News
Aon to buy Gallagher Re, eyes Nymex contract
Aon has announced that it has signed definitive agreements to acquire "substantially all" of Gallagher Re's loss-making US and UK reinsurance brokerage business.
Scottish Re to sell international life, wealth management businesses
Scottish Re said that it is looking to sell its international business and wealth management divisions.
Norwich Union launches tailormade solution for property owners
Norwich Union (NU) has launched a specially designed prestige package aimed at large property owners, to help brokers offer a fully tailored solution for their customers.
Fire safety professionals failing on fire safety legislation
More than three quarters of fire safety professionals are unsure about major fire safety legislation introduced over a year ago according to new research.
Venture Preference unveils senior team
Stuart Reid has unveiled the management board for Venture Preference after being appointed sole chief executive of the Axa owned broker subsidiary a month ago.
Odyssey Re sees 2007 boost from mark-to-market gains
International reinsurer Odyssey Re recorded a strong rise in capital gains over the year to boost its full-year 2007 results.
Sandler stands down from broker board, but stays on at Ironshore
Following his appointment as executive chairman of Northern Rock, Ron Sandler has resigned from the board of Oxygen Holdings. He is replaced as non-executive chairman by Tom Binks.
Zurich's Paton handed new role
Thatcham, the insurer funded research centre, announced that Bill Paton, chief claims officer, at Zurich Financial Services, has been appointed to the role of chairman of Thatcham.
Business Intelligence and Search provider to target brokers
Ardentia Search has launched a combined Business Intelligence and Enterprise Search solution, NetSearch, to the broker market.
RSA described as "plausible" takeover target
Analyst Keefe, Bruyette and Woods has described Royal and Sun Alliance is a "plausible" takeover target as predicted strong growth for the insurer.
Insurer owned broker to relocate to Milton Keynes
Home and Legacy has announced plans to move its operations team to new premises as part of its expansion programme.
Groupama boss calls for "sanity" rather than the "vanity of a dash for growth"
Groupama Insurances reported profits of £23.1m for 2007 (2006: £33.8 million). The results were impacted by exceptional storm and flood losses in January, June and July totalling £18.4m (£14.4m net of reinsurance).
Advent records £25.2m profit
Lloyd's insurer Advent this morning announced a profit before tax of £25.2m. It added Advent Re made an underwriting profit of £4.9m in its first year of opertaion.
Catlin signs $150m cat loss reinsurance contract to protect portfolio
Catlin Group has purchased a collateralised US$150m annual aggregate reinsurance contract which protects the group’s portfolio of property treaty reinsurance against accumulated losses from specific perils.
Report: Giles set for private equity buyout
According to broking magazine Insurance Age , Giles Insurance Brokers is set to be acquired by London-based private equity firm Charterhouse Capital Partners.
Aggregator launches into new market
Uswitch.com, the price comparison and switching service, is expanding its range of insurance services with the launch of its new home insurance comparison channel.
NU in young driver warning
Crashes and insurance claims among young drivers are a bigger risk than ever for companies, according to Norwich Union.
FM Global reports record profit
Commercial property insurer FM Global today reported that gross premium in force grew by 4.2% to US$4.7bn in 2007. Net income grew by 26% to US$928m, the largest in the company’s history.
Markel confirms commitment to electronic trading
Yesterday, at a market briefing attended by 230 market representatives, Markel International, in affiliation with the International Underwriting Assocaition, confirmed its commitment to the electronic claims file initiative.
Law firms increase professional indemnity cover
Top law firms have taken the opportunity to increase professional indemnity before insurance costs rise according to a new survey.
PB Week: Spring sales start early for Ecclesiastical and RSA
Our noses have been well and truly on the grindstone this week, writes Charlie Thomas.
Argent claims rehab first
Argent Rehabilitation, part of the Parabis Group, has launched a case management initiative, allowing customers to search case manager CV’s online via a link on the company’s corporate website.
Asian terrorism threat unique says Lloyd’s
Businesses that operate in Southeast Asia need to better understand that the Asian terrorism threat is unique, complex and specific to the region, according to Lloyd’s.
Brit appoints Dodd as head of motor fleet within new 'London Region'
Brit Insurance has appointed Andrew Dodd as its head of motor fleet within Brit’s new ‘London region’.