Latest News – Page 1966
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News
JLT shares fall on warning
Shares in Jardine Lloyd Thompson fell sharply this week after the broker warned of tough market conditions in the second half of the year. Despite posting pre-tax profits of £76.6m for the six months to 30 June, up 63.3% on the same period last year, the share price fell ...
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Erinaceous shares dive but HBOS stays in takeover race
HBOS continues to be linked with Erinaceous group, despite reports last week that the bank was poised to withdraw from the takeover race.Shares in the property group fell further to 175p on Monday – their lowest mark since late 2004 – following a 5% dive on Friday last week.A spokesman ...
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Financial news...
Willis income rise Willis reported net income for the second quarter of 2007 increased 8% to $78mAon risk business growsRevenues at Aon's UK Risk Consulting business increased 14% for the second quarter of 2007, to $218m with organic growth of 6% excluding contingent commissions. Munich Re hits €2.1bnMunich Re ...
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Floods will not impact insurer ratings
The household insurance market is set to make a nearly unprecedented net loss of at least £110m after investment returns are taken into account as a result of the flooding, according to Deloitte. Catherine Barton, a partner at the professional services firm, said 2007 would be the worst year for ...
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ABI and Home Office in talks on sharing fraud data
Discussions are underway between the ABI and the government on the sharing of fraud data which could see benefits cheats and tax dodgers blacklisted by insurance companies.The talks are looking at how information on fraudsters held by government agencies and other public bodies could be shared with the insurance industry. ...
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China status is overstated, says Reith
Ascot chief Martin Reith has questioning Lloyd’s fixation on China, warning that commercial opportunities in the country may be overstated.Reith said he was puzzled by the focus on China when having a presence in other markets made more commercial sense for UK companies.He said: “I’m not convinced there is profitable ...
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Ascot blasts ‘sloppy’ underwriters
Chief executive hits out at undisciplined underwriting at Lloyd’s
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Direct Group looks to grow following £40m MBO
Insurance service provider Direct Group is to hit the acq-uisition trail following a £40m management buy-out backed by a private equity firm.The buy-out was led by former GAB Robins boss Derek Coles who joined Direct Group last year. Coles, who becomes chief executive of the group, said he would now ...
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News in brief…
Slade Edwards recruitedSlade Edwards joined Broker Network, bringing the total number of firms recruited to 169. First published 6 AugustAlan & Thomas CII claim Alan & Thomas Insurance Brokers claimed to be the first privately-owned firm in Dorset to gain CII chartered status. First published 6 August Equity buys SquibbsEquity ...
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Lloyds TSB to develop SME broker offering
Bank to offer propositions for health, motor fleet and property insurance
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Towergate profits soar as sales pass £700m
Towergate Partnership saw its profits soar in the first half of 2007 as its sales surpassed £700m.The consolidator giant reported earnings up 37% year on year to £67m in the six months to 30 June 2007, while income rose by over 32% to £161m. Total sales in terms of gross ...
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Lloyd’s must cut personal lines costs
The Lloyd’s Market Association (LMA) is calling for the administrative burden on motor and other personal lines insurers to be reduced in order to maintain the competitiveness of Lloyd’s. The LMA set up a working party in March to look at the costs of conducting personal lines business at Lloyd’s. ...
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Warning over foot and mouth
Farms and other businesses are being warned that more comprehensive insurance cover and contingency planning is needed to deal with losses as a result of the latest foot and mouth outbreak.Law firm Reynolds Porter Chamberlain warned that farms and other businesses are unlikely to have insurance to cover the losses ...
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Online onlyCarbon emission output offset by broker
RK Shipman offers new household policy which offsets carbon omissions
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Online onlyNew code launch looks to radicalise rehab
Launch of new code aims to get injury lawyers and insurers working together
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Online onlyStand alone motor PPI is cheaper
Broker advises that it is time to shop around for PPI policies
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Online onlyOn the acquisition trail
CCV continues to expand rapidly buying roughly one regional broker every month
