News
Axa welcomes Pitt Review
Axa Insurance has welcomed the findings of the Pitt Review and has vowed to playing an ongoing role in discussing its “industry wide issues”.
Beat That Quote enters motorbike market
Price comparison site BeatThatQuote.com is adding motorbike insurance to its product line-up.
Independent insurance auditors fined over failings
By Gavin Hinks, editor of Accountancy Age, www.accountancyage.com . An accountancy disciplinary body has hit KPMG and the lead audit partner for Independent Insurance, Andrew Sayers, with a fine totalling £500,000 for conducting processes "seriously…
Oriental Assurance named as sunken Philippino ferry insurer - source
Philippines-based insurer Oriental Assurance has been named as the insurer of the striken Princess of the Stars, which sank last week in the Philippines.
Pitt Review misses key issue says RSA
The Pitt Review has overlooked the issue of how to minimise risk for thousands of households living at a high risk of flooding, according to RSA property insurance manager Alan Gairns.
Private market insured losses limited for US Midwest floods - RMS
Private market insured losses to property may be limited in the Midwestern United States due to a lack of buyers of flood coverage in the affected region, a report from Guy Carpenter has said, quoting a note from Risk Management Solutions.
Admiral creates 450 new jobs
Admiral Group is creating 450 jobs over the next three years with the opening of a new office in Newport.
Pitt's flood report "must not sit on shelf" says the ABI
The Association of British Insurers is calling on the government to act on Sir Michael Pitt’s report into the 2007 summer floods.
Sir Michael Pitt publishes flood report
Sir Michael Pitt has today called for urgent and fundamental changes in the way the country is adapting to the increased risk of flooding.
Giles reveals plans for Kent broker
Giles plans to build a dominant insurance broker in Kent from its operational hub in Orpington.
World Bank moves ahead with plans for weather derivatives
The World Bank is moving ahead with plans to use the weather derivative market as part of a comprehensive strategy to reduce the impact of drought in developing countries.
Slovenia's largest reinsurer launches fund manager
Pozavarovalnica Sava, Slovenia's largest reinsurer, said it set up a fund manager in Macedonia as part of an expansion strategy into investment fund management in Eastern Europe.
Benfield to appoint former RenRe president as non-exec
Reinsurance broker Benfield has said it is to apoint William (Bill) Riker to its board from the 1st of September 2008.
Crawford strengthens global team
Crawford and Company has appointed Mark Cote as global marine development and strategy director in its global markets team.
Frustration grows over flood law delay
Insurers and MPs welcome the Draft Floods and Water Bill but are frustrated it could take two years to become law and fear the government may fail to stump up the cash.
Oval boss Hodson: IPO an option for 2009/10
Oval chief executive officer Phillip Hodson has admitted the company could seek an initial public offering as early as next year.
ABI hits out over Scottish plaques bill
The Association of British Insurers has hit back at the Scottish Parliament, claiming educiation not legislation would better help people with anxieties about pleural plaques.
Torus sees opportunities despite softening market
Despite a softening energy insurance market, new London and Bermuda energy player Torus has told Reinsurance it still sees plenty opportunities in the sector in which to deploy its sizeable $720m start-up capital.
US P/C industry's net income after taxes almost halves in Q1 - ISO/PCI
The U.S. property/casualty insurance industry’s net income after taxes fell to $8.2bn in first-quarter 2008 from $16.2bn in first-quarter 2007 and a cyclical peak of $17.7 bn in first-quarter 2005, figure from ISO and the Property Casualty Insurers…
Online quotation company announces growth
Xbroker, an online comparative quotation system, is thanking a strategic marketing campaign for what it claims was a 27% increase in usage rates this Spring.
Capita signs deal with start-up
Capita Commercial Insurance Services has signed a contract with new London Market entrant Torus Insurance Marketing.
Marsh aviation team migrates to Guy Carpenter
Marsh’s aviation reinsurance team is set to join its sister Marsh and McLennan Companies-owned business Guy Carpenter by the end of the year.
LMA re-elects chairman, outlines goals
Paul Jardine, the chief operating officer of Catlin Group, has been re-elected as chairman of the Lloyd’s Market Association, which represents the Lloyd's underwriting community.
ABC celebrates first year of trading
ABC Insurance has said it will hire up to 70 new staff in the coming year.