Insurer
Admiral unveils US launch plans as Confused profit drops in face of competition
Admiral Group today announced plans to launch into America on the back of reporting a profit before tax of £202.5m for the year to December 2008, an increase of 11% over the previous year. Turnover, comprising total premiums and other revenue, rose 13%…
NU signs £700m outsource contract
Three hundred Norwich Union staff working at two of the insurer's data centres have transferred to a new employer after NU signed a 10-year £700m data centre services contract with HP-owned EDS.
Post web seminar - self service
Post is hosting a special web seminar - an online live and interactive event - at 10.00am on the 17 March which will take a strategic look at the issue of self-service technology and the implications this could have on the insurance sector - from sales…
Cobra acquires in Manchester
Cobra has acquired Manchester-based broker Thornway Insurances.
Another Lloyd's insurer redomiciles
Lloyd's insurer Beazley has unveiled plans to change corporate structure through creation of new parent company for the Beazley Group, incorporated in Jersey and tax resident in the Republic of Ireland.
Swiss Re shares up 5% after new of CEO replacement
Swiss Re shares were up in midmorning trading today, rising 5%, after news that it had replaced its chief executive, Jacques Aigrain.
Paul Meehan to take charge of Axa claims department in shake up
Axa is to move its claims operation will transfer into the customer experience team headed by Paul Meehan. It added the change is part of a continual move to better alignment and focus on customer experience.
RBS to keep its insurance businesses
The Royal Bank of Scotland has decided not to sell its insurance businesses.
Willis appoints new head of Manchester office
Willis has appointed Tony O'Gara as branch director of its Manchester office effective immediately.
RGA FY net income tumbles nearly 40%
US life reinsurer Reinsurance Group of America said that full year net income for 2008 tumbled nearly 40% after losses on investment securities spiralled.
RBS receives 'informal' bid for insurance business
Royal Bank of Scotland has received an informal offer for its insurance business according to a press report.
BGL looks to affinity arm for new MD of claims arm
The BGL Group have appointed a new managing director for its claims management business, ACM ULR.
Medical reporting firms gets £3.25m cash injection
Clevedon-based Medreport, which provides independent medical reports to the legal and insurance sectors, has secured £3.25m from Bank of Scotland Corporate to help it grow.
Zurich snags AIG senior exec to lead Dubai office
(Bestwire) Zurich Financial Services Group has appointed Saad Mered as its chief executive officer for the Middle East. His appointment is effective immediately.
RBS in £1.6bn disposal
The Royal Bank of Scotland has disposed of its 4.26% equity stake in Bank of China for a net consideration of £1.6 bn. RBS - which has also been looking at the potential disposal of its insurance businesses including Direct Line and Churchill - sold 10.8…
Aon UK CEO expects other brokers to be investigated
Aon UK chief executive Peter Harmer told Reinsurance Magazine that he expected other brokers to be investigated by the FSA following today's announcement that the broking giant had been fined a record £5.25m fine by the Financial Services Authority.