The Chartered Institute of Loss Adjusters (CILA) has announced that the examinations for its new entry level qualification (Cert CILA) have now gone live. Students can now register online to take their examination on demand at a range of online test centres around the country. The course, launched in March this year, lead to a [...]
XL Group plc has reported its financial results for the first quarter of 2011, including an operating net loss of $163m, equating to $0.52 per share. This contrasts with an operating net profit of $149.6m ($0.44 per ordinary share) achieved in the corresponding period last year. The firm also incurred a net loss attributable to [...]
Crawford & Company has reported its financial results for the quarter ended 31 March 2011, including net income of $12.1m. This is a huge 298% increase on the corresponding period in the previous year when the firm made net income of $3.1m. Consolidated revenues, prior to reimbursements, were recorded at $285m, a 21% year-on-year rise [...]
Global insurance broker Willis Group Holdings plc has reported its financial results for the first three months of 2011. Quarterly net income was recorded at $34m, equating to $0.20 per diluted share, one-sixth the $204m ($1.20 per diluted share) achieved in the corresponding period last year. Net income also fell on comparison with Q4 2010 [...]
Insurers’ catastrophe bond appetite remained healthy during the first three months of 2011, according to Aon. In a new study, Aon Benfield Securities, the group’s investment banking subsidiary, reports that several catastrophe bonds with exposure to the Japanese event may be impacted by the earthquake and related seismic activity. Generally speaking, most catastrophe bonds with [...]
JLT Reinsurance has expanded its capabilities in Central and Eastern Europe with the appointment of Guy Hudson as a partner and Russell Henwood as an associate. Both have joined JLT Re’s non-marine treaty team and whilst working to build the existing European practice will also be broadening the firm’s international reinsurance offering. Mr Hudson’s experience [...]
Helphire Group plc has announced the appointment of Penny Stoolman as the firm’s new group commercial director. Stoolman is presently managing director of Helphire subsidiary Total Accident Management (TAM). She brings extensive experience to her new position with the firm, having worked in sales, marketing and strategic development positions for a number of firms including [...]
Marsh & McLennan Companies, Inc. (MMC) has reported its financial results for the quarter ended 31 March 2011. The firm recorded consolidated revenue of $2.9bn, a 9% rise on the corresponding period in 2010 when the firm made $2.8bn. Quarterly net income increased by 31% from $248m in the same period last year to $325m, [...]
KPMG is warning that delays to the finalisation of Omnibus 2 are impacting the Solvency II timeline, increasing fears that neither insurers nor regulators may be fully prepared for implementation on 1st January 2013. According to the financial services firm, under the original draft of Omnibus 2, the European Insurance and Occupational Pensions Authority (EIOPA) [...]
Brit has launched a new package policy designed specifically for the US higher education sector. Property and liability cover includes auto, educators’ legal liability, campus security activities and student practices’ liability, in addition to workers’ compensation and crime coverages. Enhanced property and liability terrorism cover is also available and colleges and universities are provided with [...]
Project Brokers, the global business intelligence (BI) consultancy, has announced two appointments to its senior team. Richard Terblanche has joined as Director of Sales, while David Anderson, until recently the company’s head of business consulting, is now Chief Financial Officer. “These appointments are essential to the next phase of our growth,” said Daren Cox, Managing [...]
Technology failure and lack of innovation have joined talent recruitment among the top 10 risks ranked by business leaders, as scored by Aon’s global risk management survey. However, business leaders across the globe identified economic risk as the greatest threat they face today, with the threat of sustained economic trouble weighing heavily on the nearly [...]
Aviva has appointed Cathryn Riley as its chief information officer, effective immediately. Reporting directly to chief executive, Andrew Moss, Ms Riley will focus in particular on defining the group’s global IT strategy and determining the best use of emerging technology for Aviva and its customers. Previously Ms Riley has held senior business and IT leadership [...]
Aon Corporation has reported its financial results for the first quarter of 2011, including net income attributable to Aon stockholders of $246m or $0.71 per share. This is a rise of 38% compared to the corresponding period last year when the firm made $178m or $0.63 per share. It is also an improvement on the [...]
Brit Insurance has appointed Daniel Mitchell as UK portfolio manager, professional risks. Working alongside a team of portfolio managers, Mr Mitchell will report directly to Ray Cox, chief executive officer of Brit’s UK business unit. Having spent four years as financial risks underwriting manager for the group’s London region, Mr Mitchell was previously responsible for [...]
International general insurance and reinsurance group Brit Insurance has announced the appointment of Daniel Mitchell to the post of UK Portfolio manager, Professional Risks. In his new position he will be tasked with developing strategy, setting pricing and reviewing the appetite for risk. Prior to his appointment he spent four years in Brit Insurance’s London [...]
PartnerRe Ltd. has reported its quarterly financial results, including a net loss of $807m, equating to $11.99 per share on a fully diluted basis. This compares with a Q1 2010 net income of $79.7m, or $0.85 per share on a fully diluted basis. In the immediately preceding quarter, Q4 2010, PartnerRe made a net profit [...]
Central Insurance has acquired Collins, Halden & Burnett, an Aberdeen-based independent broker, in a deal worth £2.6 million. The firm’s 23 staff will transfer to the new owner’s main office, also in Aberdeen, bringing the number of staff employed by Central to 113. The acquisition, financed by cash and shares, will boost Central’s premium placement [...]
