News
Beazley in new mid-market drive
Beazley has announced plans to begin underwriting commercial property business on an admitted basis from 19 February. The Lloyd's insurer said its aims to offer mid-sized clients service previously familiar only to the largest insurers.
European insurance boss addresses business insurance public inquiry
Gérard de La Martinière, President of CEA, the Brussels-based representative organisation for the European insurance and reinsurance industry, today participated at the European Commission’s public hearing which was held to gather reactions to the…
PXRE default cost on dead A&W Cat bond could hit $53m
In an SEC announcement troubled Bermudian Cat specialist PXRE has revealed that it could be on the hook for up tp $53.4m in termination charges for failing to pay the premiums due under retro deals with Atlantic and Western Re Limited, the Cayman vehicle…
Consolidator rebrands major acquisition
Following the merger one year ago, Reading-based corporate consultancy, Goss & Co, is rebranding to adopt the livery of parent company, Jelf Group.
Onlyinsurance.co.uk launches with 28-strong panel
Only Insurance.co.uk, a new concept in online home, motor and travel insurance, is set to radically shake up the aggregator sector when it goes live next month.
Aspen forges ahead in bumper 06
Bermudian (re)insurer Aspen has unveiled a vintage year, with net income of $378.1m for 2006 on a combined ratio of 82.4% for the group.
MMA in major EDI roll out
MMA Insurance today announced plans to develop and launch five full-cycle EDI personal lines products on Sirius, over the next twelve months.
Zurich boss retires
Zurich Financial Services today announced that after more than 25 years of dedicated service to Zurich, Peter Eckert will be retiring effective February 28, 2007.
Admiral announces major tie up
Drakefield Insurance Services has linked up with Admiral Group to provide travel insurance across a number of the Admiral brands.
Hannover Re submits claim under Eurus Cat bond
Hannover Re's Eurus Cat bond has become the third insurance securitisation to be potentially affected by windstorm Kyrill.
Hannover Re happy with renewals despite market peak
Global reinsurer Hannover Re has announced that it is happy with its showing in the 1/1 renewal season, growing its P&C top line modestly over the period.
Mapfre Re 2006 profits double on benign loss ratio
Spanish reinsurer Mapfre Re has reported net profits of €77m ($100m) for 2006, more than double the result of the previous year.
UK poultry exporters left exposed by foreign rejection
The outbreak of bird flu at a Suffolk turkey farm has triggered a trading crisis for British poultry companies who export around the world according to Aon.
Target acquires Harlosh
Harlosh has been acquired by Target Group, the financial software and services organisation operating in the consumer and commercial loan markets. The enlarged Target Group will now be one of the largest privately-owned systems and services providers in…
Endurance reports record results for 2006
Bermudian (re)insurer Endurance has announced a net income of announced a net income of $198m in the fourth quarter 2006, producing a record $498.1m for the full year.
CoA ruling sees local authority payments deducted from damages
The Court of Appeal ruled today in the case of André Crofton v The National Health Service Litigation Authority that if a person seeks and obtains payments from his local authority to pay for some or all of his care needs, then those payments must be…
"Poor" snow conditions result in thousands of injuries
According to travel insurance specialist InsureandGo, the current poor snow conditions in Europe have resulted in thousands of injuries on the slopes.
Adjuster in liability hires
Sigma Claims Solutions, the specialist liability adjusting company, has appointed Dale Hackett as senior liability adjuster and Ross MacKay as trainee liability adjuster.
Willis ups underlying net income 37.8% in 2006
World number 3 broker Willis has reported net income for the 2006 year of $449m, compared with $281m a year earlier.
Pru launches assault on poor claims record in protection
Prudential has attacked the protection market's poor record for paying claims, and has launched its own flexible protection plan in a bid to win market share.
Beazley signs capacity deal with Edgewater
Beazley has signed a deal with Edgewater Holdings, for the agency to place its entire employment practices liability insurance portfolio with the Lloyd's insurer.
Web-based Easy Placement launches
Easy Placement, a web-based software programme that enables brokers to communicate with underwriters over the Internet is launched today by Web Connectivity, the provider of standards-based messaging software for the commercial insurance industry, and…
PwC: Pension scheme deficits understated
Enormous unexplained variations remain in the results of actuarial valuations to determine pension s...
UK stress-drinking rises
More Britons than ever are turning to alcohol to relieve stress, according to a new survey. In the ...