AEGIS London has announced the creation of a new accident and health underwriting team to be headed by Class Underwriter Nick Waymark. Waymark will be supported by Deputy Class Underwriter Paul Fillbrook. Waymark will be responsible for building up a book of accident and health risks in a range of sectors, including marine and aviation. [...]
Aviva has announced that it has selected hyphen to act as its Managed Service Provider for General and Professional contract recruitment across the UK. Aviva spends £20m per annum on the category, and hyphen’s contract for this substantial area began in October and will last for an initial period of 3 years. The selection has [...]
Beazley has described its trading performance in the first nine months of 2009 as “good”. The Lloyd’s insurer says underwriting conditions have been favourable with rate increases averaging 4% across its portfolio. Written premiums grew by 45% over the equivalent period in 2008, to £861.9 million, the rise driven by acquisitions, organic growth and the [...]
Aviva has enhanced its offering to small motor traders. Firm’s can now purchase either a Combined or a Road Risks only contract, enabling a business to extend its insurance protection in line with growth. Small motor traders will still be able to select “open” driving Road Risks cover as part of the Combined contract and [...]
American International Group (AIG) reported a net profit of $455 million for the third quarter of 2009, compared to a loss of $24.4 billion in the same period of 2008. The insurance giant needed a massive $85 billion bail out in the days that followed the collapse of Lehman Brothers last September, with the scale [...]
Thornside has been appointed by Aviva to provide and administer its new pet insurance product. The firm, which is the pet insurance division of Capita Insurance Distribution, will be providing the service for the next three year. Aviva says it has been working closely with Thornside to refine the new policy, which was launched on [...]
Professional indemnity firm, DUAL Corporate Risks, has appointed Liz Hanlon to its DUAL Focus team. The firm specialises in directors & officers and professional indemnity underwriting for mid-market companies, and its Focus unit provides insurance solutions for more complex financial-institution based risks. Ms Hanlon has 20 years’ industry experience and will be responsible for launching [...]
In a trading update covering the first nine months of the year, Aviva has reported an 11% drop in total worldwide sales (and life and pension sales) to £27 billion. Total life and pension sales slipped to £24.06 billion, from £27.01 a year earlier and investment sales were down to £3.04 billion (£3.37 billion). The [...]
Aviva, the UK’s biggest insurer, is considering bidding for assets to be sold by ING. The Dutch bank is proposing a €22 billion programme of disposals having embarked on a “back to basics” restructuring as a result of receiving €10 billion in state aid last year. The group has also recently announced that it will [...]
Recently formed Octagon Insurance Company Limited has chosen Open GI to power its underwriting operation (which began work this month). The firm is a specialist in private car insurance sourced through Go Compare, and intends to expand into commercial vehicle and household insurance during 2010. Open GI has been selected by Octagon after an extensive [...]
Motorcycle claims and repair specialist BLD Group has announced the appointment of Dominique Horton to the post of finance director. Horton joined the firm last year as financial controller, and her promotion will see her responsible for BLD’s Finance, IT and HR departments. She’s a keen biker, recently enjoyed her first track day and regularly [...]
Aviva has lifted restrictions on withdrawals from its Unit-Linked Property Fund (Life and Pensions). The group introduced restrictions on surrenders, switches and transfers from the fund in January, following what was described as “a difficult period in the UK commercial property market”. At the time, Standard Life, Scottish Widows and AXA made similar arrangements. The [...]
W. R. Berkley Corporation has announced the election of W. Robert Berkley, Jr. by the Board of Directors to the positions of president and chief operating officer. Berkley, who assumes his new appointments with immediate effect, will be responsible for management of all the firm’s operating units. He joined the firm 12 years ago, and [...]
Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for Q3. President and CEO Brian Duperreault has said that the firm enjoyed strong earnings in the quarter, particularly in the Risk and Insurance Services segment, with both Marsh and Guy Carpenter performing well. Consolidated revenue was down 11% from Q3 2008, to $2.5bn, [...]
Kerrie Kelly has been named by the ABI (Association of British Insurers) as its new director general. Kelly is presently executive director and CEO of the Insurance Council of Australia, and will assume her new position in February of next year. She brings with her extensive experience and has held senior posts within both the [...]
Swinton Insurance, the high street broker, has chosen Open GI technology to run its Northern Ireland operations, providing around 300 users with support. The contract between the two firms is to last for four years, and includes the Open GI core trading system, support services and powerful reporting software. Swinton is going from strength to [...]
Oval Limited has announced its financial results for the year ending 31st May 2009. During the course of the year turnover increased from £90.5m to £104.6m, a rise of 16%, somewhat lower than expected due to the ongoing impact of the recession on customers. Income before tax, depreciation and other costs was up 7%, from [...]
According to a BBC report, insurers Allianz, Generali and Zurich could show an interest in branch networks to be sold by Royal Bank of Scotland (RBS) and Lloyds Banking Group. Both banks are to receive further huge bailouts from the Government: £33.5 billion for RBS and £5.7 billion for Lloyds, the latter taking the form [...]
Towergate Partnership has expanded its presence in Scotland with the acquisition of Money Wise (Scotland) Limited, which has offices in Banff and Buckie. The firm’s 15 staff and directors have transferred to Towergate and the team will continue to be led by managing director, Bruce Law. Money Wise controls premiums of over £3.5 million and [...]
Swiss Re has reported that it made net income of CHF 334m in the third quarter of 2009. This compares favourably with a loss in Q3 2008 of CHF 304m, and in Q2 2009 when the firm incurred a loss of CHF 381m. Chief Executive Officer Stefan Lippe responded to the results by describing them [...]
