Latest News – Page 2018
-
Online only
QBE withdraws names buyout proposal
Lloyd's 'archaic' annual venure system needs reform, says QBE boss
-
News
DWF targets claims handlers
Insurance specialist law firm DWF is looking to buy businesses to develop its claims handling expertise for insurance companies. The firm, which acts for Royal & SunAlliance and Norwich Union, confirmed it was in talks to acquire a number of businesses. Partner Anthony Hughes said DWF, which has offices ...
-
News AnalysisNew pricing to hit profits
Ofcom’s proposed new pricing charges for business rate telephone numbers could cut into company profits. Tom Flack reports
-
Backchat
Holding out for a hero
Has the power and reach of Backchat been under-estimated?We thought it was just the witty and humorous of insurance, who bothered scouring the back pages, but it seems the wider media has picked up on some of our featured stars.Just ask the newly-honed managing director of Hero Insurance Services, Paul ...
-
Backchat
Housing spat gives Hector a headache
If a recent High Court writ is anything to go by then the trials and tribulations of being the FSA boss will seem like child’s play.Hector Sants, the new chief executive, is reportedly preparing to go head-to-head with a City financier in a bitter row over the lapsed sale of ...
-
Backchat
Tutus on a mountaintop
If climbing the highest mountains in England, Scotland and Wales within 24 hours wasn’t testing enough then try doing it while looking pretty in pink.That was precisely the challenge faced by members of Aon’s mergers and acquisitions group (Amag) and knowledge management team as they threw off the shackles of ...
-
News
AXA in £100m broker acquisition drive
Broking operation aims to achieve £500m in annual premiums by end of year
-
News
Capita forms Lloyd’s syndicate to strengthen market position
Capita has made an aggress-ive move to strengthen its position in the Lloyd’s and London markets with the formation of a syndicate.The Lloyd’s syndicate, backed by CarVal Investors, has been established by CMGL Syndicate Management, a Capita Group subsidiary company.Syndicate 5500 will write the reinsurance to close (RITC) of Duncanson ...
-
NewsFurther consolidation fuels takeover talk
Further consolidation in the Lloyd’s insurance sector was forecast this week, causing a number of syndicates to stage a rally.Following Atrium Under-writing’s announcement that it was recommending a cash £193.2m offer from Bermudan Ariel Re, and with Canopius having recently been rumoured to have received an unsolicited approach from the ...
-
News
Co-op Financial cuts costs and 1,000 jobs
Co-operative Financial Services (CFS) is to cut its workforce by approximately 1,000 by the end of 2007 as part of a move to slash costs by £100m a year. The job losses amount to approximately 10% of employees at CFS and come three years after the division made 2,500 staff ...
-
News
Ariel Re acquires Atrium for £193m
Consolidation in the international insurance market is set to continue after Ariel Re became the latest major Bermudan reinsurer to take a stake in Lloyd’s.The reinsurer, which has $1bn of capital backing and is led by industry veteran Don Kramer, bought Lloyd’s managing agent, Atrium Underwriting, in a deal worth ...
-
News
Insurers square up to government over plans to build more homes on flood plains
Government committed to three million new homes, with 30% on brownfield sites
-
News
...and reinsurers escape claims
Reinsurance companies are set to escape any major loss from the flooding, which has crippled parts of the UK in recent weeks.Experts said reinsurance programmes were likely to remain largely untouched due to high retentions of primary insurers and the “168-hour rule” included in many reinsurance programmes.The rule means that ...
-
News
Biba targets fraud
Biba has called on brokers to do more to combat fraud and is setting up a committee to assist brokers to report fraud. Its initial focus will be to provide brokers with a single point of contact with insurers. “This is a genuine commitment between Biba and the ABI ...
-
News
Damon Blakey
In our issue of June 28, we reported on litigation brought by Towergate against a former employee, Damon Blakey, under the heading “Legal triumph for Towergate”. It was wrongly suggested that Mr Blakey had broken an order of the court. We accept that this statement was not true: ...
