All Insurance Times articles in Issue 04-12-2008
View all stories from this issue.
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NewsLucas Fettes plans more growth as turnover lifts 11%
Lucas Fettes has announced an 11% increase in turnover to £12.3m for the year ending 31 March 2008. Operating profit rose 7% to £799,864 in the same period.“We achieved this through the maturity of more of our trading divisions, while also taking into account the funding of developments that have ...
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NewsAon to axe 700 jobs as Harmer revamps business
Rival broker Willis also confirms losses, but denies report that 400 employees could go
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NewsWe’re not about to sell to rival, says GAB Robins
The loss adjuster GAB Robins has denied reports that it is in due diligence with a third party over a sale.However, it is believed Cunningham Lindsey, a rival loss adjuster, could make a move for GAB Robins’ international division.The private equity firm Stone Point Capital, which has a controlling stake ...
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NewsCullum linked to Utley’s bid for Hastings and Advantage
Towergate chairman and private equity groups line up to back management buy-out
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People & OpinionColumnist: What are we all doing here?
Philippe Maso on why a global financial crisis is the perfect opportunity to reflect on how the insurance industry works
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NewsMore jobs to be cut at Allianz Retail
Allianz Retail general manager Jon Dye has continued his shake-up of the business, cutting another 90 jobs.The job losses follow a September restructure of the retail division that could lead to up to 170 redundancies by June next year. The new cuts are the result of a plan to refocus ...
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NewsAmlin looks to the US for non-catastrophe business
It’s an obvious market to look at – although we’re not in a hurry to get in, says Lloyd’s insurer
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NewsPoor markets force AXA to give up financial targets
AXA Group has torn up the “Ambition 2012” financial targets it set in 2004 and issued a profit warning. The insurer’s ambition to triple operating earnings and double income by 2012 was based on the assumption that equity markets would grow each year by 8%.But it said this week that ...
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BackchatBackchat
Creme de la crimeDespite the best efforts of Groupama big cheeses Francois-Xavier Boisseau and Laurent Matras – who could build quite a career in comedy if insurance doesn’t work out for them, what with their “Ooh, aah Groupama” routine – the entertainer “Keith the thief” stole the show at the ...
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NewsAre you being served?
Not all that well, say Britain’s brokers in this year’s survey of service from insurers. Hiscox and Chubb got first-class honours, but it’s a different story for companies in the chart’s lower reaches
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News AnalysisThe big score
The Met’s plant intelligence unit – funded by insurers – has saved the industry £2m in eight weeks. Lauren MacGillivray and photographer Cecile Mella joined the hunt for stolen goods at Tilbury port
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News
Junction boss to shift focus
Junction’s new boss is to shake up its new business strategy and broaden its product portfolio.Peter Thompson, the managing director appointed in January, said he would shift the focus of the affinity arm of BGL Group away from working with brands new to the sector to brands that already offered ...
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NewsFinancial news in brief
Profits bonus for QBEAustralian insurer QBE has announced that the depreciation of the Australian dollar will mean profit is 25% higher than 2008 predictions. In the past year, the company has gone on a spending spree in the US and Europe and has bought three US underwriting agencies. But as ...
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NewsNews in brief
Ten members for Willis N2Willis N2, a network for brokers with annual gross written premium of £1m to £2.5m, has signed up 10 members in its first six months. Mark Radburn, the network’s managing director, said he expected the numbers to increase. “It takes people time to understand what we ...
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In BusinessMergers: what brokers really think
Why do independents sell up? Do they think larger firms do a better job? Insurance Times wanted to know too, so we asked them. Read on for the answers
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NewsSolvency II hits buffers as EU ministers ditch group proposals
New regulation set to be delayed
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NewsLeader: Doing business in the new economy
Decision-making has never been so tough for chief executives as they attempt to navigate this period of instability. Philippe Maso of AXA presents his vision for the future on page 24. He insists this crisis is primarily about banks, not insurers. Our first ever cover star, Peter Harmer, agrees (see ...