News
Young driver proposals must go further, says ABI
New young driver proposals are a first step but more needs to be done, says the Association of British Insurers.
Post Pick of the Week
Post online and supplements editor Stephanie Denton looks at the week's major general insurance news including the launch of Renew Insurance services; Giles' plans to channel business through Ink Underwriting Agency; Arista's interest in broker-only…
Lockton poaches Willis Re's engineering global practice head - sources
Lockton, the privately-owned (re)insurance broker, has poached Willis Re's engineering global practice head Michael Quy, Reinsurance can reveal.
MMC Q1 net income swings to loss driven by Kroll writedown
Marsh and McLennan Companies, the owners of (re)insurance brokers Marsh and Guy Carpenter, reported a net loss for the first quarter of $210m, down from $268m the year before.
DAS acquires new ATE business
DAS UK Group has announced the acquisition of the after the event legal expenses insurance business of Litigation Protection, trading as Law Assist.
Willis Inspace reveals "largest ever" satellite package
Willis Inspace has announced structuring for its client Eutelsat - set to be the largest launch insurance package ever placed for a satellite operator in the space insurance market.
Insurers likely to be more affected by Solvency II than credit crunch
US subprime asset mark-to-market losses and the broader disruption in capital markets to have limited implications for Europe's insurers compared to Solvency II according to Standards and Poor's.
Voyager buys specialist travel broker
Voyager, the travel broker owned by Somerville Underwriting Holdings, has acquired its long-term strategic partner CH Facilities.
Scor says Q1 net income up over 63%
Scor, the French (re)insurer, said first quarter net income rose over 63% to €124m, up from €85m in the first three months of last year.
Validus launch targets Latin America
Validus is targeting the Latin American and Caribbean markets with the launch of Validus Reaseguros, which will act as an approved Lloyd’s coverholder for Syndicate 1183.
CETA recommends brokers sell ID fraud insurance
General Insurance Network CETA has urged brokers to sell identity theft insurance to consumers who need protection against the growing risk of ID fraud.
JLT appoints new Dubai manager
Jardine Lloyd Thompson, the UK (re)insurance broker, said it has appointed Lloyd A. Stewart to manager of JLT Dubai, its office in the DIFC.
Call for new elderly care insurance system
One of Britain’s elderly care experts says the government must adopt a new fairer funding policy to end the current system that sees 70 000 people sell their homes to pay for care every year.
Willis grows global division
Willis Global Holdings has made three senior appointments to its global specialties division.
Post Office launches new motorcycle insurance
The new Post Office motorcycle insurance will offer a umber of benefits, including the option to insure up to four bikes on the same policy and up to £500 cover for accessories per bike. And for a limited time it is also offering new customers one month…
Crawford announces positive results
Loss adjusting specialist Crawford has reported a rise in net income of 174%.
Subprime disaster causing reinsurers to turn back on FI business - Lockton
The subprime mortgage disaster and spate of lawsuits coming from the troubles has caused reinsurers to refuse financial institutions business, a report from Lockton has revealed.
QBE refuses to give up over IAG offer
QBE has announced that its proposal of 0.142 QBE shares and $0.70 cash per IAG share, to merge with IAG via scheme of arrangement, has been extended to 5pm Monday, 19 May 2008.
Direct Line continues commercial assault
Direct Line has launched a new insurance product for hotel, guesthouse and bed and breakfast owners.
Direct Line launches insurance for hoteliers
Direct Line has launched a new insurance product for hotel, guesthouse and bed & breakfast owners.
Home & Legacy Let quotes now online
Brokers will now be able to get an instant quote for Home & Legacy Let through the click of a button on the company’s website.
Max Capital Q1 net income plunges
Max Capital, the Bermudian (re)insurer, reported net income for the first three months of the year fell to $7.7m from $80m this time last year.
Presidio Reinsurance Group buys out UK underwriter Vespasian
Presidio Reinsurance Group said that it has bought London-based accident and health underwriting agency Vespasian.
Castlepoint's net income jumps $2.5m; net written premiums up 64%
Castlepoint, the speciality (re)insurer, said first quarter net income rose to $9.6m from $7.1m in the first three months of 2007.