News
Countrywide in commercial broker move
The Countrywide network has extended its partner broker initiative to cover commercial business.
Crawford launches environmental pollution cleanup business
Crawford & Company UK has announced the launch of Crawford Environmental Pollution Claims Services, a direct response to increasing environmental legislation, specifically, the Environmental Liability Directive .
Bush Administration threatens veto for TRIA extension
The Bush Administration has issued a statement calling for serious amendments to the latest extension of the Terrorism Risk Insurance Act (TRIA) Federal terrorism backstop legislation making its way through the US Congress or it would recommend the…
Insurers face up to $200m Humberto losses
Insured wind losses from Hurricane Humberto could reach $200m, catastrophe risk modelling company AIR Worldwide has estimated.
Omega bet on US pays off in first half
Lloyd’s, Bermuda and US (re)insurer Omega Underwriting has unveiled interim results showing profit before tax up 119% to $20.4m (2006: $9.3m) on a benign combined ratio of 82% (2006: 86%).
Butterworth leaves Liberty for start up
Pembroke Managing Agency has appointed Liberty Syndicates chief operating officer Mark Butterworth as managing director with effect from 1 November 2007.
Bupa UK Insurance profits fall by £9m
Bupa has reported revenue from continuing operations was up 10% to £2.1bn in the first half of 2007 with the health insurer producing an underlying surplus before tax of £172.4m, up 23%.
Evolution appoints business development executive
Evolution Underwriting has appointed Angie Mugford as business development executive.
Atrium profits increase to £23.8m
Atrium has announced its final set of numbers before delisting and completing its acquisition by Ariel, with a profit before tax of £23.8m for the first half of the year (30 June 2006: £7.9m).
St Pauls to beome Travelers in the UK
St Paul Travelers has confirmed its intention to adopt the Travelers trading name and red umbrella logo of its US parent in February 2008.
Thompsons calls for ABI tracing scheme to be scrapped
The Association of British Insurers tracing scheme should be scrapped in favour of an independent scheme, Thompsons Solicitors has told the Department of Work and Pensions.
Kennedys plans Manchester office
City law firm Kennedys has announced plans to open an office in Manchester.
Meacock becomes 11th Lloyd's player in China
Lloyd's has announced that S.A. Meacock has become the latest managing agent to join Lloyd’s China platform.
Corpore boss in sudden departure
Nick Patterson, managing director of Corpore, has left the business with immediate effect. No reason has been given for his departure.
Biba launches medical malpractice scheme
The British Insurance Brokers’ Association has partnered with FSJ to launch the BIBA Medical Malpractice Scheme.
Co-op reports insurance profit despite £55m weather losses
Co-operative Financial Services has announced a general insurance technical profit of £22.6m (2006: £18.9m) for the 28 weeks up to 28 July 2007, with an improving combined ratio.
Allianz seeks to pre-empt MoJ fast track proposals
Allianz Insurance is to make changes to its claims investigation team ahead of anticipated changes to the processing of fast-track cases.
Experts commend FSA approach to solvent schemes review
Speaking at the Association of Run-Off Companies on 14 September, Beth Rees and Paul Taylor, of the run-off supervision team at the Financial Services Authority, outlined the regulator’s approach in reviewing proposals to issue schemes of arrangement to…
Arag in North West deal with Stephensons
Arag is developing its activity in the North West after signing a deal with five office law firm Stephensons to provide after-the-event legal expenses insurance.
Aquilo's Airs acquired by Rok
Rok, a building, maintenance and development company, has acquired the trade and certain assets of Aquilo Inspection and Reinstatement Services for a cash consideration of £2.1m.
Marsh chief Storms out
MMC has announced that the chief executive of its broking arm, Brian Storms resigned with immediate effect late on Friday 14th September.
The Indie Trial: Lomas took courier job to make ends meet
The former finance director of Independent Insurance Dennis Lomas lost a personal fortune of more than £2.2m in shares when Independent collapsed, and resorted to working as a courier for three years. To read more on this story and for regular updates on…
Lomas took courier job to make ends meet
Dennis Lomas lost a personal fortune of more than £2.2m in shares when Independent collapsed, and resorted to working as a courier for three years. Stephanie Denton reports.
Cross examination
Prosecution counsel Andrew Baillie QC, began his cross examination of former finance director of Independent Insurance Dennis Lomas today and told the jury he would attempt to prove that some of the things Mr Lomas had told them were not true. Stephanie…