Insurer
Lloyd’s losses hit £697m
Lloyd’s has revealed a loss of £697m for the first six months of 2011 compared to a profit of £628m in the same period of 2010.
New legal counsel for RBSI
RBS Insurance (RBSI) has announced the appointment of Humphrey Tomlinson as general counsel and company secretary.
RSA appoints new head of group legal
RSA has announced the promotion of Charlotte Heiss to head of group legal at its Group Corporate Centre.
Lloyd's underwriter moves to replace capacity
Glemham Underwriting has secured new capacity five months after it parted ways with previous provider, Barbican.
XL looks to Axa and Zurich to broaden middle market appetite
XL Insurance has broadened its appetite in the mid market space by opening up its offering to business with a turnover of between £25m-£250m.
Liberty Syndicates appoints new chairman
Lloyd's managing agent Liberty Syndicates has appointed Keith Nicholson as non-executive chairman replacing the retiring Brian Fitzgerald.
Mazars predicts £1.5bn loss at Lloyd’s
Accountancy firm Mazar’s has warned that 2011 is on course to be the most expensive catastrophe year on record and that Lloyd’s combined operating ratio is set to exceed 120% for the first half of the year.
Judge accuses RSA firm of fabricating repair costs
RSA has been accused by a county court judge of artificially inflating repair costs charged to other insurers.
Pair jailed for £2m 'crash for cash' scam
Two brothers who benefited by almost £1m each from 'crash for cash' scams have been jailed for a combined period of 11 years.
Chubb appoints new UK and Ireland manager
Chubb Europe has appointed Jeremy Miles as UK and Ireland manager.
HSBC in insurance sell-off
HSBC is to sell its general insurance business as part of the bank’s plan to strip away non-core units.
Travelers makes further additions to professional risks management team
Travelers Insurance Company has promoted Richard Coello to assistant general manager for professional risks.
RSA appoints former Aegon CFO to board
RSA Insurance Group has appointed Jos Streppel to its board as a non-executive director as of 3 October 2011.
Arista makes further commitment to Birmingham
Arista Insurance has appointed former Towergate underwriter Gemma Bradshaw to its Birmingham office.
MGAA continues with recruitment drive
The chairman of the Managing General Agents’ Association (MGAA) steering committee has vowed to continue recruiting members following the association’s launch last week.
Referral fee ban could be catastrophic for brokers
Industry experts have warned that brokers reliant on an income stream from referral fees could find the government’s ban disastrous for their business.
Dual looks to Chartis for senior hire
Dual Corporate Risks has appointed Paul Russell as director and senior underwriter of its financial institutions arm DCR FI.
Insurers call for full implementation of Jackson
While Zurich and Aviva have welcomed the move to ban referral fees, both insurers said it needed to be part of a wider set of reforms.
ABI demands clean up of compensation system
The Association of British Insurers (ABI) has made an urgent call for the reform of the compensation system.
Insurers see referral fee ban as important first step
The Association of British Insurers (ABI)and Axa have welcomed the government’s announcement that they will ban the selling on of personal injury details for referral fees.
ABI keen to engage with OFT motor inquiry
The Association of British Insurers (ABI) has described the Office of Fair Trading’s (OFT) announcement of an inquiry into the cost of motor insurance as an opportunity to highlight the increasing cost pressures insurers’ face.
Europe clears Liberty Mutual’s Quinn Insurance takeover
The European Commission has granted clearance, under the EU Merger Regulation, for the acquisition of the general insurance business in Ireland of Quinn Insurance by US insurer Liberty Mutual.
Private equity hungry for insurance investment
More than two thirds (68%) of private equity houses plan to invest in the UK financial services market in the coming year, particularly in insurance and banking, according to a Grant Thornton report.
Another insurer throws its hat into solicitors' PI market
Apro Management is the latest insurer to enter the solicitors' professional indemnity (PI) market.