Insurer
S&P warns of price pressure in UK motor
The UK motor industry has enjoyed a period of stability and profitability over the past few years, but this will not continue without price rises, according to a report " U.K. Motor Market Continues To Report Profits, But Underlying Data Show Significant…
Heath Lambert group CEO toasts independence
Heath Lambert today reported a profit before interest, taxation and amortisation (PBITA) was up 19% to £8.6m for the first six months of 2006. UK Income was up 8% year on year, despite softening markets and the loss of revenue streams through divestments…
Lloyds TSB Insurance buys Pearl's GI book
Lloyds TSB Insurance has acquired the new and existing general insurance business of Pearl Group.
Jelf to sell AUA to Higos
Aim listed broker Jelf group has announced it will sell the existing book of business, including the database of supporting retail brokers, of underwriting agency AUA to Higos Insurance Services. The transaction is due to complete on 31 July 2006.
Fitch affirms Aviva ratings
Fitch Ratings has affirmed the Insurer Financial Strength ratings of Aviva's main UK life insurance operating subsidiaries at 'AA'.
Aviva boss Harvey hails deal as "important strategic move"
Norwich Union's parent Aviva has announced that it has agreed to acquire AmerUs Group in a transaction recommended by the board of AmerUs, for approximately $2.9 bn (£1.6 bn) in cash, financed by a £900m equity placing, internal resources and external…
NU parent Aviva admits new merger talks
Norwich Union's parent Aviva this morning confirmed that it is in discussions which may lead to it making another acquisition.
Layton Blackham reports improved performance
Broker Layton Blackham has released its 2005 results, reporting increased growth, improved profitability and profit (before the amortisation of goodwill) up by 32% to £2.5m.
Layton Blackham acquires in West Midlands
Layton Blackham has announced the acquisition of Cox Hepburn Insurance Services.
UKI lays off 100 staff
Royal Bank of Scotland Insurance’s subsidiary UKI Partnerships has made around 100 staff redundant, following a review of the company’s operations.
Towergate brings in new finance director
Towergate has announced the appointment of Ian Patrick as group finance director. Patrick's most recent position was group finance and operations director at Highway Insurance.
RBSI boasts of increased income despite competition
Royal Bank of Scotland this morning hailed the performance of its insurance division in the first quarter of 2006.
Groupama appoints new distribution director
Groupama Insurances has promoted Cathie Bruce to the role of distribution and customer service director, replacing the vacant posaition left when Amanda Blanc resigned this year to join Towergate.
Hearn new CEO of Willis Re
Willis Group Holdings has announced that Peter Hearn has been promoted to chief executive of Willis Re, where he will oversee the unit's global efforts. Grahame Millwater, previously chairman and chief executive of Willis Re, remains as chairman.
Catlin sees 28% increase for loss-affected business, modest slide elsewhere
In an AGM statement Bermudian (re)insurer Catlin Group conformed the divergent (re)insurance market, reporting a weighted average premium increase of 28% for hurricane-affected areas, but a 1% premium discount for other areas.
Credit insurer opens London Market business
Credit insurer Coface UK has created a new London Markets team to co-ordinate the promotion of its range of products to brokers and specialist financial institutions dealing within the London market.
Jelf makes acquisition
Bristol-based broker Jelf has announced the acquisition of Oxfordshire-based Insurance Brokers Cherwell Insurance Management.
Sullivan appointed non-exec chairman of Transatlantic Holdings
Transatlantic Holdings, parent companuy of Transatlantic Re, has elected AIG President and CEO, Martin Sullivan its non-executive Chairman. AIG owns approximately 60 percent of TRH's common stock.
Carnegie-Brown quits Marsh
Bruce Carnegie-Brown, broker Marsh's Europe and Middle East chief executive, has resigned from the company.
Donner joins RenRe as new CFO
RenaissanceRe Holdings has announced that Fred R. Donner is joining the company as executive vice president and chief financial officer. He succeeds John M. Lummis who is retiring from the company effective June 30, 2006.
NFU Mutual to redeploy staff after selling broker arm to Towergate
NFU Mutual today confirmed the sale of Country Mutual Insurance Brokers to the Towergate Partnership.
Magnificent seven honoured
The Chartered Insurance Institute has granted seven industry figures Honorary Fellowships for "outst...
Levene and Woodburn bestowed highest CII honour
The Chartered Insurance Institute has announced that it has recognised the outstanding contribution of seven individuals to the insurance and financial services industry by granting them Honorary Fellowship (Hon. FCII) of the Institute.
Willis first quarter revenues fall 5%
Willis Group Holdings today reported results for the quarter ended March 31, 2006.