Insurer
Re-skilling the market
Dublin
Willis buys top 50 UK broker
Willis has agreed to acquire UK regional insurance broking and group benefits consultancy business Opus from European buyout firm Bridgepoint Capital. Opus has annual general insurance and group benefits revenues of approximately £13 million ($24 million…
Ace jumps to top three position in UK general insurance
Ace European Group has received regulatory approval to transfer its Belgium based business into its UK-based company.
Connecticut AG subpoenas Gallagher
The impact of the Spitzer allegations about price fixing in the insurance industry has continued to widen, after Arthur J. Gallagher was subpoenaed by the Connecticut Attorney General.
Helphire buys Albany for £45.8m
The Helphire Group has acquired Albany RTA and Albany Group Holdings giving it over 1.5 million legal expenses insurance policyholders. The two firms have been working together for the last two years.
Curtel claims new position at Markel International
Markel International has appointed Tony Curtin as claims manager for specialty, property & casualty lines.
Jelf Group to float on AIM
Jelf Group is seeking to raise approximately £2.5m at the placing price, (£2.1m net of expenses and excluding VAT) by a placing of 3,086,420 shares.
FSSC expands with 'four-nation' approach
The Financial Services Skills Council plans to open branches in Scotland, Wales and Northern Ireland...
RSA secures fleet contract until 2011
Royal & SunAlliance has renewed its contract to insure the Motability fleet, (provision of cars for disabled people within the UK), and will continue as sole provider of motor insurance for Motability fleet customers. The insurer has held the Motability…
Outsourcing firm recruits 250
HCL Technologies is recruiting up to 250 new staff in Belfast as it looks to sign up insurers consid...
CII Conference: Axa CEO calls for less pessimism
This year's UK Insurance and Financial Services Conference got under way in earnest this morning with a powerful opening address from Axa CEO Henri de Castries.
Creechurch takeover by Logan/Hastings Direct finalised
The purchase of Lloyd's insurer Creechurch by Hastings Direct parent Logan Trust Group has been confirmed.
Hiscox in 05 capacity u-turn
Hiscox is raising capacity of its Lloyd's syndicate back up to £775m after initially deciding on a 14% cut, citing foreign exchange pressures and an improved rating environment.
NU outlines next offshoring move with 150 redundancies expected
UK inurance giant Aviva today confirmed plans to increase its offshoring capacity by creating around 950 jobs offshore in 2005 to service its existing Norwich Union businesses. This builds on the 3 700 jobs Aviva has already created in India.
Insurance sector takes on the blame culture
Patrick Snowball, executive director general insurance, Aviva, has called for reinsurers and insurers to take a role in moving away from the 'blame and claim' culture which is becoming increasingly prevelant in the UK. Speaking at the Reinsurance Rendez…
Admiral launches initial public offering
Admiral Group has announced the launch of a global offer of existing ordinary shares through an institutional offering as part of its plans to float on the London Stock Exchange.
Brit shows improvements with interims
Brit Insurance Holdings has announced profit before tax of £52.5m for the interim period to 30 June 2004, an increase of £21.5m on the previous year.
Fusion opens claims unit in Manchester
Fusion Insurance has expanded its claims handling capabilities by opening a new Northern Claims Unit based in Manchester.
Jelf clinches £7m mortgage deal
Bath Building Society has renewed its strong business relationship with Bath Financial Planning, part of The Jelf Group.
Winners and Losers - Post Magazine's monthly round-up of job cuts and gains
WINNERS Hastings Direct outlines an aggressive growth strategy that will see it open a new Manchest...
Swiss Re doubles profit while premiums decline
Swiss Re’s profit doubled to CHF 1.4 billion (£611m) in the first half 2004. Total premiums earnedwere CHF 14.1 billion, a decline of 2% on 2003, as Swiss Re continued to underwrite selectively and focus on profitability, according to a company statement.
Admiral reports strong first half results
Admiral Group has announced a 30.5% increase in adjusted core profit to £45.3m for the six months ended 30 June 2004.
Partner Re adds to Charley claims estimates
PartnerRe has announced that claims relating to its exposure to Hurricane Charley are expected to be between $35 -$45m.
Allianz Cornhill profits up
Allianz Cornhill has announced a 13.2% increase in pre-tax profits for the first half of 2004, compared to the same period last year.