Insurer
NU touted as possible RAC bidder
City analysts have placed Norwich Union parent Aviva in the frame for RAC, after the insurance and roadside recovery giant revealed it had received an approach "that may lead to an offer to buy the business."
Heath Lambert in board shake up
Heath Lambert Group has announced the retirement of Ian Martin, executive chairman. His retirement coincides with his 70th birthday.
Lloyd's honours US brokers for outstanding achievement
Lloyd’s of London has announced the winners of the 2005 US Broker Awards.
Zurich extends Bradford & Bingley deal
Zurich's Personal Insurance business has secured a three-year extension of their long-standing deal with Bradford & Bingley to supply household insurance for their block policies.
RBSI profits jump, blames Churchill for combined ratio rise
Royal Bank of Scotland Insurance’s contribution to the group's profits increased by 42% (£253m) to £862m for the 12 months to 31 December 2004. These figures included the first full year’s contribution from Churchill, which was acquired in September 2003…
Swiss Re announces good renewals
Swiss Re’s continued focus on profitable underwriting achieved attractive rates in the January renewal. Premium volume decreased slightly by 2%.
Partner Re reports increased earnings for Q4 2004
PartnerRe has reported net income of $143.7m for the fourth quarter of 2004. This net income includes net after-tax realized gains on investments of $16.1m. Net income for the fourth quarter of 2003, including net after-tax realized gains on investments…
Hiscox acquires Alex Forbes business
Hiscox has acquired Insurex Expo-Sure, the specialist insurance provider to the conference, event and exhibitions market. Hiscox will acquire 100% of the operation, from Alexander Forbes.
Re AC steps closer to relaunch
Reinsurance Australia Corporation (Re AC) has announced that the Australian Prudential Regulation Authority (APRA) has removed the directions which were imposed on Re AC when the Company went into run-off in 2000. This follows the completion of APRA’s…
Jelf results show turnover rising
Broker the Jelf Group today announced its inaugural set of preliminary results as a listed company on the Alternative Investment Market, with turnover increasing by 26%.
West country broker boasts healthier operating margins
West country and Wales based corporate broker Jelf Group has announced its inaugural set of preliminary results as a listed company on AIM. The results are for the year ended 30 September 2004.
Smart & Cook chairman dies
Geoff Cook chairman of Smart & Cook has died suddenly. The founder of the growing broker chain will be sadly missed by all those who knew him, and the loss of Mr Cook is also a loss for the broking industry as a whole.
Distribution review for Groupama Healthcare
As part of its plans to develop its specialist Healthcare business, Groupama Insurances has begun a review of the distribution and customer servicing capabilities of Groupama Healthcare.
Admiral highlights hugely increased ad spend
Before entering its closed period on 21 January 2005, Admiral Group today provides an update on current trading.
Smart and Cook expands north of the border
National insurance broker Smart and Cook has continued its expansion into the Scottish market with the opening of a brand new branch office in Edinburgh.
Lloyd's chief puts 9% capacity reduction down to market discipline
The Lloyd’s market expects to have the capacity to underwrite £13.7 bn of business in 2005, chief executive officer Nick Prettejohn announced today.
Admiral joins FTSE 250 companies
Admiral Group has been included in the FTSE 250 index following the quarterly review of the UK Index Series.
Lord Levene to serve second term as chairman of Lloyd’s
Lord Levene of Portsoken will serve a second term as chairman of Lloyd’s of London.
Illium launches regional arm
Lloyd’s insurer Illium is launching a north of England underwriting operation.
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.