News
Appointment at Helphire
Helphire Group, has appointed Richard Arnold as business development manager.
AM Best affirms WOE’s ratings
AM Best has affirmed the A (Excellent) financial strength rating of West of England Ship Owners Mutual Association (WOE) (Luxembourg). The rating outlook remains stable.
RSA hires new broker personal lines team
Royal & SunAlliance hsd announced a number of changes to its personal executive team.
Legal services reform backed by RAC
Motoring giant RAC today welcomed the statement by Lord Falconer, The Lord Chancellor, committing the Government to reforming the legal industry, following publication of Sir David Clementi's review last December.
Bupa reports record profits of over £180m
Healthcare company Bupa has reported a pre-tax surplus of £182.2m for the year to 31 December 2004.
Allianz Cornhill encouraged by 2004 results
Allianz Cornhill has revealed increased profit and an improved combined ration in 2004.
Aviation industry had good 2004 claims Aon
The global aviation industry saw the lowest level of losses in its history in 2004 although concerns in the insurance industry over the severity of claims are growing, according to Aon’s 2004 Airline Insurance Market Review.
Matcham takes IUA role after Rossi departure
The International Underwriting Association has appointed Dave Matcham as its new Chief Executive. Previously Director of Operations at the association, he succeeds Marie-Louise Rossi.
Oxygen boosted by new cash injection
Oxygen, the new London market insurance intermediary company, has announced details of further capital investment to assist in its team growth strategy.
Allianz reports connectivity success with imarket
Allianz Cornhill and Acturis have successfully completed connectivity testing through imarket. Acturis currently provide Allianz Cornhill brokers with the ability to obtain quotations through a structured e-mail solution, which totally removes the need…
Admiral reports 30% increase in profit
Admiral Group today announces a record adjusted core profit of £100.6m for the year to December 2004, an increase of 30% over the year earlier. Aggregate group turnover, comprising total premiums written, gross other income and allocated investment…
Heath Lambert takes swipe at rivals as it unveils new payment system
Broker Heath Lambert has announced a new system of payment for work carried out on behalf of insurance companies, which it claims sets a benchmark for the broking sector.
Axa liabilities' COO joins Compre
Claims and run-off specialist Compre Adminstrators appointed Peter Abbott as its new managing director.
Axa gets S&P rating boost
Standard & Poor's has revised its outlook for Axa Insurance UK, to stable from negative, affirming its A+ long-term counterparty credit and insurer financial strength rating.
Faculty of Broking manager named
The Chartered Insurance Institute has announced two new appointments; Jessica Yeoh as the first manager of the recently created Faculty of Insurance Broking and Rose Yeomans as business development manager for the Midlands.
Ace in triple launch
Ace has created three new business units to target growth in property and causally in the UK and Ireland.
RAA releases US industry figures
According to a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 26 US property-casualty reinsurers wrote $28.8bn of net premiums during the twelve months ended December 31, 2004.
Chaucer profits up six per cent
Chaucer has reported record profits for the year ended 31 December 2004.
Chaucer and Highway in takeover talks
Chaucer and Highway have confirmed they are in advanced discussions about a possible recommended all share offer by Chaucer for Highway on the basis of 44 Chaucer ordinary shares for every 54 Highway ordinary shares.
SVB losses top £110m
Lloyd's insurer SVB reported technical profits of £65.0 million (2003: £68.9 million) and operating profits of £46.7 million (2003: £56.7 million) on its continuing business. However, including discontinued business the insurer's loss before tax was …
FSA seeks views on regulations of financial engineering
The Financial Services Authority is considering whether the most effective way to regulate firms' use of financial engineering is through greater disclosure.
Swiss Re profits up
Swiss Re’s net income increased to 2.5bn Swiss Francs in 2004. According to the company all three business groups contributed to a strong performance and an excellent 5.8% return on investments further enhanced Swiss Re’s 2004 earnings.
Highway premiums rise 34%
Motor insurer Highway has reported net earned premiums in 2004 rose to £225.6 million against £168.0 million the previous year.
Cornhill wins its third accreditation from CII
The Chartered Insurance Institute has awarded Allianz Cornhill's underwriting academy the industry's...