Insurer
AIG plunges 45% in early trading on Federal Reserve reports
Shares in AIG plunged 45% in early trading in New York on worries that the insurance behemoth might turn to the US Federal Reserve Bank for $40bn worth of backing in an effort to stave off the 'double whammy' of a liquidity crisis and a possible credit…
The Withers Group expands into the north
The Withers Group has opened a new office in Warrington, Lancashire, servicing insurance and construction clients from the Midlands to Scotland.
PB Week: Bridget, Peter and Martin
There has been plenty of late August and early September activity in the insurance market (and of course the football transfer market) and many will be returning from holiday catching up with the news, some shaking their heads in disbelief, writes Andrew…
Bridget McIntyre leaves RSA
Bridget McIntyre is stepping down as UK chief executive officer of RSA.
Hardy not part of takeover talks - CEO
Although there has been a speight of recent takeovers of Lloyd’s (re)insurers by Bermudian companies, Hardy hasn’t been part of any talks, chief executive Barbara Merry said in an interview.
Groupama CEO dismisses commercial rate rise talk as hot air
The chief executive of Groupama has criticised the market for talking up commercial rates rises but doing nothing about it. François-Xavier Boisseau's comments came as Groupama Insurances reported a UK post tax profit of £15.0m to the end of Q2 2008 …
Pick of the week
Provident draws up new toba; Ecclesiastical cultivates reinsurance deal; Zurich targets broker with charity offerings; and Fortis lands £20m Toyota deal
Viewer successfully challenges Churchill ad
Churchill Insurance has been ordered to pull a “misleading” TV advert after a viewer successfully ‘challenged Churchill’.
Allianz reports £94m in pre-tax profits
Chief executive officer of Allianz, Andrew Torrance, says the underlying profitability of the business the insurer is writing is “unsatisfactory”.
Former RBSI head joins Towergate broking arm
Towergate has appointed Jim Donaldson in a new senior operations role in the Towergate broking division.
Goodwin says RBSI sale could be weeks away
The chief executive of Royal Bank of Scotland says a number of parties are interested in the bank’s insurance arm but that a deal will not be struck unless an “acceptable” price is agreed.
Axa slashes 500 more jobs
Axa UK is making up to 500 redundancies on top of the 120 jobs it is shedding in Ireland after reporting its interim results.
SME tycoons unperturbed by worldwide credit crunch
Entrepreneurial flair is alive and well in the UK despite the economic downturn, according to Hiscox...
Aggregtor battle sees Confused's profits drop £4.1m on higher revenue
Motor insurer Admiral has indicated that the battle in the aggregator space is having an impact after revealing Confused's revenue was up at £36.6m for the first six months of 2008 (H1 2007: £34.3m), but that its profits had reduced to £15.6m from £19.7m.
Aviva UK GI business sees profit up as premiums fall in challenging market
For the six month period to 30 June 2008, Aviva has reported that its UK general insurance profits increased to £305m (2007: £269m), despite what it described as a continuation of the challenging market conditions seen throughout 2007.
Small businesses continue to boom despite credit crunch, according to survey
Despite the credit crunch more than half (52%) of small business owners in the UK say they have no intention of limiting their expansion plans, a survey reveals.
Aon adds to UK board
Aon has appointed Mark Chessher to the position of CFO of Aon and Aon Risk Services.
Mark Collier joins Frontline
Mark Collier is leaving his position as managing director of Provident Insurance after seven years, to take up an equivalent position at BGL Group.
Schmalzriedt appointed chairman of Willis Re
Willis Re has appointed Gary Schmalzriedt as chairman with immediate effect.