Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 18th of July 2018
September 30, 2008

Vision Underwriting make two senior appointments

by Richard Kilner

Story link: Vision Underwriting make two senior appointments

Vision Underwriting Limited, a subsidiary of Liberty Mutual Insurance Europe Limited based in Cheltenham, has announced two senior appointments. Taking up the job of liability manager is Rob Price, and Richard Trinder becomes the firm’s new commercial manager. Both men will be directly responsible to Vision’s managing director, Chris Bilas. Price will be tasked with […]



Endurance appoint new executive VP

by Richard Kilner

Story link: Endurance appoint new executive VP

Bermuda-based insurer and reinsurer Endurance Specialty Holdings Ltd has announced the appointment of Joseph C. O’Donnell as executive VP. O’Donnell will join the Professional Liability part of the firm, and brings to it a quarter of a century of industry experience. The majority of his long career was spent with Chubb Specialty Insurance Company, which […]



Standard Life seeks claimants for shares and cash

by Gill Montia

Story link: Standard Life seeks claimants for shares and cash

Standard Life is in the process of tracking down 200,000 individuals who can lay claim to part the £184 million in shares and cash that has remained unclaimed since the life and pensions provider was demutualised. Solicitors Georgeson has been appointed to help with the search and is raising interest by reporting that one person […]



Partnership launches annuity aimed at smokers

by Gill Montia

Story link: Partnership launches annuity aimed at smokers

Partnership Life Assurance has launched a new annuity aimed at smokers. The product offers people aged 60 to 65 who have smoked at least ten cigarettes a day for ten years a monthly income Purchased Life Annuity that pays an average of 6.5% per annum. Those aged over 65 with a lump sum to invest […]



Citigroup acquires Wachovia in rescue deal

by David Masters

Story link: Citigroup acquires Wachovia in rescue deal

Since opening in Winston-Salem, North Carolina, in 1899, Wachovia has run as an independent bank for a period covering three centuries, surviving even the great depression of the 1930s. Yet after 129 years, the great financial crisis of 2008 has brought the independence of America’s fourth largest bank crashing to the ground. From spring 2006 […]



Berkshire Hathaway reinsures AIG subsidiary

by David Masters

Story link: Berkshire Hathaway reinsures AIG subsidiary

Lexington Insurance Company, a subsidiary of AIG, has agreed terms with Berkshire Hathaway for reinsurance cover. Berkshire Hathaway’s National Indemnity Company will provide contingent property reinsurance cover to Lexington’s Real Estate Portfolio, as well as to policies with limits of over $250 million, to policies with home/foreign exposure, and to the property sectors of the […]



Looking on the Brightside, H1 profits up

by David Masters

Story link: Looking on the Brightside, H1 profits up

Brightside has announced its results for the first half of 2008, with turnover and operating profit both increasing on year. Turnover for the six months ending 30th June 2008 at the insurance broking and financial services business was £15.6 million, up 39% compared to turnover of £11.2 million in the first six months of 2007. […]



September 29, 2008

Marsh strengthens International Surety Practice

by Richard Kilner

Story link: Marsh strengthens International Surety Practice

Global risk advisor and broker Marsh has announced a trio of senior appointments to its International Surety Practice. Steve Powney, Steven Lewis and Tricia Burgess all migrate from Aon’s Surety and Guarantee team to Marsh. Powney is to be given leadership of International Surety Practice for Marsh in Europe, the Middle East and Africa (EMEA). […]



Heath Lambert appoint PR director

by Richard Kilner

Story link: Heath Lambert appoint PR director

Elliot Lane has been recruited by Heath Lambert to serve as the firm’s new Group Public Relations director. Presently, Lane occupies the post of head of Media Relations at CII Group, and is to join Heath Lambert just as the firm undergoes a public relations revamp which will be led by Lane and the current […]



Questor launches LifeStyle Excess Insurance

by Gill Montia

Story link: Questor launches LifeStyle Excess Insurance

Questor Insurance Services, the Internet broker, has launched LifeStyle-Excess Insurance. The new policy aims to give reassurance to clients who may need to claims on policies with high excesses, by insuring the excess. The cover is available across motor, home, travel, health and pet insurance. According to Questor’s chief executive, Andrew Lawrence, the new product […]



