Property
LV to recruit another 75 staff
LV's new 24-hour call centre for motor insurance customers in Hudddersfield may be expanded to household during 2010. The insurer hopes to create up to 75 jobs over the next 18 months following the opening.
Glacier reports $34m growth in net income
Glacier has reported net income for 2009 up to $60m and a total gross written premium decline pf 17% from 2008.
PartnerRe Chile quake claims could reach $320m
PartnerRe has said it expects initial claims worth $220m-$320m, on a pretax basis, related to the recent devastating earthquake in Chile.
Alterra names new executives
Alterra, the new name for the newly-combined entities of Bermudian reinsurance rivals Harbor Point and Max Capital, has named its executives.
RSA warns manufacturers over rising order risks
Insurer RSA has warned manufacturers of the risk of a sudden surge in large and untypical orders as the sector’s fortunes improve.
Max ratings won't be affected by Harbor Point merger, say Fitch
Max Capital's announcement that it is merging with Bermudian rival Harbor Point is unlikely to affect its ratings, Fitch has said.
Max - Harbor Point merger won't lead to job losses - sources
The merger between Max Capital and Harbor Point won't lead to job losses in the Lloyd's market, market sources have told Reinsurance.
Harbor Point and Max Capital confirm merger
Bermudian reinsurers Max Capital and Harbor Point have confirmed their merger.
Scor in earnings surge
French reinsurer Scor reported a surge in earnings in the fourth quarter of the year.
Fitch: French windstorm losses material, but managable
Fitch does not expect losses from the catastrophe to result in a material capital erosion for the French insurance market. The agency expects that the rating actions due to the storm are likely to be limited.
AIG shares down 8% after reporting heavy losses
Shares in AIG were down 8% in mid-morning trade on the New York Stock Exchange after the beleagured insurer reported a net loss of $8.9bn in the fourth quarter of 2009.
QBE Europe profits dip on back of increased claims
The business reported a rise in incurred claims to A$2.01bn (2008: A$1.76bn), whilst its expenses reduced to A$426m (2008: A$483m).
Lloyds GI book hit by £156m rise in claims
The group saw its general insurance profit dip 32% in 2009 to £367m (2008: 537m) and overall insurance arm profit fall 34% to £1.2bn (2008: £1.54bn).
Lancashire net profits rise despite fall in premiums
Lancashire's net profits rose in the fourth quarter and in 2009 despite a fall in gross written premiums during the periods.
The Royal Hospital Haslar added to CBG portfolio
CBG Group has been appointed to provide a programme of insurance for The Royal Hospital Haslar.
RBSI profits slump by over £500m to £58m in 2009
CEO Paul Geddes described 2009 as "exceptionally challenging"
RSA bullish despite 10% fall in operating profit
CEO Andy Haste hails progress in emerging markets and international arms.
Axa MGA stance leads to 13% cut in volumes
Axa Insurance's strategy of lifting rates and exiting relationships with managing general agents has led to a 13% reduction in volume in its commercial lines book over the course of 2009.
Barrie & Hibbert seal Dexia Insurance ESG deal
Belgian company Dexia Insurance has appointed Barrie & Hibbert to provide an Economic Scenario Generator to assist in its Solvency II compliance and MCEV calculations.
FM Global to Commemorate 175th anniversary
Business property insurer FM Global is to host a year-long commemoration of its 175th anniversary in 2010.
Lloyd's broker expands overseas footprint with acquisition
Windsor has completed a deal for the minority interest in BGH Risk Solutions, a liability broker that operates in Canada, New Zealand and Australia.
Towergate boss Cullum hails John Charcol swoop as a "perfect fit"
"To have the leading high net worth mortgage broker in the group gives us a huge opportunity to provide mortgages to our high net worth customers and SME owners," he added.
UBS, Goldman said to get AIA IPO roles
Investment banking giants UBS and Goldman Sachs have been appointed joint bookrunners for the IPO of AIG's life unit, AIA, the Financial Times has reported.
Commercial landlords warned over environmental liability
Cowens claims they could face claims for damages and be subjected to action from regulatory bodies for failing to address environmental safety, even if it is a tenant who is at fault.