News
Holmans sets up new arm
Lloyd’s broker John Holman and Sons is creating a new division to handle all of its binding authority business.
Oxygen appoints trio for financial lines PI
Oxygen Insurance Brokers has recruited three professional indemnity specialists as part of its strategy to grow its financial lines business.
RMS: Summer floods to cost up to £3.25bn
The June and July floods that gripped parts of the U.K. could cost insurers between £2.25 billion and £3.25 billion in total, according to latest estimates by Risk Management Solutions.
Exec promotions at direct commercial
Motor fleet specialist Direct Commercial has announced the promotion of three key personnel to senior positions, led by Bob Crothers who has been made managing director.
PXRE merger with Argonaut approved
PXRE shareholders have voted to approve the issuance of common shares of PXRE as contemplated by the previously announced plan to merge with Argonaut Group.
UK non-life insurance industry faces loss
The UK non-life insurance industry will face a significant loss this year – leaving its overall underwriting result in red, according to Standard and Poor’s.
New Oval MD takes swipe at mulit-nationals
Oval has appointed Peter Matthews regional managing director of the East Midlands.
Advent bemoans weakening dollar
Advent has reported profit before tax of £6.7m for the first six months of 2007, a fall of £3.7m on the first half of 2006. However, the catastrophe reinsurance specialist pointed out that last year's figure included a foreign exchange profit of £4.4m…
Beazley boosted by US GWP
Lloyd’s insurer Beazley this morning reported a profit before tax of £60.2m (2006: £28.3m) for the six months ending 30 June 2007 on gross premiums written up 10% to £434.1m (2006: £394.3m).
Arista adds to product portfolio with contractors combined
Arista, the commercial lines underwriting organisation, has launched a Contractors Combined policy following the launch of its Tradesmen and Professionals product earlier this month.
Law firm warns over flood clean up
Flood-affected companies whose staff get involved in cleaning-up their business premises must consider very carefully all the potential health and safety risks before any work begins, even if this means slowing down the process, law firm Reynolds Porter…
Cobra makes post AIM acquisition
Cobra Holdings has exercised an option to acquire the share capital of commercial broker Tubbs Insurance Services.
PMI becoming popular with younger people
Higher expectations of healthcare in the UK are leading to the acceptance of private medical insurance, especially within the 18-24 market, according to a survey by Bupa.
Training and Competence to become more principles-based
The Financial Services Authority (FSA) has confirmed the introduction of a more outcome-focused and flexible Training and Competence (T&C) regime - including a new, shorter, simpler and more principles-based T&C Sourcebook.
Fortis to expand team by 50% in new broker assault
Fortis is set to increase the size of its broker team by 50 per cent over the coming months. In a reorganisation of its sales force, Fortis has created 12 districts throughout the UK, each with a broker relationship manager. Steve Berry and James Astle -…
50 000 claims received after floods, says ABI
Insurers are currently handling over 50 000 claims following the recent floods, as well as the earlier flooding in Yorkshire, said the Association of British Insurers.
Gocompare issues flood warning
Insurance comparison site Gocompare.com says almost 30% of UK drivers may not be covered if their car is subjected to flood damage.
Ace bolsters D&O business with new UK boss
Ace UK has promoted Diane Davidson to UK & Ireland D&O regional manager. Ms Davidson will be responsible for the development and management of all UK regional business for D&O, pension trustee liability and employment practices liability classes.
Comparethemarket.com appoints managing director
Comparethemarket.com has announced that Kal Samra has been appointed to the role of managing director for the business.
Aspen reports rise in net income
Aspen reported second quarter earnings per share up by 18% with net income up 13% for the quarter and half year ended June 30, 2007.
Chaucer predicts motor upturn as it sets syndicate forcecasts for 2008
Chaucer Syndicates, the managing agency of Chaucer Holdings, has submitted business plans to Lloyd’s for Syndicates 1084 and 1176 for the 2008 year of account.
Brown joins Oval
Oval has appointed Andrew Brown as a non-executive director in a bid to increase its commercial and regulatory expertise.
Navigant acquires Troika
Consulting firm Navigant has signed a binding agreement to acquire Troika – a UK financial services consultancy.
Former NU exec heads broker's new commercial comparison website
Bolton based wholesale broker U K Facilities has launched a commercial comparative online website.