Bermuda insurer writes Japanese business.
Hardy's Japan book
Hardy Underwriting Bermuda has begun underwriting a book of Japanese “kyosai” – or mutual cooperative – business. The business, which is predominantly household, is being underwritten on a reinsurance basis with an initial estimated gross annual income, after commissions, of about £10m for 2009.
Endurance targets Lloyd’s
Bermuda insurer Endurance is looking at a number of potential Lloyd’s targets. “We’ve looked at 12 Lloyd’s opportunities but have found nothing as yet,” said Ken LeStrange, Endurance’s chief executive.
CCV buys into Kent broker
Cullum Capital Ventures (CCV) has acquired a stake in Kent broker Capital and County. The business, which has a GWP approaching £12m, has a sizeable commercial account with particular specialism in the motor trade and the construction industry.
Omega profit up 20%
Profit at Omega Insurance Holdings soared in the
first half of the year. The insurer reported pre-tax profit of $24.5m (£13.9m) in the first six months of the year, up 20% on the first half of 2007. Premium income rose 7% to $185.9m (£105.5m). The combined ratio slipped two points
to 84%.
Abbey Legal growth
Legal expenses provider Abbey Legal Protection reported first-half pre-tax profits of £3.9m, up 13% on the same period last year. The company, which is listed on the Alternative Investment Market, said revenues had grown 8% to £14.5m in the six months to 30 June 2008.
