Latest News – Page 1901
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News
Reinsurance rates plunge on back of low catastrophe losses
1 January renewal season sees rates fall by up to 15%
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News
THB says PWS talks continue
Listed broker THB Group said this week that discussions to acquire PWS were ongoing, despite the deal failing to conclude by the end of 2007 as originally anticipated.In a stock exchange announcement, THB said it was in advanced discussions for the acquisition of the Lloyd’s broking business of PWS International ...
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News
MMC chief axed as group performance slides
Michael Cherkasky, the chief executive of Marsh & McLennan Companies (MMC), the parent of global broker Marsh, has been axed in the wake of the group’s poor financial performance in 2007.The board of directors said that a change in leadership would “best enable MMC to move forward and enhance shareholder ...
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News
News in brief
Highway reviews car productBroker-only personal lines insurer, Highway Insurance, overhauled its screen-driven EDI Choice Private Car product after a major review of its rating structure.AXA buys Russian stake AXA acquired a 37% stake, worth $1.16bn (£586m) in Russian insurer RESO-Garantia, one of the largest insurers in the country. The move ...
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News
Stackhouse Poland in HNW joint venture
Guildford-based broker Stackhouse Poland is to launch a new joint venture company to boost its high net worth (HNW) business.The broker, which specialises in HNW private clients, SME and the charity sector, also revealed it was set to make two acquisitions as it looked to increase fee and commission income ...
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Backchat
Over the top
A travel insurance company has warned that merry skiers are at risk of invalidating their insurance cover if they hit the slopes drunk. Research by InsureandGo has revealed that 11% of people who have skied or snow-boarded – an estimated 1.38 million people – have done so while under the ...
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Features
What changes will 2008 bring to the industry?
Insurance Times predicts what will happen in 2008, and casts its eye over the big events of 2007
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News
Airline insurance faces first loss since 2000
The airline insurance market looks set to make its first loss since 2000, according to Aon.The broker said the total lead hull and liability premium in the market was likely to be around $1.46bn (£736m) for the whole of 2007, but with claims totalling at least $1.53bn.The high level of ...
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News
Aggregators help small insurers boost business
Small providers of motor and household cover performed well in 2007, say researchers
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News
Allianz leads in use of recycled motor parts
Other insurers are expected to follow Allianz’s lead in using recycled parts in motor vehicle repairs.Allianz this week announced it would launch a permanent recycled parts programme, following a successful pilot project.It claimed it was the first UK insurer to offer such a scheme, which offered policyholders the chance to ...
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Online only
Voluntary slaughter cover now on the market
Powell Insurance developed product in response to challenges facing egg farmers
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Cassidy Davis to provide home emergency service cover
Partnership with Europ Assistance gives round the clock protection for mortgate lenders and intermediaries
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Three in four Brits fear New Year's Eve burglaries
7.4 million residents to stay at home for celebrations as a result
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Berkshire Hathaway buys Dutch reinsurer
$441m purchase brings company Christmas spending to almost $5bn
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2007 catastrophes cost Insurers $30bn worldwide
950 events in year is highest on record, says Munich Re
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Online onlyInsurance workers admit white collar crimes
New research shows people in respected professions frequently break the law
