All Insurance Times articles in Issue 29-11-2007
View all stories from this issue.
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News
LitComp reports flat profits
The LitComp group has reported a flat profit despite a huge increase in premiums from its Gibraltar-based subsidiary, Elite.The group, which provides after-the-event insurance and is a national supplier of medico-legal reports, returned to profitability earlier this year. Its unaudited results for the six months to 30 September 2007 showed ...
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News
Argenta in £20m deal with Ark
Argenta Private Capital, the Lloyd’s members’ agent, is to provide £20m capital to Ark Syndicate 4020 – the first time private capital has accessed a totally corporate syndicate.The deal, subject to members’ approval, will see Argenta entering into a quota share agreement with Ark for the 2008 year of business.Argenta ...
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News
CCV nears target with 20th buy
CCV Group has made its largest acquisition to date with the purchase of Morgan Law, a specialist construction broker.The group has taken a “significant investment stake” in the Ipswich broker, which controls almost £20m in gross written premiums (GWP).This puts CCV on the brink of reaching its target of controlling ...
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News
ABI refuses to support pleural plaques testing
The ABI will not support payments to encourage suspected victims of pleural plaques to be tested, it said this week.Justin Jacobs, the association’s head of property, motor and liability, said that there were no grounds for payments of up to £1,500 to be made to suspected victims. He said medical ...
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News
ABI defends flooding role after Blunkett blast
Industry is “keeping its side of the bargain” says ABI chief
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News
Towergate strikes again
Consolidator to buy Broker Network for £95mLegal settlement reached with former staff who poached 65 clients
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News
Credit hire talks break up without agreement
Sides ‘too far apart’ to reach settlement on new rates for car hires
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Backchat
Lloyd’s masters show their art
Backchat was more than a little excited to receive a sneak peek at one of the exhibits from the Lloyd’s Art Group in the mail.The exhibition, which took place from 19 to 21 November in the Old Library, showcased over 100 works from 34 artists, and featured a range of ...
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Backchat
Caffeine catastrophe awaits us
It’s official: coffee is potentially harmful.Research by Allianz Engineering, which also brought us “why cement is sticky” and “watch out – it’s a JCB”, has shown that half of the boilers in London’s limitless array of coffee shops are not only hazardous, but could quite literally explode at any moment.That ...
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News
Marsh restructure raises axe over jobs
Broker reviews Norwich operation after scathing criticism of performance by group chief
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News
FSA investigates third party capture cases for bad practice
The FSA has launched an investigation into bad practice among insurers that deal direct with personal injury claimants who are not policyholders.The regulator is prepared to take action against the culprits, and change its rules, widening its remit to tackle the problem.It is examining whether insurers are contacting personal injury ...
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Comments/Letters
Motor profits in the balance
Michael Faulkner says that time will tell over the fortunes of the profitability of the private motor market
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News
Insurers to face barrage of subprime related claims
Professional rates at lowest levels in 10 years according to Willis backed survey
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News
Xchanging launches legal battle with Synergy
Xchanging, the electronic services provider, has launched legal action against Synergy Insurance Services – a company it helped set up – for alleged multiple breaches of a business agreement.Xchanging’s Ins-Sure Services claims in a High Court writ that Synergy, the managing general agent and intermediary, failed to pay £117,500 set-up ...
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News
Hardy moves closer to Bermuda decision
Hardy has moved a step closer to redomiciling to Bermuda, with chief executive Barbara Merry travelling to the country on a fact-finding mission.Merry said Hardy was undertaking a “very comprehensive review” of the Bermuda market, and accused the Treasury of “making the situation worse” in denying tax cuts to the ...
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Features
The buyback boom
Jardine Lloyd Thompson is the latest in a line of insurers preparing a repurchase program to buy back shares. As the trend grows, James Dean looks at its effect on the market
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News
News in Brief
Fitch upgrades NUFitch has upgraded Aviva International Insurance, Aviva Insurance and Norwich Union Insurances’ Insurer Financial Strength ratings from 'AA-' to 'AA', despite the £235m hit from the UK floods. The outlook for the group is stable.Ntegrity poaches twoStart-up PI broker Ntegrity has poached Lockton employee David Gleeson and Alison ...
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News
News in brief
Brit appoints PI writerBrit Insurance Holdings has appointed Clive Moore as North American professional indemnity (PI) underwriter. Moore has worked in the Lloyd’s and London markets since 1974, specialising in professional liability in the US for many professions, including lawyers, architects and engineers. Aon in captive cash dealAon Global Insurance ...
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News
Douetil defiant as Brit takes a fall
Brit shares suffered a drop in price following the release of its third quarter trading update this week – even though analysts were happy with the company’s reassurances over sub-prime exposure and falling rates.Chief executive Dane Douetil said he expected rates to improve “in the next 12 months”, and the ...