News
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’.
PIAB chief lauds 2007 achievement
Compensation totalling €181m was awarded in respect of 8200 personal injury claimants in 2007 according to preliminary year-end data from Personal Injuries Assessment Board.
Allianz reports FY net income up 13.5%
Allianz reported that full-year net income accelerated 13.5% in 2007, thanks to a low level of catastrophe claims and a 21% gain in its life and health division.
Axa win big at awards
Axa was celebrating last night after dominating the Lifesearch Awards 2008.
Arista continues Southern expansion
Arista Insurance has appointed Stuart Bulbrooke as southern regional manager and Nia James as a senior commercial underwriter at the company’s Southampton branch.
Ecclesiastical buys broker
Specialist insurer Ecclesiastical has agreed to buy the insurance brokerage businesses of South Essex Insurance Brokers Limited and Equestrian Underwriting Agencies Limited. The Essex-based broker generates nearly £28m gross written premium through…
UK 2007 household loss put at £300m
Household insurers suffered an estimated loss of over £300m in 2007 due to the severe flooding experienced in the summer, according to a new report. However, it claims the market is forecast to return to a profitable state in 2008.
Market awareness may not be enough in the future
Managers now need a variety of skills to stay ahead of the competition, Jo Causon
CILA paints positive future with new IFS learning scheme
The IFS School of Finance has teamed up with the Chartered Institute of Loss Adjusters on an initiat...
Allianz initiates phase two of green plan
Allianz Insurance has launched the next stage of its initiative to encourage staff to reduce the env...
Pick of the Week
Post Editor Jonathan Swift provides a run down of the major news in this week's issue of Post Magazin...
MDU to share policies
UK medical defence organisation the Medical Defence Union has confirmed that it will be sharing the ...