Wellington reduces
Wellington Underwriting has reduced its stake in the Bermudian-based insurer Aspen Insurance Holdings to just under 20%, or 1.1 million shares.
R&SA reserves enough
Royal & SunAlliance (R&SA) has said it had adequate reserves to meet the increase in asbestos-related compensation. In the third quarter, R&SA set aside a further £250m to meet its growing liabilities.
L&G buys more SVB
Legal & General Investment Management has acquired a further 550,000 shares, or 0.28%, in SVB Holdings, taking its holding to 8.3 million shares.
Budget contact grows
Personal lines intermediary Budget Group is expanding its contact centre capacity. It is opening a new centre in Sunderland with 60 employees.
NW Group sold
Dukes Place, a group that specialises in buying run-off operations, bought NW Group from Norwich Union Holdings, Winterthur and Aioi Insurance Company of Europe. The deal brings Dukes Place's total assets to at least $1.3bn (£790m) and net asset value of $250m (£152m).
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
