Insurer
"Disappointed" Snowball puts boardroom rift rumour to bed
Norwich Union executive chairman Patrick Snowball has spoken publicly for the first time since deciding to step down and join Towergate.
Consolidator outlines float plan to grow
Cobra, the UK-based retail and wholesale insurance broking group, today announced its intention to seek admission to trading on AIM and to raise £10m by way of a placing of ordinary shares with institutional investors.
Bollington acquisition boosts Groupama's broking business
Groupama UK has confirmed that it has completed the purchase of a majority shareholding in The Bollington Group for an undisclosed sum.
Jelf swoops again
Jelf Group has acquired the combined businesses of Cheltenham Insurance Brokers and Cheltenham Insurance Brokers Life and Pensions further expanding Jelf’s presence in Cheltenham.
Primary unveils new regional management structure
Primary has appointed three new regional managers. Each will be supported by a team of regional underwriting managers, senior underwriters and business development managers.
Zurich group income up 74% in first quarter
Zurich has reported $1.4bn in net income, up 74% in the first quarter of 2007, an annualized return on shareholder equity of 23.5 percent, and a business operating profit of $1.7bn (£850m).
Partner Re joins move to give capital back
In a move that confirms the trend to right-sizing capital as the reinsurance market softens, Bermudian reinsurer Partner Re has the approval an increase in the amount of shares it is authorised to buy back and cancel by a total of up to 5 million common…
Jelf acquires Aldershot-based broker
Jelf Group has acquired the business of Aldershot-based insurance broker Sunninghill Insurance Brokers, reports Post.
Post launches affinity focus
Post has launched a new series of focused, half-day seminars to complement its existing portfolio of events - the first of which will focus on the affinity market.To see the agenda go to: http://www.postevents.co.uk/affinity
Axa finally confirms Smart & Cook deal
Axa UK today claimed it had become the UK’s 2nd largest SME broker with the acquisition of leading independent commercial broker, Smart & Cook.
Heath Lambert in Scottish east coast move
Heath Lambert has relocated its Grampian operations to Aberdeen city centre, with a significant investment in a new, and larger, office.
RSA bosses in share windfall
Royal and Sun Alliance has awarded group chief executive Andy Haste shares under the firm's incentive plan worth in excess of £1.1m. The news comes as the group awarded a string of board directors including UK chief executive Bridget Mcintyre with shares…
Former Biba CEO Williams takes on new role
UKGI, the supplier of compliance and support services to insurance brokers throughout the UK, has announced two key appointments.
Axa deal for Smart & Cook moves a step closer
Harrogate-based consolidator Smart and Cook will be the next broker acquisition to be made by Axa, in what is understood to be a bid to help form a broker with £2bn in premium income, reports Richard Adams.
Aviva share scheme commended
Ifs ProShare, a not for profit organisation concerned with the issues of employee share ownership and financial education in the workplace, has commented on Aviva group's recent employee share option grant.
Aviva and Allianz buy into broker Jelf
Allianz Cornhill and Aviva have both bought stakes worth 10.1% in total in consolidator Jelf. The broker's share price has risen 6pence to 267 on the news.
Groupama makes £33.8m profit
Groupama has announced total revenues during 2006 rose 20% to £412.5m and the insurer has reported record pre-tax profits of £33.8m.
Lloyd's gets green light from Chinese regulator
Lloyd's announced today that it has received the formal licence document from the Chinese regulators to begin operations for its new reinsurance company in Shanghai, Lloyd's Reinsurance Company China Limited (LRCCL).
Finsure rebrands to RBS Finsure
Broking is tougher now than ever before, according to 94 % of insurance brokers.