Catlin Announces Forecast Writedowns
by Stewart Douglas
Story link: Catlin Announces Forecast Writedowns
Insurer Catlin has today announced its expectations of a writedown totalling $75 million in recognition of losses it sustained against sub-prime linked securities, most of which value was eradicated during the sector collapse of the early summer months.
The group said that it had managed to offload a proportion of its sub-prime debt, although it did […]
The Broker Network and Towergate In Takeover Agreement
by Stewart Douglas
Story link: The Broker Network and Towergate In Takeover Agreement
Intermediary group The Broker Network has today received and accepted a takeover approach by Towergate for its business and assets, valuing the company at just under £100 million, as the company looks to expand its reach through its aggressive programme of targeted acquisitions.
The announcement today was made to the London Stock Exchange, to the effect […]
The Insurance Partnership Continues Expansion
by Stewart Douglas
Story link: The Insurance Partnership Continues Expansion
The Insurance Partnership has today announced it has appointed a new commercial account executive in the form of Mike Ratcliffe in the latest of several high profile appointments at the insurance firm.
The Insurance Partnership, having undergone an extensive programme of expansion over the last few years, have announced today that Chartered Insurance Institute associate Mike […]
JLT Announced Share Buyback
by Stewart Douglas
Story link: JLT Announced Share Buyback
Insurer JLT has today announced it is looking to buy back capital equity to the value of £40 million, as part of a wider share buy back strategy designed to manage the capital makeup of the firm with a view to funding future strategic investment moves.
The news comes following several other similar moves by insurance […]
RK Harrison Buys IRC Europe
by Stewart Douglas
Story link: RK Harrison Buys IRC Europe
R K Harrison Holdings have today announced they have succeeded in their bid to acquire insurance group Indemnity & Risk Management and their held subsidiary International Risk Consultants (Europe) in a move that will see the group extend its reach into diverse insurance markets.
R K Harrison Holdings, parent of brokers R K Harrison Insurance has […]
London & European And Zurich Extend Partnership
by Stewart Douglas
Story link: London & European And Zurich Extend Partnership
Insurance company London & European has today unveiled that their binding agreement with insurance company Zurich has been extended at the instance of Zurich to continue to provide mutual support services between the two firms.
The agreement between the two companies has seen Zurich underwriting on London & European’s titlesolv.com, which deals in indemnity policies for […]
KGM Announced Absolute Partnership
by Stewart Douglas
Story link: KGM Announced Absolute Partnership
Lloyds insurer KGM Insurance has today announced it has reached an exclusive three year agreement with fraud experts Absolute CM in order to assist in the management of claims and in developing innovative cognitive interviewing designed to uncover fraudulent claims.
Absolute CM are notable specialists in developing interviewing techniques that are designed to oust fraudulent claims. […]
Beazley Announce 5% Share BuyBack
by Stewart Douglas
Story link: Beazley Announce 5% Share BuyBack
Insurance group Beazley have today announced that they have initiated an aggressive capital equity buyback process which will see it re-acquire around 5% of its ordinary share capital, through its broker division Numis Securities, over the course of the next few months.
The move will see the company attempt to reacquire a stake in itself in […]
ABI Cite Foreign Road Users As Threat To Safety
by Stewart Douglas
Story link: ABI Cite Foreign Road Users As Threat To Safety
The Association of British Insurers has today called on the UK government and the European Community to tighten regulations regarding foreign drivers, which it found to be responsible for a significant proportion of road accidents throughout the European Union and the UK specifically.
Working alongside motoring pressure groups the ABI reported that an increasing number of […]
Venture Preference Announce Triple Crown Of Acquisitions
by Stewart Douglas
Story link: Venture Preference Announce Triple Crown Of Acquisitions
Insurance group Venture Preference has today announced an increase in its gross written premiums figure after several notable acquisitions within the insurance brokerage market helped boost profitability across its business divisions.
