News
Caribbean Cat fund wins renewal reduction for 08
The World Bank backed Caribbean Catastrophe Risk Insurance Facility has announced a 10% decrease in renewal premiums for 2008 and a lowering of its attachment point to one-in-15 year events.
Heath Lambert continues its expansion in the south
Heath Lambert has appointed Sharlie Bird head of ofice for its Reading and Southampton offices, and to drive forward Heath Lambert’s continued expansion in the south.
Aon moves to a global platform with Risk Services
Global broker Aon has announced the firm is integrating its worldwide risk and insurance brokerage operations into a single global business, Aon Risk Services, with more than 26 000 colleagues in 120 countries and more than $5bn in revenues
Bupa on course to create national health insurer in Australia
The council of MBF Australia, Australia’s second largest health fund, today approved amendments to MBF’s constitution, allowing its policyholders to now vote on the proposed merger with Bupa Australia.
Broker issues profit warning
Broking group Culver has today announced that it will report a "significant loss for the second half of 2007".
Welsh broker in Lloyd's move
Listed broking group Culver has announced the acquisitions of 81% of the issued share capital of aviation specialist broker AMS Corporate Risks and the whole of the issued share capital of Lloyd’s broker LPH Pitman.
Lloyd's insurer in £1 acquisition
Lloyd's insurer Chaucer has agreed to purchase Quanta's 15% shareholding in Pembroke JV for a consideration of £1.
Reinsurance FY results round-up
This week Ace, the Bermudian (re)insurer, reported a 12% rise in full-year net income to $2.57bn, up from $2.30bn. However, combined ratio for the year fell to 87.9% from 88.1%, while net written premiums for the year fell marginally to $11.98bn from $12…
Endurance says full year net income rises to $521m
Endurance, the Bermudian specialist (re)insurer, reported full year net income of $521.1 million, up from $498.1 million in 2006.
Broker in MBO
The directors of Warwick-based Quantum Underwriting Solutions have acquired the business from chairman and founder Stefan Wissenbach for an undisclosed sum.
Broker acquisitions, a trip to Wembley and a party - read the latest PB Week
It was another fast moving week for the PB editorial team -here are the highlights!
Omega in play, private equity mooted
Omega Insurance, the Lloyd’s-based specialist (re) insurer, has confirmed that it is “in discussions with a number of parties who have expressed an interest” in acquiring the group.
Aspen reports 29% increase in annual net income
Aspen Insurance has reported a record net income of an $489m marking an increase of 29.3% on 2006.
Munich Re appoints head of healthcare from SLH
Munich Re has appointed Philip Wright as its new head of UK healthcare.
Cunningham Lindsey appoints London market director
Cunningham Lindsey UK has appointed Stephen Raine to its board as London market director.
Ace strengthens online team with appointment
Ace Europe has announced the appointment of Carl Faulkner as its European ecommerce manager.
Willis Group reports fourth quarter results down
Willis Group Holdings today reported results for the quarter ended 31 December 2007 of $95m (£48m) reported net income, down from $148m a year ago Total reported revenues for the quarter increased 3% to $639m compared to $621m in 2006.
Zurich political risk capacity increased to $125m
Zurich’s emerging markets unit has announced it is boosting its political risk capacity to $125m (£64m) per risk for up to 15 years.
Claims People expands board
Claims People has promoted Gordon Vater to the group’s main board as an executive director with immediate effect.
India insurance sector faces talent shortage
Specialist insurance recruitment company, Darwin Rhodes Group, has said liberalisation of India’s insurance sector has created enormous demand for talented actuarial and insurance specialists.
Super Tuesday tornadoes tear up US
More than two dozen tornadoes tore through the mid-South US late last night, destroying homes, barns, and industrial buildings from Texas to Ohio. The severe thunderstorm outbreak, which included tornados, hail, heavy rain and lightning, killed nearly 50…
Endurance reveals 2007 results
Endurance Specialty Holdings has revealed a net income of $521.1m in its 2007 annual results.
Groves to head Marsh’s captive consulting practice
Marsh has appointed Jonathan Groves as leader of its captive consulting practice for Europe, Middle East and Africa. Based in London, Mr Groves will have overall responsibility for new business, team management and the development of captive consulting…
Moorhouse adds three new products to Xbroker
Independent broker Moorhouse has added private motor, let property and a retailer’s product to its market leading online broker quotation platform Xbroker.