News
New corporate start-up targets 5% market share
Benfield formally launched its new primary broking operation this week, with the stated ambition of ...
Director swaps RSA for RBSI
Royal Bank of Scotland Insurance this week revealed more high-profile comings and goings. NIG's man...
Beazley to rethink capacity after Katrina
Beazley Group has confirmed that it will be rethinking its strategy to drop capacity for 2006 in the wake of Hurricane Katrina.
Helphire appoints R&R founder as MD
Helphire Group has appointed Martin Ward managing director of Albany, following the company’s acquisition in October 2004.
Hurricane Katrina’s impact by industry sector.
Aon has commented on the effects of Hurricane Katrina on various sectors of the industry including Oil & Gas, Agribusiness, Transportation, Aviation, Property, Security and Film and Television.
GAB Robins director quits for Capita post
GAB Robins' construction risks director Jack Chisholm has resigned and is leaving the loss adjuster in the near future, to join rival Capita's subsidiary Teceris.
Earle quits NIG
NIG managing director of commercial lines Charles Earle has left the insurer, part of RBSI group since its acquisition of Churchill.
Katrina possibly biggest ever hit on market, claims Brit CEO
Losses from Hurricane Katrina could be the largest ever to hit the (re)insurance market, according to Dane Douetil, chief executive of Brit.
Global reinsurance sector stable, claims Fitch
Fitch Ratings’ latest global report has maintained its Stable rating Outlook on the Global reinsurance sector.
Goshawk joins market in predicting "substantially improved rates" in Katrina's wake
Goshawk has estimated that as a result of Hurricane Katrina it will incur losses on its property and marine books of business.
Brokers warned over client money controls
The financial and insurance consultant Moore Stephens has published a warning to brokers and other intermediaries to check that their systems and controls covering the treatment of client money and meet the regulatory requirements laid down by the…
No trade sale or MBO for GAB after review
Investment company Brera has confirmed that the international operations of its loss adjusting subsidiary GAB Robins will remain with the company after completing a strategic review. The international adjusting arm which includes the UK business had been…
Insurance companies need to take notice of their CSR
Supporting customers and clients are central to achieving a sustainable corporation. Insurance companies have a specific role to play in setting boundaries and incentives for business and customers through policies and advice. The insurance industry also…
Katrina: RSA expects £25m hit
Royal & Sun Alliance has estimated £25m of claims resulting from Hurricane Katrina. The company's shares rose slightly on the news to 97.35 pence.
CIS awards two year contract to Universal Salvage
Universal Salvage, the vehicle salvage and auction services group, has announced its subsidiary, Userve Limited has secured a contract with Co-Operative Insurance Society to provide salvage management and disposal services throughout the UK.
Brit expects Katrina to "extend the hard market" as it reports £112.2m profit
Brit today reported profit before tax of £112.2m, up 61.0%, for the first six months of 2005. It added that it believes Hurricane Katrina would help extend the hard market, and that “Brit is extremely well positioned for the opportunities that this price…
Lloyd's auctions on despite market uncertainty
Lloyd's admitted it was under pressure from managing agents to cancel or delay the market's annual auctions, due to begin today, because of losses arising from hurricane Katrina.
Admiral seeking growth overseas
Motor insurer Admiral said it "continues to investigate opportunities outside the UK", after reporting record interim profits and strong growth in turnover.
Wellington hurricane losses equal to entire '04 season
Lloyd's insurer Wellington Underwriting has estimated a net loss of $75m (£40.7m) from hurricane Katrina, which is comparable to the losses it incurred from the entire 2004 hurricane season.
Katrina: Newspaper damage estimates are
Sunday newspaper figures estimating insurer losses for Hurricane Katrina are wildly misleading because “information is scant” according to Joe McMahon, managing director of loss adjustor Bateman Chapman.
Ace's latest loss protection product unveiled
Leading insurer ACE European Group has launched Computerguard, the latest in its suite of loss protection products to cover financial losses relating to IT hardware and system problems.
Admiral expected to post £50m+ profit in tomorrow's interims
Motor insurer Admiral will announce results for the six months ended 30 June 2005 on Tuesday 6 September 2005. The consensus market expectation is for the Group to report a 2005 interim core profit of £56.6 million.
Child arsonists targeted by new crackdown
Zurich Municipal and Cunningham Lindsey have launched a ‘name and shame’ initiative to deter graffiti, vandalism and arson in schools.
McLarens Young incorporates in Japan
McLarens Young International has announced the formation of a new company; McLarens Young Japan YK, with its first office in Japan.