IPT Tribunal rules on Homeserve case

by Gill Montia

Story link: IPT Tribunal rules on Homeserve case

The UK Insurance Premium Tax (IPT) Tribunal has found that companies arranging and administering insurance contracts for clients should include IPT on their fees. The ruling follows a test case involving Homeserve, which provides a home repair service and third-party assistance insurance for plumbing, electrical and gas heating faults. While Homeserve manages the insurance cover […]



Heath Lambert bolsters Projects team

by Richard Kilner

Story link: Heath Lambert bolsters Projects team

Independent insurance broker Heath Lambert has announced a trio of new appointments to enhance its Projects team. Hayley Bonello, Hollie Mitchell and Roland Brockman are all to become project analysts, which will enable the team’s ever growing client base to continue to enjoy a strong level of service. Projects team head Pauline Goreham has stated […]



UK Government rescues Bradford & Bingley

by David Masters

Story link: UK Government rescues Bradford & Bingley

The British Government has confirmed that tormented mortgage lender Bradford & Bingley (B&B) is to be nationalised whilst its savings arm will be sold to Spanish bank, Santander. Chancellor of the Exchequer Alistair Darling said this morning that the Government ‘acted immediately’ to protect the bank’s customers and to ensure the stability of the financial […]



Bikesure insurance joins BeatThatQuote.com

by David Masters

Story link: Bikesure insurance joins BeatThatQuote.com

UK-based motorcycle insurers Bikesure have signed up to join the panel of insurance companies on fast-growing price comparison site BeatThatQuote.com. Motorbike riders looking for insurance will now be able to arrange a Bikesure policy at the website, whilst also making sure that they are getting the best deal possible. A spokesperson for Bikesure said BeatThatQuote.com […]



Swiss Re steers safely through financial storm

by David Masters

Story link: Swiss Re steers safely through financial storm

European insurance giant Swiss Re has assured investors that its portfolio is secure despite the current worldwide financial turmoil. The second largest reinsurer in the world announced on Thursday that it is on track to meet its targets, and that write-downs from the credit crunch have been lower than expected. The company added that it […]



European banks bail out Fortis for €11.2bn

by Gill Montia

Story link: European banks bail out Fortis for €11.2bn

Fortis, the Belgian insurance and banking group, has received an €11.2 billion injection of cash from the governments of the Netherlands, Belgium, and Luxembourg. The support became necessary over the weekend, after French bank, BNP Paribas, and Dutch financial firm, ING Groep, walked away from negotiations to acquire the business. The three banks involved in […]



September 26, 2008

Bupa Care Services names London director

by Richard Kilner

Story link: Bupa Care Services names London director

Bupa Care Services has announced the appointment of Lorna Rose as the firm’s new director for London. In her new post, Rose will be responsible for the 25 Bupa care homes located in London and will report directly to South East Regional Director Oliver Thomas. Thomas has welcomed her appointment, and praised Rose’s track record […]



Young male driver premiums continue to rise

by Gill Montia

Story link: Young male driver premiums continue to rise

Research from AA Insurance shows that young men are paying around twice as much for their car insurance as young women. According to the study, premiums for newly qualified young male drivers have continued to rise, while for young women, they have declined. For example, the average quote for a 17-year-old male driving a three-year-old […]



September 25, 2008

Lloyd’s reveal interim results

by Richard Kilner

Story link: Lloyd’s reveal interim results

Specialist insurance market Lloyd’s has unveiled its interim results for the present year. Pre-tax profit was recorded at £949m, significantly less than the corresponding period the previous year which was £1,807m. The declining profits occur during a difficult time for the market, with increasing attritional claims. However, central assets are at a record level, hitting […]



Legal & General offer advice to students

by Richard Kilner

Story link: Legal & General offer advice to students

Legal & General has offered advice to full-time students to protect themselves against burglary. Technical services’ chief Elaine Parkes suggests the basic step of making sure the property lived in is secure, which can greatly reduce the risk of burglary. Parkes also urges students to ensure that their goods are appropriately protected by a suitable […]