News
Cox buys Marsh motor book
Cox Insurance's broking division has bought a book of rural/commercial motor business from Marsh's Private Client Services, responsible for gross written premiums in excess of £8m.
BFIS continues to grow
Bermuda-based Ram Re has joined the Bermuda Foundation for Insurance Studies (BFIS) as a pledged member, and will donate $50 000 to it over the next five years.
FSCS declares 23 firms in default
The Financial Services Compensation Scheme has this month declared 23 financial services firms in default, including Alcester-based Stone House Insurance Services and Courtlets Insurance Brokers in Oldham.
Amlin syndicate 2001 set for £1bn in 2004
Lloyd's insurer Amlin has confirmed it will have underwriting capacity of £1bn in 2004 for syndicate 2001.
Catlin to launch German subsidiary
Catlin Group has announced the formation of a German subsidiary, Catlin GmbH, which will be based in Cologne.
Scott calls for sea-change in insurance industry attitudes
Dr Sandy Scott, director general of the Chartered Insurance Institute has laid out his vision for the future of training and competence in the insurance industry.
Fitch maintains negative outlook on reinsurance market
Concerns over reserve adequacy have led Fitch to maintain a negative outlook on the reinsurance market, the rating agency said today as part of its outlook for 2004.
St Paul restructures professional indemnity team
The St Paul has restructured its professional indemnity team and rebranded it as St Paul Professions.
Jackman steps down at Skills Council
The Sector Skills Council for Financial Services (in development) has announced that David Jackman is to become special advisor to the board, having acted as chief executive during the start-up phase.
HBOS reports
Halifax Bank of Scotland today reported sales of insurance in the household, creditor and motor sectors indicate a healthy increase in premiums for the full year.
CTC launches Italian joint venture
UK-based Charles Taylor Consulting and Italy-based RINA Industry have established a joint venture company, Crescendo Holdings, with an authorised capital of € 1.4m (£1m).
Moody's downgrades Scor
Rating agency Moody's Investors Services has downgraded troubled French reinsurer Scor's insurance financial strength rating from Baa2 (adequate) to Baa3 (adequate), with a developing outlook.
Windsor reports growth in profits
Listed broker Windsor today reported a 21% increase in pretax profit to £4.04m for the 12 months ended 30 September. Brokerage and fees for the year under review increased by 4% to £18.04m.
New director takes the helm as Groupama confirms distribution strategy
Groupama Insurances has appointed Amanda Blanc into the new role of distribution and customer services director. The moves comes as Groupama confirmed that it is close to finalising work on a new distribution strategy – a project that has involved the…
Cox facing £4.5m impact of Tribune
Cox Insurance Holdings has announced it may have an indirect exposure to the closure of Tribune Risk and Insurance Services; currently estimating an impact on pretax profits of around £4.5m.
Zurich takes over Broker Direct account from Allianz Cornhill
Zurich will provide capacity for the main private motor book of Broker Direct, after its previous underwriter, Allianz Cornhill subsidiary Trafalgar, opted to pull out of the six-year arrangement.
Paddick calls for stricter wholesaling regime
Following the collapse of intermediary Tribune Risk & Insurance Services, Institute of Insurance Brokers director general Andrew Paddick said that the Financial Services Authority should seriously consider making the "wholesaling of insurance" subject to…
Cox facing £4.5m impact of Tribune
Cox Insurance Holdings has announced it may have an indirect exposure to the closure of Tribune Risk and Insurance Services; currently estimating an impact on pretax profits of around £4.5m.
CEA communications chairman extends post
The mandate of Mr Fabrizio Rindi, chairman of the Comité Européen des Assurances Communications and Public Relations Committee since June 2001, has been extended for a further two-year period.
Broker takeover gives RHG £25m GWP
Stevenage-based corporate insurance broker Richmond House Group has acquired E P Ward to become what it claims is "one of the largest regional broking and financial services groups in the UK".
City Police receives extra funding to fight fraud
The City of London Police today announced plans to expand the size and operational scope of its Economic Crimes Department, following extra funding.
Motor insurers will remain profitable until 2007, claims report
UK motor insurers were able to sustain profit for a second year in 2002 after four years of loss making, according to motor insurance industry analysis by professional services firm Deloitte.
Cooper Gay posts 10% rise in profits
Lloyd's broker the Cooper Gay Group, has announced its consolidated results for the year ended 30 September 2003
Folgate launch underwriting facility
Folgate is to launch an underwriting facility, Folgate Underwriting Management Specialty Ltd, on January 1. The business will manage personal and commercial lines underwriting capacity on behalf of Lloyd's underwriting agency Wellington. FUMSL will…