News
CIS in Axa tie-up
Co-operative Insurance Society has announced the appointment of Axa Real Estate Investment Management REIM (UK) as external fund manager for CIS’ £2.5 billion external property fund portfolio.
Hardy shareholders dismiss Omega's offer as "potentially damaging"
Lloyd’s insurer Hardy has revealed that its shareholders were against a takeover by Omega because it would have resulted in a “potentially damaging period of uncertainty for the company”.
ABI hails ‘pragmatic’ resolution to costs war.
The announcement by the Civil Justice Council of agreement on the level of success fees in employers’ liability disease claims is a pragmatic resolution to the “costs war” says the ABI (Association of British Insurers).
HL in insurance first for stroke survivors
Heath Lambert Affinity Partnerships has launched a new service for stroke survivors with The Stroke Association.
Broker Network shells out £2.85m for Fraser Tennant
The Broker Network has announced its largest acquisition to date, paying £2.85m for Fraser Tennant Holdings of Stirling, Scotland.
HSA seals deal for £2m Adastral
HSA Group has acquired occupational health provider, Adastral Health, based in Reading. HSA said it will "provide Adastral with resources for growth", enabling the business and its management to expand in this relatively undeveloped but rapidly growing…
Omega not given up on Hardy deal
Lloyd’s insurer Omega has not given up on a potential merger with larger rival Hardy despite the latter announcing talks between boths parties have terminated.
Success fees set for EL disease claims
The Civil Justice Council has announced that agreement has been reached on fixed recoverable success fees for Employers Liability (Disease) claims.
Food makers unprepared for inevitable crisis says Aon
Companies in the food, drink and tobacco sector are under-prepared for major business threatening incidents according to a new survey by Aon.
JLT refuses to back down on MSAs
Jardine Lloyd Thompson (JLT) has commented on the recent statement by AIRMIC on broker remuneration calling for disclosure of brokers’ earnings across the UK insurance industry.
Lloyd's looking for volunteers
On Thursday 7 July, the Lloyd’s Community Programme is hosting its third annual volunteer information fair, to encourage members of the market to volunteer to help primary and secondary pupils in Tower Hamlets.
Atrium planning up to 20% capacity reduction
Lloyd's insurer Atrium is giving its trading update this afternoon, and has confirmed a reduction in capacity for 2006.
Chaucer announces bid for Syndicate 1084
Chaucer Holdings has announced an offer by ALIT (No. 1), a wholly owned subsidiary, to acquire the balance of £7.9m of capacity on Syndicate 1084, which Chaucer does not already own. The Offer is in respect of capacity for 2006 onwards and does not…
NIG highlights broker consolidation in Leeds
Consolidation among brokers in Leeds and Yorkshire generally is further evidence of a growing national trend, according to David Grant, NIG’s Director of Marketing and Compliance.
Hardy rejects Omega approach as talks collapse
Hardy Underwriting's talks with Omega over a proposed take over the business have collapsed, the Lloyd's insurer said, citing Omega's failure to increase its offer as the main reason.
US Treasury issues TRIA comments
The US Treasury has released a new report on the Terrorism Risk Insurance Act (TRIA) that does not support its extension beyond the December 31 2005 deadline without significant amendments.
CII seeks young general insurance professional
The hunt is on for the 2005 Sheikh Abdullah Foundation Young General Insurance Professional of the Year, with £3,000 up for grabs.
Pension problems prompt regulator to issue new code
The Pensions Regulator has issued its code of practice on Notifiable Events - following situations including the application by broker Heath Lambert to hand over its crippled pension fund.
Vega makes Essex office expansion move
Essex-based Parkwood Sinclair Insurance Brokers, part of the Vega Group, recently celebrated its move to new and larger offices in Billericay.
Local authorities express fraud worries
Local authorities feel they are facing an increase in fraudulent insurance claims according to new research released today by Zurich Municipal.
AM Best affirms Mapfre Re ratings
AM Best has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of the US-based Mapfre Reinsurance Corporation (Mapfre Reinsurance). Both ratings have a stable outlook.
L and G strikes major household distribution deal
Legal and General General Insurance has been chosen by John Charcol, the mortgage broker, to be the sole-provider of household and buy-to-let insurance cover.
Marsh targets SMEs with new division
Broker Marsh has created a new division, the Risk Trading Practice, to focus on the risk and insurance needs of small and medium sized companies. It has appointed Ron Hayes as executive director to lead the new arm.
Winners and Losers: Post Magazine's monthly round-up of job cuts and gains
WINNERS Heath Lambert admits its position prior to closing its pension fund was so precarious that ...