News
JLT thrives as Thistle struggles to produce profit
Jardine Lloyd Thompson Group (JLT) has announced a 9% growth in both revenue and profit before tax for the six months to 30 June 2011.
Solvency II should be delayed until 2014, says European Parliament
The Committee of Economic and Monetary Affairs of the European Parliament has released its draft report on Omnibus II with the proposal that the full requirements of Solvency II should not be implemented until 1 January 2014.
Chris Hanks' replacement as CII president elected
Julian James has been elected 115th president of the Chartered Insurance Institute (CII).
Gallaghers aims to break $2bn revenue barrier
Arthur J. Gallagher & Co’s half year results for 2011 have revealed a 13% rise in brokerage to $717.6m (£439m) (H1 2010: $635.2m).
Businesses paying more quickly, survey claims
Research by Experian has revealed that large businesses in the UK improved payment performance by almost a day between the first and second quarters of 2011.
PI broker wins exclusive access to new provider in North West
Professional Indemnity (PI) broker MFL Professional has secured direct access to a new market entrant to the solicitors’ PI market for the 2011 renewal season.
Premium increases cooling off, says AA
According to the latest British Insurance Premium Index from the AA, the rate of increase in both car and home insurance premiums has levelled off.
MSL launches new vehicle service for brokers
MSL Group has extended its offering to the broker market with the introduction of a new vehicle supply and management service.
Profits plunge at Aspen
Aspen Insurance has revealed a net loss after tax of $141.5m (£86.5m) for the six months to 30 June 2011 in contrast to a profit of $127.2m in the same period of 2010.
ABI figures reveal 9% rise in fraud
The level of insurance fraud detected has more than doubled over the past five years, according to figures released by the Association of British Insurers (ABI).
Jersey will not implement Solvency II
Jersey’s Financial Service Commission has issued a statement clarifying that it does not intend to implement Solvency II.
NIG raids rivals to boost Midlands team
NIG has lured staff away from Keychoice Underwriting, Axa, Bluefin and UK General with four appointments at its Midlands regional office in Birmingham.
Universal Provident pulls away from Great Lakes
Universal Provident has announced that it is to bring a majority of the underwriting for its product range in–house and sister company Personal Assurance will now act as the insurer.
Profits up at Lancashire Holdings
Bermuda-based Lancashire Holdings has announced an increase in net profit after tax for the second quarter of 2011 and the six month period ended 30 June 2011.
New player enters solicitors' PI arena
First Title Insurance has joined forces with Ink Underwriting Agencies to offer professional indemnity insurance (PII) to law firms, for the first time.
Regional brokers win business because of service, says study
Just under half of commercial insurance clients prefer to work with regional brokers, according to findings from Pearlfinders Risk Index.
Brit sees profits plunge to £6.8m
Brit Insurance has reported a dramatic fall in profits before tax to £6.8m from £77.5m in 2010 in its half year results to 30 June.
Aon makes three internal appointments to Risk Solutions business
Aon Risk Solutions has appointed three new insurer relationship managers for Aon GRIP Solutions in the UK.
BGL announces divisional changes
BGL Group has announced the appointments of Kal Atwal and Martin Overton to the main board as part of a restructure that has established four operating groups.
Sean Quinn's Q2 has no licence in Malta
The Malta Financial Services Authority (MFSA) has dismissed reports that Sean Quinn has a Malta-based insurance licence for his new insurance company, Q2.
Bluefin opens new Cardiff office
Bluefin Insurance Services has opened a new branch of its Professions operation in Cardiff.
NIG plans to expand property owners portfolio
NIG has announced plans for an additional property owners product aimed at smaller risks following the first year of trading for its premier property owners product.
Towergate appoints former Giles MD
Towergate Insurance in Scotland has appointed former Giles man Gordon Crosbie as managing director for its Perth and Stirling businesses.
Admiral to keep referral fees
Chief executive officer of Admiral, Henry Engelhardt has defended the insurer’s stance on referral fees stating “We're not doing anything that I would not tell my mother about.”