CFC underwriting revenues up 65%

REVENUE UP 65% AT CFC

  • Revenue at specialist lines underwriter CFC is up 65% and operating profit has doubled to £1.8m. The underwriting agent said the growth was the result of quality products and high service levels.

XL WINS COURT BATTLE

  • XL Insurance has won a court battle proving a policyholder was not responsible for a burst water main that caused £4m worth of damage in west London in 2004. XL had insured pipe manufacturer Johnston Precast for public liability.

EGG APOLOGOSES

  • Egg has apologised to customers after being fined £721,000 by the FSA for mis-selling payment protection insurance between January 2005 and December last year.

JLT RE OPENS BERMUDA ARM

  • JLT Re has announced the launch of its treaty reinsurance operation in Bermuda. The business will be headed by Antony Ainsworth.

£35m PAYOUT HITS LLOYD'S

  • Lloyd’s reinsurers are among the companies ordered to make a £35m payout to Korea National Insurance Corporation following a helicopter crash into a warehouse on the outskirts of Pyongyang in April 2005. The payout will be made by three Lloyd’s syndicates and a host of foreign reinsurers.

KITSON BLOG ON REBRAND

  • John Kitson, sales and marketing director at Norwich Union, is to write an exclusive blog for insurancetimes.co.uk on the insurer’s rebranding to Aviva. His first entry will appear before Christmas.

Topics