News
Protectagroup appoints new finance director
Wales’ largest independent insurance company has appointed a new finance director to help take the company through to future flotation.
BHSF signs new deal with Vauxhall
BHSF has signalled its relief at signing 5,000 policies from Vauxhall motors so soon after losing half that number when MG Rover collapsed.
UK & Ireland makes Oval acquisition
Cover4Students, the online student insurance specialist has doubled in size after its acquisition of Saxon Insurance from the Oval Group for an undisclosed sum.
Alea announces capital raising plans after profit slump
Troubled insurer/reinsurer Alea Group has confirmed it is still in talks with its advisors to raise additional capital in response to A.M. Best’s concerns overits risk-adjusted capital position. It said the capital required will be approximately $210…
Atrium confident despite Katrina
Atrium Underwriting has released its latest 2003 year of account and 2004 pure year of account forecasts for the two syndicates (570 and 609) managed by its managing agent subsidiary, Atrium Underwriters Limited, and for itsunderwriting portfolio of…
Munich Re estimates its Katrina loss at €400m ($488m)
Munich Re has put a figure of $15bn-$20bn on the one hundred percent insured loss arising from hurricane Katrina and estimates it will end up paying €400m ($488m) for its share.
Lloyd's statement on Hurricane Katrina
"Lloyd’s expects to receive significant insurance claims as a result of Hurricane Katrina, predominantly in relation to offshore energy installations in the Gulf, property damage and business interruption.
Lloyd's rating: Fitch decision
Fitch Ratings, has affirmed Lloyd's of London's Insurer Financial Strength (IFS) rating of 'A'.
FSA takes action against 130 companies
The Financial Services Authority's work over the past year to maintain standards among smaller financial firms saw more than 130 firms take corrective action to the way they operate, a statement said today.
JLT backs London market initiative
Jardine Lloyd Thompson has become the fourth broker and 21st business to back Kinnect, the electronic platform which exchanges risk data and wordings between brokers and underwriters.
AIR puts initial Katrina estimate at $12bn-$26bn
AIR Worldwide estimates that Hurricane Katrina could cost the insurance industry between $12 and $26 billion.The insured losses caused by Hurricane Katrina are likely to make it one of the two worst natural catastrophes in US history.
Fusion cuts time it takes to protect businesses through continuity planning
Fusion Insurance has cut the time it takes to for businesses to develop their own bespoke business continuity plan by upgrading their free online planning tool.
Avery appointed Cox chairman
Cox Insurance has appointed former Wellington Underwriting chief executive Julian Avery as its new Chairman.
Equitas makes $300m settlement
Equitas announced today that it has agreed settlements with a further 6 major policyholders at a total cost of $300 million. Included within these agreements are settlements with Kaiser Aluminum Corporation, Crane Company and Congoleum Corporation.
Loss estimates of $10-25bn from Hurricane Katrina
Reports have claimed that over 50 people have been declared dead after violent tropical storm hit the Gulf Coast of the US. In response, Risk Management Solutions has given a preliminary estimate of $10 to $25 billion in total insured losses from…
GE reaffirms (re)insurance sell-off plan
General Electric (GE) is reportedly planning to sell off all of its remaining (re)insurance operations.
Towergate Partnership sets launch date
The Towergate Partnership will be formally created at the end of October after it received approval from the Financial Services Authority.
Insure and Go secures new travel partner
Intermediary Insure and Go has added First Assist as one of its travel insurance providers.
Hurricane Katrina swipes Florida
Hurricane Katrina has hit south-east Florida, killing at least three people and leaving hundreds of thousands of homes without electricity. Flooding has been predicted in many areas due to very heavy rain.
Typhoon Mawar hits Japan
A powerful typhoon has struck near Japan's capital, Tokyo, killing one person and injuring at least two.
Allianz in twin success
Allianz Cornhill Schemes has secured a double new business win.
Fortis GWP creeps up, but motor book falters
Fortis Insurance UK has reported overall gross written premiums for the second quarter 2005 of £297m, an increase of 1% over the same period in 2004 (Q2 £294m).
Kiln raises 03 & 04 syndicate forecasts
Lloyd's insurer Kiln has issued its syndicate forecast results as at 30th June 2005 for the 2003 and 2004 years of account to Lloyd’s.
Axa predicts increased IFA uptake of its protection business
The use of tele-underwriting by IFAs to transact protection business will grow rapidly in the next 12 months, according to new research from AXA.