One Call deal
Essex-based damage management company DRL has formed an alliance with One Call to merge into One Call's subsidiary CA+RE (claims advisors and restoration experts).
One Call dealEssex-based damage management company DRL has formed an alliance with One Call to merge into One Call's subsidiary CA+RE (claims advisors and restoration experts).The CA+RE system, piloted by Lloyds TSB Insurance, provides claims management for building works, restoration, replacement and emergency response to fire or water damage. DRL said the deal was expected to come into effect by the end of April 2004.
Yourmove for saleAviva has put its estate agent subsidiary, Yourmove, up for sale, revealed a report. The profitable network, with 300 branches, is worth an estimated £50m.
P&I clubs improvingUnderwriting results across the International Group (IG) of P&I clubs are improving, but losses remain unacceptably high, said ratings agency Standard & Poor's. S & P said it expected 2004 to be a watershed year for the P&I clubs, with rate increases during the year expected to move the market closer to underwriting profitability in February 2005 and February 2006.
London up £0.5bnThe London market enjoyed positive cash flow of more than £2.5bn during 2003, revealed figures from the International Underwriting Association (IUA). It said this figure was an increase of over £0.5bn on the 2002 figures and nearly a ten-fold increase on 2001.
Aquilo AIM entryAquilo announced it is to seek entry into AIM, and said successful listing and further fundraising would allow further expansion of the business. It said following a year of consolidation on claims management and advisory services, the company would now begin an aggressive expansion.
Kinnect's first stepThe Kinnect system has handled its first complex open market risk, announced Lloyd's. A US commercial policy risk was transferred from Willis to Amlin using the Kinnect platform.