Insurer
Randall & Quilter's H1 profits fall
Run off experts Randall & Quilter has reported half-year income up 17% to £18.8m (£16.1) but saw its pre-tax profit plummet to £3m from £5.8m.
ALC Health launches new travel insurance plan for EU residents
International medical insurance provider ALC Health has launched a new global travel insurance plan designed exclusively for European Union residents regardless of nationality.
Abbey to grow in legal consultancy
Abbey Protection will grow from an insurer to more of a consultancy firm with the liberation of the solicitor market. It will increase the 70 lawyers it employs and target its 350 000 SME customers to provide a wide range of legal services direct.
Clausen Miller Europe expands into Germany
Multi-national partnership Clausen Miller Europe has strengthened its international insurance and reinsurance capabilities by collaboration with its new partner Wilhelm Rechtsanwälte.
Prima completes €1.4m funding
Prima Solutions, software provider for life, P&C, large commercial risks and reinsurance Software, has completed a €1.4m round of funding.
Hurricane Katia could threaten US
It is too early to tell whether Hurricane Katia, which was today given ‘hurricane status’, will threaten communities in the Caribbean, Bermuda or in the US, according to early reports from Risk Management Solutions.
Insured losses for Hurricane Irene "manageable" $6bn
The insured loss estimate for Hurricane Irene is said to be between $3bn to $6bn making the impact on insurers “material” but “manageable”, according to Fitch Credit Ratings.
Tryg invests in African renewables
Danish insurer Tryg has invested DKK50m (€6.7m) in a Danish investment fund which aims to boost the development of renewable energy in the southern part of Africa.
Brit warns about untrained lorry drivers
Brit Insurance has issued a stark warning that shop shelves could be left bare and consumers will struggle to buy essentials such as bread and milk if truck drivers fail to comply with incoming EU driver training rules.
Abbey profits rise despite ATE drop
Legal and professional fees insurer Abbey Protection has announced half year results showing revenue and pre-tax profit up 6% with revenue at £18.3m (H1 2010: £17.3) and pre-tax profit at £5.0m (£4.7m).
Comment- mutuals: Public preference
Mutuals can be overlooked or underused by public bodies, but Allan Guest argues that they are the most cost-effective and appropriate choice for public sector risks.
Ex-Churchill MD joins aggregator start-up
Former Churchill managing director Mike Quinton has taken an “opportunity of a lifetime” to become Debra Williams’ first senior appointment at a new price comparison site, joining as commercial director.
Irene batters the US but commercial losses look set to be low
Hurricane Irene will be a personal lines insurance event in the US with few major commercial losses, raising the issue of coverage for flood policies, according to loss adjuster Cunningham Lindsey.
Essex broker rebuffed by Qmetric over Primo name
An Essex-based insurance broker has lodged a formal complaint against Qmetric for using the ‘Primo’ trading title, which it claims was its brand name first.
Boswell launches recruitment drive after growth
The managing director of the East Anglia general insurance and legal services firm Alan Boswell Group is targeting a fresh recruitment drive, after announcing a capital reserves growth of 36% in the past year.
Economic uncertainty boosts HNW business
Stock market crashes and market uncertainties are moving high net worth customers from stocks and shares to more tangible assets, boosting business for HNW insurers.
Axa blames injury claims for motor reserve top-ups
Axa has denied its need to top-up motor claims reserves for the last five years is because of its acquisition of Swiftcover, blaming instead high claims costs.
Aviva u-turns on single brand policy with QMH
Aviva’s UK retail director Steve Treloar has vowed to expand new car insurance brand Quote Me Happy into the household market.
Editor's comment: The fall of angels
Many might argue the day was an inevitable one for a motor insurance giant where UK car cover accounts for 90% of group turnover, but the market evidently hoped otherwise. Admiral’s radiant stock market halo has finally lost some of its shine.
Capita looks to double in size by 2013
Outsourcing specialist Capita Consulting has unveiled plans to recruit 30 more consultants to its financial services practice and to double the size of its business in two years.
Admiral battens down the hatches
Admiral has been the darling of the stock market for a number of years but, despite record pre-tax profits, its share price took a tumble last week. Chinwe Akomah finds out why.
Penny Black’s insurance week
After the guest host at this year’s British Insurance Awards Jonathan Ross said Capita Group’s Tony Tarquini had a name for show business, Penny was keen to meet the man herself.
Post history - 20 years ago: Mortgage losses may hit £900m
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 20 years ago reveals.
People moves - 1 September 2011
A round-up of people moves and new appointments in the industry, as featured in the 1 September 2011 edition of Post.