Aviva, the global insurance group that owns Norwich Union, recorded a 21% increase in worldwide life and pension sales in the nine months to the end of September 2007. Sales in the UK rose 5%, to £10.9 billion during the period. Strong growth was recorded in both Aviva’s Asia Pacific and Northern American businesses and [...]
Insurance group Willis has today announced its third quarter results to the end of September, marking a substantial increase in earnings over the period on results from the previous year, with overall revenues rising by 6% on the period as a result of its continued growth strategy. The group reported an increase in income of [...]
Crawford & Company UK are relocating within Cardiff, establishing a new office there from 1 November 2007. The firm explained that the new office was larger and the relocation was a result of its expanding business. The property, liability, subsidence and surveying lines will be staffed by Crawford employees working together with liability specialists from [...]
Tim Burrows, the underwriting director of Catlin, is to retire at the end of the year, it has been announced. He joined the firm in 2006 as a group underwriting director after Catlin acquired Wellington Underwriting plc. Earlier he had worked in Wellington, joining in 1991 as a divisional underwriter for the energy account and [...]
A new brand of travel insurance, Insure Pink, has been launched in association with Breast Cancer Awareness Month. The policy is aimed at anyone who has ever been diagnosed with breast cancer and has then been turned down for travel insurance or charged a high premium. The disease, which affects both men and women, may [...]
The Royal Bank of Scotland insurance division has today announced its appointment of a former Zurich insurance boss as part of its ongoing commitment to developing its growing home underwriting business arm. The appointment sees former Zurich head of personal products Martin Hall joining the Royal Bank of Scotland to oversee the development of its [...]
Insurer Chaucer has today announced the high profile appointment of a former Marsh executive to its new maritime subdivision of its underwriting arm Syndicate 1084, in a move that will see the division look to draw on its collective employee experience over the coming months. The company today announced former Marsh executive Andrew Voke had [...]
Julia Cross is the newest specialist to be recruited by Heath Lambert’s transportation division. Previously she had worked for Aon, and prior to that St Paul’s transportation division. Her role in the team will be account handler, and she will be dealing with a number of high profile clients. Since its creation in 2004, the [...]
Brian O’Hara, president and CEO of XL Capital, has told the firm’s board of directors that he intends to retire as both president and CEO partway through 2008. Michael Esposito, XL’s chairman, has also informed the board that when O’Hara’s successor is appointed he will leave his position on the board, explaining that he had [...]
John Charman, CEO and president of Axis Capital, has had his employment extended to 31 December 2009. Charman became unfortunately known as the man who had to pay his former wife, Beverley, £48m as part of the largest divorce settlement in British legal history. In February of 2006 he announced his intention to retire at [...]
Michael Bright, Philip Condon and Dennis Lomas, convicted earlier this week of fraud, have been given custodial sentences this morning. The three men were involved in the collapse of Independent Insurance, and charged with fraud connected to the firm’s running and demise. Bright, formerly the boss of Independent Insurance, was found guilty of two counts [...]
Shareholders of Resolution and Friends Provident have been told that they will be £2 billion better off if they agree to the proposed merger of the companies, rather than a takeover. The Takeover Panel’s deadline for bidders to declare their interest in Resolution has been set for tomorrow and Standard Life and Swiss Re are [...]
Prudential, the UK’s second largest insurer, recorded a 20% decrease in UK sales in the nine months to the end of September 2007. The group’s overseas business is expanding rapidly in some regions, with Asian sales increasing 48% during the period and sales in the US increasing 20%. The company’s chief executive, Mark Tucker, described [...]
Global insurer Integro has today unveiled former Willis boss Guy Bessis as the inaugural managing principal in its London based international insurance unit, in a move that sees the group increase its wordlwide reach in insurance brokering and client-side risk management. The company announced the appointment of Bessis today as it launched its new London [...]
Independent insurance broker Heath Lambert has today announced the appointment of a new commercial director for its affinities business with a specific focus on the business’s trade association, reflecting its commitment to developing commercial opportunity in its existing markets. The firm announced today it had appointed Matt Dawson, formerly of ACE (Association for Consultancy and [...]
Mick Jacobs has been appointed as Prefential’s new chairman, with immediate effect. This is the latest move in the firm’s expansion and strengthening of its upper echelons. Prior to his new role Jacobs held a number of management positions at the Group’s underwriting wing, Optimum Underwriting. His new colleagues will include the MD Steve Nickerson [...]
Lockton’s statistics, revealed today, show that over a quarter (28%) of residential and commercial property claims made this year are for water escape. Another area responsible for many claims are storms which accounted for 23% from January to September this year. Lockton’s Real Estate & Construction division MD, Steve Bracey, has said that already this [...]
A recent offer to buy Broker Network has been rejected by the firm. Speculation indicates that the bidder could have been either Towergate or Axa. Broker Network has stated that it had been approached by a firm that could lead to a bid being made for the Network. The terms and conditions of the approach [...]
Independent travellers are not adequately protected by the new ATOL APC (ATOL Protection Contribution) system, the British Insurance Brokers’ Association (BIBA) has warned. Internet sales have increased hugely in recent times, resulting in many more people booking their own hotels and flights separately rather than using a more traditional travel organiser. Consequently, the numbers of [...]
Three former employees of Independent Insurance are now in custody awaiting sentence, having been found guilty of fraud, in what has been described as one of the UK’s “worst commercial disasters” of recent times. Michael Bright, former chief executive, chairman and managing director at Independent Insurance has been detained with colleagues Philip Condon, the firm’s [...]
