News
NU switches on electronics solution
Norwich Union has launched a guide to the electronics sector aimed at brokers.
Chaucer takes on Zurich specialist healthcare trio
Chaucer Syndicates has recruited Nigel Malcolm from Zurich Specialities to underwrite its institutional healthcare account on Syndicate 1084.
Highway issues Cox statement
The Board of Directors of Highway has issued a statement in which it says it has concluded that a transaction with Cox Insurance Holdings would not be in the best interests of its shareholders. "Asa consequence" it said "discussions with Cox have been…
Swinton profits increase to over £15m
High street broker Swinton has announced profits before tax of £15.1m for the year ending December 31st 2003, against £4.8m in 2002, a rise of 215%.
Towergate earmarks £45m for acquisition programme
Towergate has raised £85 million financing facilities including a £45 million war chest for its acquisition programme from RBS, Lloyds TSB and Barclays.
SMEs have fewer flexible benefits
Employees of small and medium-sized companies are not reaping the benefits of the flexible working d...
Motaquote's training initiative up for award
Winners and Losers: Post Magazine's monthly round-up of job cuts and gains
S&P rates RGA
Standard & Poor's Ratings Services (S&P) has assigned its AA- (very strong) counterparty credit and financial strength ratings to RGA International Reinsurance. The outlook is stable.
Lloyd's broker sells non core arm
Lloyd’s broker RFIB Group has agreed terms to sell its pensions and benefits consultancy business to FPS Group Limited.
Ace UK set for growing role within global company
Ratings agency A.M. Best has given a financial strength rating of A (Excellent) to ACE INA UK and the insurer's Belgian operation, declaring both operations are core to the group's strategy.
Irish insurer's future uncertain after parent is acquired
A.M. Best has placed the financial strength rating of A- (Excellent) of Carraig Insurance Limited (Ireland) under review with negative implications following the announcement of the takeover of its parent, Aventis, by Sanofi-Synthèlabo, a French…
Saga sees 32% growth in insurance arm
Saga has recorded profit before tax of £81.6m (up 62.5%) on turnover of £382.7m in the 12 months to 31 January 2004. The group’s insurance and financial services division, Saga’s largest contributor to earnings, accounted for 89.1% of total group profit…
Willis reports modest rate increases in some lines
International broker Willis today reported that revenues grew 20% to $665m (with 9% organic growth) during the first three months of 2004. Net income for the quarter ended 31 March 31was $148m, or $0.87, compared with $117m, a year ago.
RSA enhances its risk mapping system
Millions of homeowners in areas at risk of subsidence across Britain will now benefit from more accurate insurance premiums thanks to enhancements to Royal & Sun Alliance’s risk mapping system claims the insurer.
DLA merges insurance and M&A teams
Law firms DLA has restructured its insurance team, combining it with the specialist M&A department, in a bid to take advantage of the growth in the company run-off markets.
Atrium announces profits of £13.6m
Lloyd’s insurer Atrium has announced a group profit of £13.6m and confirmed a number of management changes.
S&P takes Groupama off CreditWatch
Standard & Poor’s Ratings Services (S&P) has affirmed its ‘A’ (strong) insurer financial strength rating on U.K. non-life insurer Groupama Insurance and removed the company from CreditWatch, where it had been placed on 14 January 2004. The outlook is…
Appointment at JL Manson & Partners
Manchester-based insurance broker JL Manson & Partners has appointed Mike Latham as director. He bri...
Lloyd's boss in boardroom risk management plea
Business leaders have been urged to put risk management at the heart of the boardroom agenda by Lord...
Appointment at Heath Lambert Group
Heath Lambert Group has made Barry Duffin operations director. He will head up the group's select bu...
Fortis hits back at UK sale talk
Banking and insurance group Fortis has hit out at speculation that it is considering a sale of its U...
Davies Arnold Cooper to grow its share of insurance market
City law firm Davies Arnold Cooper is looking to grow its share of the Central and South American in...
Ambitious broker targets its largest acquisition yet
Scottish broker Giles is eyeing up its largest acquisition yet, following the opening of three new o...
Zurich and Broker Direct to work together
Zurich and Broker Direct are working together to offer Broker Direct's motor insurance in Northern I...