looking at potential Lloyd’s targets in the market.
Endurance adds to underwriting team
Endurance Specialty Holdings Ltd. (NYSE:ENH), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced several new leadership appointments in its international reinsurance operation servicing non-US clients.
XL appoints new enterprise risk manager
XL Capital has ppointed Jacob D Rosengarten as executive vice president and chief enterprise risk officer of the XL group of companies.
Government warned over flood time bomb
The widespread flooding of the past few days is a salutary reminder that the UK government is sitting on a time bomb if it fails to protect against floods before insurance is withdrawn from homeowners and commercial properties in high risk areas,…
Lawyers announce merger
Turner and Debenhams and Ottaways solicitors have merged. The merged firm is to be known as Debenhams Ottaway.
Axa UK unveils loss adjusting partner
Axa Insurance has renewed its liability loss adjusting contract with Cunningham Lindsey for a further three years.
Aon: London firms underestimating threat
London’s leading professional services firms could end up overpaying for gold dust office space by underestimating the impact of a terrorist attack or flood on the City and failing to prepare.
Venture Preference unveils major rebrand
Venture Preference has confirmed it will rebrand as ‘Bluefin’ from January 2009.
Ace in global green launch
Ace has launched Ace Green, a specialised insurance solution covering the spectrum of environmental and climate related risks faced by businesses.
New taxi product from KGM
KGM Motor Insurance has launched a bespoke policy wording for taxis following feedback from supporting brokers.
Lloyd's appoints former Swiss Re manager as Chinese boss
Lloyd’s has appointed a new chief executive officer for Lloyd’s Reinsurance Company (China).
Former Benfield broker to head Oxygen Bermuda push
Oxygen Insurance Brokers, the Lloyd’s accredited London market insurance intermediary, has announced the expansion of their specialist reinsurance division, Oxygen Re, with the incorporation of Oxygen Insurance (Bermuda).