News
Admiral warns rivals they face loses
Motor insurer Admiral today said that its plan to “decelerate growth” was going to plan, but warned of a difficult second quarter to 2005 if the market does not adjust to accomodate claims inflation.
Apil questions Compensation Bill
The Association of Personal Injury Lawyers has claimed the upcoming Compensation Bill must include steps to promote better education to reassure the public that they cannot be sued when genuine accidents happen.
CIS GI director to leave organisation
Andy Watson, CIS general insurance director, is to leave the organisation to take up an external appointment.
THB turnover rises 3%
THB Group plc, the parent company of Lloyd’s broker Thompson Heath & Bond has reported a profit before tax of £2.2 million for the year ended 30 April 2005 on turnover up 3 per cent to £32.4 million.
Willis releases construction market overview
Willis Group Holdings has released its 2005 Global Construction Market Overview. The report is a comprehensive analysis of the worldwide construction insurance market and includes commentary from various global market centres on market conditions…
RenRe executive quits over SEC subpoena
RenaissanceRe Holdings has announced that Michael Cash, an executive in its specialty reinsurance unit, has resigned following his refusal to accept a subpoena from the US Securities and Exchange Commission (SEC).
RMS issues Dennis damages estimate
Risk Management Solutions (RMS) has announced that insured losses from Hurricane Dennis are likely to be between $1bn and $5bn.
Broker Network acquires Lincolnshire companies
Broker Network Holdings has announced the goodwill and asset purchase of two brokerages - Harrow Insurance Consultants, of Wrawby, Lincolnshire, and David Christian Insurance Brokers, Waltham, north east Lincolnshire.
Hardy stresses Omega will have to up offer
Hardy Underwriting has welcolmed the Takeover Panel’s deadline for Omega to make a formal offer for the company.
Broker network profits up 63%
Broker Network Holdings has announced its preliminary results for the year ended 30 April 2005.
Marsh reveals new chairman
Broker Marsh today announced the appointment of Sir Peter Middleton to the newly created role of non-executive UK chairman for the next three years.
Burrows moves to CMGL from Capita
The Claims Management Group (CMGL) has appointed Mike Burrows as business development executive for its London Market Division.
Omega welcomes Hardy deadline, claims to have shareholder support in principle
Omega has responded to the ‘put up or shut up’ deadline by the Takeover Panel by admitting it is still holding “informative and positive dialogue with Hardy shareholders”.
GAB Robins issues first adjuster statement since attacks
GAB Robins - the nominated adjuster for Transport for London - has said it activated its Disaster Plan as a result of the shocking events on Thursday 7 July.
Regulator tells Omega to 'put up or shut up' over Hardy approach
Lloyd’s insurer Omega has been given just over a fortnight to either ‘put up or shut up’ with regards to its proposed acquisition of larger rival Hardy.
Moody’s pulls financial strength rating for Sompo Japan
Moody's has announced that it has withdrawn the Insurance Financial Strength Rating (IFSR) of Sompo Japan Financial Guarantee Insurance (SJFG).
Hiscox disposes of shareholding
Lloyd’s insurer Hiscox this morning announced that its subsidiary, Hiscox Insurance Company (Guernsey), has disposed of a 49 per cent interest in Heritage Group.
Industry bodies combine to push brokers on MID
The Motor Insurers' Bureau has joined forces with BIBA, IIB and the ABI in urging brokers to supply policy information to insurers more quickly. A new form has been devised to assist manual business brokers in gathering key policy details for the Motor…
AIR releases first estimate of Dennis damage
AIR Worldwide has announced that it estimates insured losses in the United States from Hurricane Dennis will be between $1bn to $2.5bn.
Lord Hunt steps down in Beachcroft shake-up
Simon Hodson has been appointed senior partner elect of Beachcroft Wansbroughs, following David Hunt's decision to stand down after ten years. Currently head of the Commercial Division, Mr Hodson will formally begin his tenure on 1 August2005.
Chubb Europe unveils speciality lines boss
Stephen Blasina has been appointed to the position of manager, Chubb Specialty Division in Europe.
London blast to claim at least 50 lives
The London bombs yesterday morning are expected to claim at least 50 lives, the head of the Metropolitan Police has said today. Sir Ian Blair said there were a number of bodies still in the underground train near Russell Square station but that the final…
RSA receives welcome ratings boost
Fitch Ratings has upgraded the Insurer Financial Strength rating of Royal & Sun Alliance Insurance to 'BBB+' from 'BBB' and the Long-term rating to 'BBB' to from 'BB+'. The rating Outlook is Stable.
Hurricane Dennis threatens US
Hurricane Dennis has been upgraded to a Category Four hurricane as it approaches the Gulf of Mexico.