Accident claim handler Helphire has posted its half-year results with a pre-tax loss of £59.3 million despite turnover increasing 10%. Revenues for the six months to 31 December 2008 increased 10.3% to £202.9 million, but despite this the company reported a diluted loss per share of 32.9p. Operating profit dropped 66% to £8.9 million, compared [...]
The insurance and investments division of Halifax Bank of Scotland (HBOS) reported profits were up 15% in 2008 to £739 million, compared to £644 million in 2007. However, this profit was decimated by a £6.8 billion loss in the group’s corporate banking division. HBOS’s insurance and investments division includes Clerical Medical and Insight Investment. Lloyds [...]
Islamic financial services and insurance firms will remain strong through the global economic crisis because Shariah law prohibits interest-based financial products, Standard & Poor’s (S&P) said this week. Gulf-based Islamic financial institutions didn’t invest in the toxic debt and structured products that have wiped billions off the balance sheet of western companies. Takaful, a form [...]
A donation of over £20,000 has been made by Bupa International and the brokers of its health insurance to the medical charity Médecins Sans Frontières (MSF) in order to assist the ravaged people of Somalia, which has been embroiled in an interminable civil war for years. Somalia, which forms the perimeter of the Horn of [...]
Berkshire Hathaway Inc has reported a 96% fall in profit for the final quarter of 2008, to $117 million. The insurance company cum investment vehicle, headed by Warren Buffett, said the figures reflect losses on derivatives contracts. Pre-tax losses on around 250 such contracts tied to four stock markets amounted to $4.61 billion. Results for [...]
Bronwen Horn has been named by Novae Insurance Company Limited as the firm’s new development underwriter in Birmingham. In her new post Horn will be responsible for leading forward Novae’s presence in the region and begins work for the insurer with a focus upon financial lines products. She will support the current base of brokers [...]
