Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 21st of January 2018
May 18, 2009

JLT secures major contract with BAA Airports

by Gill Montia

Story link: JLT secures major contract with BAA Airports

Jardine Lloyd Thompson (JLT) has secured a minimum five-year contract with BAA Airports to provide insurance broking and risk management services for the latter’s construction activities at UK airports. BAA operates seven airports across the country and has extensive plans for expansion and redevelopment involving an investment of £6 billion. Of this, £4 billion is […]



BGL launches personal accident cover

by Gill Montia

Story link: BGL launches personal accident cover

Personal lines broker, BGL Group, has expanded into personal accident cover. The firm has developed the new offering in partnership with Avon Insurance and will be marketing it across all brands, including Budget, ibuyeco, Quote Mart and Dial Direct. Cover will also be available via partner brands of the firm’s affinity arm, Junction, in the […]



Liability reminder for holiday home owners

by Gill Montia

Story link: Liability reminder for holiday home owners

A regional insurance firm is warning owners of holiday homes across the South West that they could be breaking the law if they have no insurance cover in place on their properties. According to Cornish Mutual, many people may be unaware that employers’ liability insurance is a legal requirement for those running a business and […]



AIG hastens Asian business spin-off

by Gill Montia

Story link: AIG hastens Asian business spin-off

American International Group (AIG) is proposing to spin-off American International Assurance (AIA), its Asian life insurance business, earlier than expected. The group, which is now majority owned by the US taxpayer, says it will seek a listing for the unit on an Asian stock exchange, having considered this to be in the best interests of […]



May 17, 2009

RSA launches Data Security Standard support

by Gill Montia

Story link: RSA launches Data Security Standard support

RSA is offering companies an opportunity to improve their IT security in a bid to reduce credit card fraud and protect customer data. The insurer is introducing a new scheme which includes workshops, consultancy and online analysis, aimed at supporting firms in achieving the Payment Card Industry Data Security Standard, set by the Security Standards […]



May 15, 2009

Fortis reveals strong Q1 performance

by Richard Kilner

Story link: Fortis reveals strong Q1 performance

Fortis Insurance has released its first quarter performance which show ongoing success for the firm. By the end of Q1 Fortis’ non-life GWP rose by 11% to £197.4m compared to the previous quarter which recorded gross written premiums totalling £177.7m. It also marked a 7% rise on the same period last year (Q1 2008) which […]



Lancashire Q1 premiums down 23%

by David Masters

Story link: Lancashire Q1 premiums down 23%

Lancashire Holdings has posted its results for the three months ending 31 March 2009, with premium income down by almost a quarter. Gross written premiums for the Bermuda-based insurer dropped 23% on year to $142.8 million, down from $186.7 million. Pre-tax profits fell 53% to $41.0 million, down from $86.4 million in the year ago […]



Six US insurers awarded government bailout funds

by David Masters

Story link: Six US insurers awarded government bailout funds

Six of America’s largest life insurance firms are set to receive bailout funds from the US Treasury. Prudential, Lincoln National, Allstate, Principal Financial, Hartford Financial, and Ameriprise have all been granted preliminary approval to receive funds from the Troubled Asset Relief Program (TARP). The share price of many insurers rose between 3% and 6% following […]



Heath Lambert hires pair of ex-Bluefin directors

by Richard Kilner

Story link: Heath Lambert hires pair of ex-Bluefin directors

Heath Lambert has hired two ex-Bluefin directors to bolster its expansion plans nationally and in the north west region. Together the pair brings with them over 40 years of corporate client experience and have occupied a range of senior risk and captive management positions over the course of their careers. Ron Doidge was formerly a […]



QBE signs up to the COA system

by Richard Kilner

Story link: QBE signs up to the COA system

QBE and ISO have signed a five year contract after a 12 month evaluation period of the COA system, in addition to which QBE has signed up to the COA Bureau Service. Utilising the software is expected to grant QBE substantial advantages, including a higher degree of settlement values consistency throughout the firm. Underwriters and […]



