News
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.
Indiana could see more than $800m economic losses after floods - report
The State of Indiana could experience more than $800m of economic losses after floods wreacked havoc in the state last week, press reports say.
Max Specialty can write in California
Max Specialty, Bermudian (re)insurer Max Capital's excess and surplus lines insurer, has obtained approval to underwrite in the state of California.
Insurers keeping wary eye on California wildfires - AM Best
The number of homeowners claims coming in from more than 30 active fires in California may be minimal, but insurers remain concerned about a fire season that has started earlier than usual in 2008.
Lacking demand for commission disclosure: IIB
The Institute of Insurance Brokers has said that there is virtually no demand for commission disclosure amongst certain businesses.
European safety campaign gets public supporter
Alliance Corporate Risk Management has thrown its support behind a Europe wide bid to improve risk assessment and injury prevention in the workplace, the company announced today, just before the launch of a major safety campaign.
New Energy insurer Torus launches in London and Bermuda with $720m
First Reserve Corporation, the company beind the 2006 Petrel Re energy sidecar for Validus Re and Sideris Re, has joined forces with a group of senior insurance practitioners to create a new specialist insurance company, Torus Insurance Holdings Limited …
Alec Finch London undergoes management buyout
Alec Finch London has been acquired by its management, it parent has disclosed.
Marsh aviation reinsurance team to transfer to Guy Carp
Marsh and its MMC reinsurance broker sister company Guy Carpenter have announced that Marsh's aviation reinsurance team is to transfer to Guy Carpenter by the end of 2008.