Latest News – Page 1983
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News
Syndicates face fund ‘double whammy’
Lloyd’s syndicates writing high risk business could be forced to pay larger central fund contributions, under proposals being considered by Lloyd’s.Lloyd’s chief executive Richard Ward told the Association of Lloyd’s Members (ALM) conference that the corporation was considering setting individual central fund contributions based on the risk profile of each ...
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News
Amlin buys Allied Cedar to strengthen UK property book
Amlin has mounted a bid to boost its flagging UK property division by acquiring Allied Cedar Insurance Group.The company, which is divided into Allied Under-writing Agencies and Cedar Insurance Company, will be integrated into Amlin Insurance Services, the UK commercial division of the Amlin group.The acquisition of Allied Cedar, which ...
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News
Gable reports £6.2m GWP in first year
Gable Holdings, the AIM-listed construction insurance specialist, reported gross written premiums of £6.2m for the year ended 31 December 2006.It recorded a loss before tax for the year of £0.24m, owing to a “very cautious view on its reserving policy”. Gable Insurance began writing its first business in ...
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News
Financial news…
Gerling bought outCaribbean financial service giant Sagicor purchased the Gerling at Lloyd's Group. Sagicor said the acquisition gave it an entry to the London market. Mobile Doctors deal Mobile Doctors agreed to take on all ongoing cases for IMS Litigation Services and IMS Legal Indemnity after IMS collapsed last ...
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Web news…
R&SA subsidence claimsRoyal & SunAlliance (R&SA) said it would transfer the handling of subsidence claims to two specialist subsidence management companies, InFront Innovation (IFI) and Crawford & Co. The changes will result in around 30 roles being transferred to IFI from R&SA. First published on 29 JuneMacquarie launchMacquarie Bank is ...
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News
Westinsure signs up 100th member
Broker alliance Westinsure has signed up its 100th member, Metcalf Insurance Services. The addition of the Stockport broker brings Westinsure’s controlled premium to £200m. Denis Morgan, managing director of Westinsure, said the alliance was on track to hit £250m GWP by the end of the year with around 125 members ...
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Web news...
OFT clears Sirius buy-outSSP’s acquisition of Sirius was given the all clear by the Office of Fair Trading (OFT). The OFT has the power to stop a takeover taking place if it finds that the combined company results in the “lessening of competition in the market”. The OFT said that ...
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News
Government to block terror attack fund plans
Insurers will not have to fund overseas terror pool
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News
Companies losing appetite for offshore call centres
Rising personnel costs and a poor perception of customer service are reducing the attractiveness of offshore call centres, according to a new study.Wage inflation of up to 15% per year in places like India is restricting the amount of money that companies can save by outsourcing, according to research by ...
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News
Fletchers to become a limited company
Southport-based Fletchers Solicitors is gearing up for the implementation of the Legal Services Bill by finalising plans to becomea limited company.The legal firm, which specialises in road traffic accident claims, is abandoning its partnership structure. It hopes it will be a more attractive acquisition target for insurers who want to ...
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FeaturesTop insurance brokers: Midlands
Brokers from around the Midlands gathered in Birmingham at the Insurance Times Midlands broker event.
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FeaturesRound Table: Uncertainty in the market
Insurance Times together with our partner, Groupama, held a round table discussion where a panel of experts gave their views on the state of the Midlands market and the issues it faces
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Join our panel and earn a range of benefits
Are you a proprietor, chief executive, managing director or other senior executive of an independent broking firm? Insurance Times – the voice of the independent broker – is looking to widen its senior executive broking panel, a select group that collectively advises the editor on topical issues of concern in ...
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One word, two syllables. Aon?
Aon’s 1980s-themed summer press party at the Museum of Brands saw a revival of TV’s favourite old game show Give us a clue.The likes of Lionel Blair and Una Stubbs were replaced by Aon brokers and hacks who fought hard in a fierce battle of gesticulations and curious poses. Aon’s ...
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News
UK captive market ‘nearing saturation’
The UK captive market is close to “saturation point”, according to a new study.Research by Aon said the use of captives by large companies in the UK was extremely common. Of those surveyed, 79% held a captive at parent level, it said.On a global scale, however, the captive market remains ...
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Lloyd’s warned of ‘talent drought’
Lloyd’s is in danger of suffering a “talent drought” unless new recruits come into the industry in the next few years, research has revealed.A survey of Lloyd’s managing agents by Hays Insurance has revealed that the market faces a talent shortage due to the lack of graduate schemes in place.The ...
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News
Stop the flood fraudsters
Insurers need to strike a fine balance between compassion and efficiency over the next few months, as the aftermath of the recent floods takes its toll.While it is important to deal with immediate concerns, such as providing householders with appropriate alternative accommodation, robust systems to guard against fraudulent claims need ...
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FeaturesQuality insurance
Gibraltar is becoming a haven for a growing number of insurers, but the regulator is keen to maintain the colony’s reputation for quality businesses. Anita Anandarajah reports
