News
McManus heralds new chapter at Willis
Willis has confirmed that Royal and Sun Alliance managing director of broker, Brendan McManus will join as part of a wider restructrure.
IGI confirms its sale to US firm Amtrust
IGI Group has confirmed that it has been acquired by AmTrust Financial Services, as revealed by Post (5 April 2007, p1).
Pinsent Masons hires ex-Clifford Chance insurance expert
Pinsent Masons, has appointed a new partner in its insurance and reinsurance group. Colin Read, who joins the firm from Clifford Chance in the summer, specialises in large-scale insurance and reinsurance disputes for a variety of insurance sector clients…
EL market recovered but rate rises needed
The UK employers’ liability insurance market has recovered from an earlier crisis which saw gross written premiums fall in 2005 and 2006, according to a new report by Datamonitor.
Swinton profits rise 26%
Swinton has announced record profits and its sixth consecutive year of growth with a 26% increase in its surplus.
Chubb places $250m East Lane Re Cat bonds
Global specialist insurer Chubb has bought securitised reinsurance worth $250m to protect its Northeastern US hurricane exposure over a four-year period, a ratings note from agency AM Best reveals.
Chubb appoints Midlands' development manager
Chubb Insurance has appointed Harry Brown as branch development manager at Chubb’s Midlands office.
McManus quits RSA to take Willis helm
Brendan McManus, Royal and Sun Alliance's managing director, broker division is to leave the insurer to become chief executive of Willis UK and Ireland.
Recently rebranded insurer nets £100m deal
Recently rebranded mutual insurer LV has completed a deal with Help the Aged, the charity for older people, to offer personal lines insurance primarily to the over 50s market. It predicts the deal could be worth £100m alone in the medium term.
Commercial rates continue to fall survey claims
According to the Risk and Insurance Management Society Benchmark Survey, the first quarter of 2007 reflected a continuation of the same commercial insurance pricing trends reported in 2006.
Hyperion revenues grow to £34m
Hyperion has reported increases of 24% in turnover and 37% in operating profits, for the year ending 30 September 2006.
IUA hopes website will create 'virtual communities'
The International Underwriting Association (IUA) has updated its website in a bid to create an onlin...
Allianz launches first UK flood-risk catastrophe bond
The first catastrophe bond to cover British flooding has been issued by German insurance company All...
Capita announces £32m CMGL buy
Capita Group has acquired London Market claims-outsourcing specialist CMGL from Sovereign Capital Pa...
IPO raises $111m for CastlePoint
CastlePoint Holdings has floated on the NASDAQ Global Market with an initial public offering (IPO) o...
European (re)insurance body responds to EC investigation
The Brussels-based European (re)insurance industry representative organisation, Comite Europeen des ...
Lloyd's rating raised to 'A+' by S&P
Rating agency Standard & Poor's (S&P) has raised its strength rating of the Lloyd's insurance market...
Lloyd's unveils new Chinese development
The Lloyd's market has boosted its fledgling Chinese reinsurance operation with deals to ensure busi...
Max Re finalises US specialty deal*
Max Re's US subsidiary has announced the completion of the acquisition of a US-based excess- and sur...
Benfield places 98% of Japanese renewals electronically
Leading broker Benfield has placed almost all its second-quarter Japanese renewal business electroni...
Xchanging to float on LSE
Business-process outsourcing specialist Xchanging is all set to float on the London Stock Exchange. ...
Lloyd's announces $7.2bn profit for the year ended 2006
Specialist insurance marketplace Lloyd's has announced profits of £3662m ($7.2bn) for 2006.The profi...
Captive popularity on the rise in UK, says Marsh
UK companies are increasingly considering captive formation, driven by a desire to implement sophist...
SCOR takeover battle for Converium runs on
French reinsurance company SCOR has announced the European Commission (EC) has approved its hostile ...