The holdings group announced that its top level gross written premiums figure had increased by £25 million thanks to the acquisitions of two medium size […]
AIRMIC Welcomes Insurance Reform Proposals
by Stewart Douglas
Story link: AIRMIC Welcomes Insurance Reform Proposals
Airmic has today announced its support for proposals by the Law Commission to radicalise the law in relation to contracts of insurance and the corresponding implied terms in the UK market, as a move that would help modernise insurance law and redefine the parameters of the industry.
The Association of Insurance and Risk Managers (AIRMIC)today supported […]
Report Reveals True Extent of Loss on D&O From Sub-Prime
by Stewart Douglas
Story link: Report Reveals True Extent of Loss on D&O From Sub-Prime
The total loss to the insurance industry on Directors’ & Officers’ cover as a result of the sub-prime sector could top $2 billion this year, rising further until 2009 according to an industry report released today.
The news sees a valuation put on the expense to the insurance industry for failing of directors and officers of […]
AIG Announces Weak Q3 Results
by Stewart Douglas
Story link: AIG Announces Weak Q3 Results
Insurance group AIG has today announced disappointing third quarter results, largely stemming from a tougher commercial environment in light of the problems with the US housing market and the sub-prime crisis.
In the figures released today profits had fallen 27% on the last quarter, down to just $3.09 billion from $4.2 the year previous for the […]
Equity Acquire Diamond
by Stewart Douglas
Story link: Equity Acquire Diamond
Insurance brokers Equity have today announced further steps towards expansion, with the news that it had acquired Northern Irish broker Diamond Insurance in what has been its 19th acquisition overall over the last few years in its aggressive growth strategy.
The news will see Equity enhance its standing in the Northern Ireland market after acquiring the […]
Comparethemarket.com Partner With ZenithOptimedia
by Stewart Douglas
Story link: Comparethemarket.com Partner With ZenithOptimedia
Insurance comparison website comparethemarket.com has today announced it has partnered with marketing agency ZenithOptimedia in a move that will see the company step up its marketing investment to £20 million over the coming twelve months.
The website, one of the leading price comparison websites online, has announced that it is to step up its marketing efforts […]
Aspen Announce Third Quarter Profitability
by Stewart Douglas
Story link: Aspen Announce Third Quarter Profitability
Insurance group Aspen has today announced strong performance over the third quarter of the year, and on the first nine months as compared to the same period last year after its promotional drive and expansion over the course of this year.
The US based global group reported strong profitability and increased revenues for the third quarter […]
Legal Services Act Rubber Stamped
by Stewart Douglas
Story link: Legal Services Act Rubber Stamped
The arrival of an independent body for dealing with legal complaints in England and Wales is now even nearer following the Royal approval of a new Act of parliament designed to take control of consumer complaints away from the legal profession.
The new Act, entitled the Legal Services Act will also pave the way for firms […]
Lancashire Holdings Profits Up On Year
by Stewart Douglas
Story link: Lancashire Holdings Profits Up On Year
Insurer Lancashire Holdings has today unveiled strong profitability for the third quarter ended September, as a result of its continued growth through exsting markets and growing leverage in expanding sectors.
Additionally the firm reported strong performance over the nine months to September as compared to previous three quarterly and year end figures, as well as announcing […]
BGL Group Profits Increase Strongly On Financial Period
by Stewart Douglas
Story link: BGL Group Profits Increase Strongly On Financial Period
Insurance intermediary the BGL Group has today announced strong growth and profit figures for its accounting period to the end of June in what has seen it set new record highs in both areas.
The group formerly known as the Budget Group today released their accounts for the accounting period ended June ‘07, which saw record […]
Willis Insurance Announce Strong Q3 Performance
by Stewart Douglas
Story link: Willis Insurance Announce Strong Q3 Performance
Insurance group Willis has today announced its third quarter results to the end of September, marking a substantial increase in earnings over the period on results from the previous year, with overall revenues rising by 6% on the period as a result of its continued growth strategy.
The group reported an increase in income of $67 […]
