Heath Lambert has announced it is expanding its PI team with a number of fresh appointments. Chris Milnes leaves behind Griffiths and Armour, where he worked in the ACE department, to join the firm as an account executive. In addition to Milnes, the team is being strengthened with the appointment of Louise Gilmer and Graham [...]
Helphire has posted a full-year pre-tax loss of £149 million for the 12 months to 30 June. Adjusted operating profit before tax fell 90% to £4.7 million, down from £55.4 million last year. The company, which supplies replacement vehicles to drivers whose cars are being repaired following an accident, blamed the loss on non-cash exceptional [...]
The Law Society Gazette has reported that the cost of insuring the legal profession against professional negligence claims has prompted one in 20 UK law firms to lapse their commercial professional indemnity cover with provider, ARP The insurance is unusual because it has a universal renewal date at the start of October, as the legal [...]
Insurance broker and risk adviser Marsh has appointed Tom Ernoult to head up its UK Southern Region for its Middle Market business. He returns to Marsh, leaving behind Giles where he served as director of underwriting services. Earlier in his career Ernoult worked for Heath Lambert, and has served as MD of Oxygen Insurance Brokers, [...]
ACE Life has announced the appointment of Abdallah D. “Budy” Kubursi as managing director of the firm’s Middle East & North Africa (MENA) businesses. Kubursi leaves behind AIG, where he served as regional VP of Middle East, Mediterranean & South Asia Region and global head of AIG Takaful Enaya, to join ACE. He will be [...]
Aviva has confirmed details of the reattribution of the with-profits surplus from its CGNU and CULAC funds, having secured High Court approval for the settlement earlier this month. The final value of the reattribution stands at £1.25 billion and the total payout to policyholders is worth £470 million, meaning that 90% of eligible customers will [...]
Aviva has completed the sale of its Australian life and pensions and wealth management businesses. Aviva Australia Holdings Ltd has been acquired by National Australia Bank for £452 million. The sale supports Aviva’s strategy of focusing on the key growth markets in Asia where the group believes it can attain leading positions, compared to a [...]
The British insurance sector is holding up well, despite the recession, according to the Association of British Insurers (ABI). Insurance accounts for approximately one-third of those employed in financial services, and 2008 saw a moderate rise of 1.3% to 313,000 individuals working in the sector. Net premium income from general insurance rose by 3% to [...]
Global insurance broker Willis Group Holdings has announced that it has acquired 100% of the share capital in Herzfeld Willis S.A. (Retail operation) and Willis S.A. (Reinsurance operation) in Argentina. Ten years ago Willis acquired a 20% stake in insurance broker Herzfeld & Levy and established its presence in Argentina in doing so. Herzfeld & [...]