May 14, 2009

Sterling supports brokers with commercial survey service

by Gill Montia

Story link: Sterling supports brokers with commercial survey service

Sterling Insurance Group has launched a no cost, no obligation pre-cover commercial survey service to help its brokers win new business. For risks that fall within the company’s preferred risk profile, the commercial insurer is offering a full risk management survey by in-house commercial surveyors, free of charge. The initiative allows brokers to control the […]



Marsh hires offshore energy construction head

by Richard Kilner

Story link: Marsh hires offshore energy construction head

Insurance broker and risk adviser Marsh has announced the appointment of Nabil Khawaja to head up the offshore construction team within the Global Energy Practice. He has previously worked for Marsh in the energy construction unit, leaving the company in 2005. Khawaja leaves behind Benfield Corporate Risk to join Marsh, and brings to his new […]



Pru reports 5% fall in sales

by Gill Montia

Story link: Pru reports 5% fall in sales

Prudential has reported a 5% fall in sales during the first quarter of 2009, to £697 million. However, the life and pensions provider points out that sales volumes for the first quarter of 2008 were “exceptionally strong” and that figures for the first quarter of 2009 are broadly stable when compared to the previous three […]



L&G reports 3% rise in worldwide sales

by Gill Montia

Story link: L&G reports 3% rise in worldwide sales

In an interim statement, Legal & General (L&G) has reported a 3% rise in worldwide new business sales for the three months to the end of March, to £382 million. The insurer said its investment management unit went “from strength to strength” with gross new funds increasing to £7.5 billion in the first quarter of […]



May 13, 2009

Heath Lambert creates single GI retail division

by Gill Montia

Story link: Heath Lambert creates single GI retail division

Heath Lambert is merging its core general insurance retail activities into one Heath Lambert Retail unit. The move involves the integration of the following divisions: retail – major, financial and professional; retail – national, which includes art, jewellery and private client; treaty solutions and professional risks; commercial affinity and small business. Two positions are being […]



May 12, 2009

ABI promotes home insurance in North West

by Richard Kilner

Story link: ABI promotes home insurance in North West

The Association of British Insurers (ABI) has launched an initiative in response to the large number of households in the North West who lack home contents insurance. The campaign comes shortly after the British Insurance Brokers’ Association (BIBA) published research showing that the recession is affecting home and car owner behaviour and reducing the number […]



Ironshore appoints Property & Casualty VP

by Richard Kilner

Story link: Ironshore appoints Property & Casualty VP

Ironshore Inc. has announced that John Reusch has been appointed as vice president of Property & Casualty Claims. Reusch brings with him almost a quarter of a century of claims experience and most recently managed the US direct, excess and reinsurance commercial property and casualty claim operation of Allied World Assurance Company (U.S.) Inc. (AWAC). […]



Amlin expands UK property team

by Richard Kilner

Story link: Amlin expands UK property team

Specialist insurer Amlin has expanded its UK Property team with a quintet of former Zurich underwriters. David Hancock has been named as leading class underwriter, Property and Package, and will report directly to Brian Carpenter, Amlin UK underwriting director. He brings with him extensive underwriting experience from more than two decades in the industry, and […]



Amlin appoint head of Group Risk

by Richard Kilner

Story link: Amlin appoint head of Group Risk

Specialist insurer Amlin Plc has named Alex Hindson as the new head of Group Risk. He leaves behind Aon Global Risk Consulting where he leads a team of a dozen consultants as head of Enterprise Risk Management for the EMEA region, formulating and enacting risk management solutions for large global clients. Prior to Aon, Hindson […]



Marketform introduces five new business classes

by Gill Montia

Story link: Marketform introduces five new business classes

Marketform Group, which describes itself a leading provider for non-US medical malpractice and other specialty lines, is underwriting five new classes of business. American Financial Group, owner of Great American Insurance, became the insurer’s majority shareholder in December of 2007 and the group’s chairman, Holly Bellingham, describes the expansion as “a natural progression following the […]