News
"Weatherproof" Hannover Re exceeds H1 targets
Global reinsurer Hannover re posted strong 1st half results, growing gross premiums by 12.8% and producing a return on equity of 19.9% after tax despite reducing exposure in peak zones.
Acumus launches online let property insurance solution
An on-line solution for the let property insurance market has been launched this week by broker partnership specialist Acumus Insurance Solutions.
New MD and CFO in White Mountains reshuffle
Bermudian reinsurer White Mountains Re has announced several senior management appointments. Chuck Chokel, previously Managing Director and General Auditor at White Mountains Insurance Group, Ltd. has become Managing Director and Chief Financial Officer…
Aspen appoints President and COO
Bermudian (re)insurer Aspen Insurance Holdings has announced the appointment of Stuart Sinclair as President and Chief Operating Officer of Aspen. In connection with his appointment, it is expected that Mr. Sinclair also will join the company's Board of…
Defra publishes coastal risk management proposals
Changes to the way the risk from sea flooding and coastal erosion is dealt with on the coast are being proposed in a Defra consultation published today. The proposals aim to strengthen existing arrangements to help achieve more effective and sustainable…
UKI signs three year deal with Saab
UKI Partnerships has teamed up with SAAB in a three-year contract to provide motor insurance to owners of the prestige marque.
Industry bodies issue TCF guidance
In response to the regulator's ‘Treating Customers Fairly’ initiative, joint guidance has been issued today by the three leading industry associations to clarify the main areas of responsibility for insurers and brokers when selling general insurance.
Jelf appoints Canwell as corporate healthcare MD
Jelf Group has appointed Mark Canwell as managing director of Jelf Corporate Healthcare.
S&P warns of price pressure in UK motor
The UK motor industry has enjoyed a period of stability and profitability over the past few years, but this will not continue without price rises, according to a report " U.K. Motor Market Continues To Report Profits, But Underlying Data Show Significant…
Lancashire reports £22m profit
Startup reinsurer Lancashire has reported operating income of $42.7m (£22m) for the first half of 2006.
Cowburn takes up Biba regional role
Mike Cowburn, director of Towergate Risk Solutions in Ilkley, has been appointed a board member of the British Insurance Brokers Association, representing the Yorkshire and Northern region. The 12-strong BIBA board, chaired by Max Taylor is made up of…
Willis acquires Chilean broker MGT
Willis has entered into a contract to purchase the majority of the retail and all the reinsurance business of MGT Group. Located in Santiago, Chile, MGT has annualized revenues of approximately $4m (£2.09m).
Bankstone and SSP unveil online claims validation 'first'
Broker software house SSP has produced what is claimed to be the first instant online validation system for a claims firm's call centre.
Beachcroft launches motor prosecutions unit
Law firm Beachcroft has formally launched a dedicated motor prosecutions unit to advise and represent motor insurers and their policyholders on the handling of very serious or fatal road traffic accidents that lead to criminal prosecution and trial.
More Than launches young driver policy
MORE TH>N is launching a new young driver policy – DriveTime – on 6 August 2006, to reduce accidents and change the way young drivers use Britain's roads.
NFU Mutual adopts Myners Review recommendations
Customers of rural insurer NFU Mutual will have greater involvement in the company following the establishment of seven new regional boards.
Government launches travel insurance inquiry
The Economic Secretary to the Treasury, Ed Balls, today announced a new inquiry into the sale of travel insurance purchased as part of a package.
Vandals cost UK businesses £620m a year
Petty criminals and vehicle vandals are costing UK businesses £620 million a year, according to figures released by insurer Royal & SunAlliance.
Lloyd's issues broker research paper
Insurance brokers believe that changing distribution trends present them with both their biggest challenge and their greatest opportunity, new research reveals.
Swiss Re posts first half profit
Swiss Re has reported successful first half 2006 results with net income of CHF 1.6bn, up 16% compared to a strong first half of 2005. Annualised return on equity was 13.9% and shareholders’ equity increased 18% to CHF 27.1bn.
Wellington claims Avian flu policy first
Wellington Underwriting Agencies, a wholly owned subsidiary of Wellington Underwriting and manager of Wellington Syndicate 2020 at Lloyd’s, today announced the launch of a new underwriting product, Avian Influenza business interruption insurance. This…
RBSI sees 14% growth in continental policyholders while UK remains "broadly stable"
Royal Bank of Scotland Insurance today revealed that its income rose 3% to £2761m, with profit up 4% to £453m.
Lloyds TSB Insurance profits up 21%
Lloyds TSB Insurance has reported double digit growth in profit before tax up 21 per cent (£20 million) to £114 million during the first half of the year. The company said its results reflect continued progress made in the implementation of new…
IIB launches online trading facility
The Institute of Insurance Brokers has launched an on-line trading facility for its members.