And also in the news …
Chaucer turns red to black
Chaucer announced profit before tax and foreign exchange on non-monetary items of £75.3m, after making a loss last year of £59.5m. Its pre-tax profit was up too, to £42m from a loss of £26.2m. Gross written premium was up 15.3% to £795.6m (from £689.9m), up 5.4% on a constant currency basis.
Bluefin lines up targets
Bluefin has confirmed its acquisition plans for the next three years. The AXA-owned broker said it has six acquisitions in the pipeline and the appetite for many more in the coming months.
QBE European Operations has revised its product underwriting and distribution structure. With immediate effect, QBE will operate four product underwriting divisions: casualty and motor; property; marine and energy; and reinsurance and specialist. QBE’s three distribution channels – London, UK national and Ireland, and Europe – will also come together to operate under one division.
Marsh to sell Kroll
Marsh & McLennan has put Kroll, its corporate investigations division, up for sale for around $1.3bn (£864m). The Carlyle Group, Apax Partners and General Atlantic have all entered bids.
Towergate double launch
Towergate Underwriting has launched a new online quote-and-buy trade product designed for musicians and entertainers; and a separate product for sole traders.
PowerPlace goes regional
PowerPlace has restructured its 36-strong field-based sales and consultant team into three regions. Each region will be managed by three newly appointed senior regional managers.