News
Bollington acquires FM Green
The Bollington Group has raised its premium income close to £70m following the acquisition of specialist motor trade broker FM Green.
Aon beefs up Moscow office in Eastern Europe expansion drive
Aon has employed Alexey Polyakov as reinsurance manager in its Moscow office with effect from 1 November 2006. Mr Polyakov was previously employed at Transsiberian Re.
Chubb rehires Willis broker as head of Specialty
Chubb Europe has hired Jeremy Miles as Head of Chubb Specialty Insurance (CSI) for UK and Ireland, where he will oversee various lines of business including: Directors & Officers, Crime, Professional Indemnity, and Financial Institutions.
ACE advises caution over mandatory pension trustee insurance.
ACE European Group has welcomed proposals by Brian Holden MBE that the Pensions Regulator should make Pension Trustee liability insurance mandatory. However the insurer also stresses that although this might be a useful step forward, this is no…
Link seals major underwriting deal
Link Insurance has successfully signed a deal with EURL Assurances Pilliot, an underwriting agent in France.
Glacier Re launches direct arm from Liechtenstein
Glacier Re the Swiss-based reinsurer founded in late 2004 has revealed it has started a direct insurance company, Glacier Insurance.
RSA splashes £38.5m on Martello Underwriting.
Royal & SunAlliance has bought Martello Underwriting for £38.5m.
Axa first primary insurer to securitise life Catastrophe covers
Swiss Re as announced that it has placed securities worth $442m to covering catastrophic mortality experience in France, Japan and the United States for the benefit of Axa.
Arista reveals launch team
Arista, the start-up underwriting operation launched by Charles Earle, the former Managing Director of NIG Commercial Lines, has announced further details of its core management team prior to business commencing next month.
Hannover re gets China licence
Hannover Re has received a licence from the China Insurance Regulatory Commission (CIRC) to transact life and health reinsurance in the People's Republic of China.
Novae syndicates' financial strength rating upgraded
Moody's Investors Service has changed the outlook of the A3 Insurance Financial Strength Ratings of Lloyd's syndicates 1007 and 2147 - Novae Syndicates Limited -- to positive. The company said this was due to the improving overall aggregate financial…
Allianz in high street retail schemes boost
Allianz Cornhill Schemes has extended its insurance book for leading UK retailer Argos to cover furniture.
AMII gives ARs full voting rights
The Association of Medical Insurance Intermediaries is to allow appointed representatives to become full voting members.
Allianz Cornhill's engineering director retires
Alan Harris, Allianz Cornhill's director of engineering, is to retire after 10 years running the division, the insurer has announced.
CII regional move applauded
The Chartered Insurance Institute aims to increase the support provided to its local institutes with the appointment of the first area marketing manager.
Fortis GWP up 15% for first nine months of 06
Fortis Insurance has reported an overall gross written premium of £520.6m for the first nine months of 2006. This figure represents a 15 per cent increase in year-on-year growth in GWP (£453.4m 2005), a statement said today.
Capita in massive CIS scoop
Capita Group today said that it has been selected as preferred business partner of Co-operative Insurance Services to deliver business processing activities in a ten-year strategic partnership worth 250 mln stg.
Cooter to leave RSA for distribution role at Brit
Brit Insurance has announced the appointment of Simon Cooter to the newly-created position of distribution director, UK Division. Mr Cooter takes up his post at Brit Insurance in March 2007.
CII appoints faculty operations manager
The Chartered Insurance Institute has appointed Neil Beattie to be its new faculty operations manager for the general insurance faculties.
Towergate buys Paymentshield
Towergate has purchased Paymentshield, the UK’s largest independent supplier of mortgage related general insurance products to the intermediary sector.
PXRE expense ratio tops 200% in 3Q
Troubled Bermudian reinsurer PXRE has announced results for the third quarter showing net income of $4.5m before convertible preference share dividends, favorable loss development and an increased book value, despite reporting an expense ratio of over…
RSA profits up 40% while combined ratio falls
Royal and Sun Alliance's third quarter results have seeen pre-tax profits rise by 40% to £590m between January and September - an increase of 21% on 2005.
MP warns FSA on advertising rules
Treasury Committee chairman John McFall MP has written to the Financial Services Authority to express concern about the FSA’s regulation of financial advertising.
Ask the expert
I am keen to escape the rat race in London and have heard that the insurance sector is particularly strong in the North-west. Can you tell me more about current opportunities?