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Brit points to underlying growth despite FX drag; again reassures on sub-prime
Brit Insurance Holdings said it was enjoying organic growth in its three main trading divisions, while again reassuring investors on the development of its sub-prime/financial liability exposures.
03 August 2009
Novae shares trade down on poor Q2
Shares in Novae Group traded down last week after the Lloyd's insurer posted a £2.1mn loss for the first half, driven by a £26mn hit from aviation reinsurance and credit insurance claims...
03 August 2009
RIMS: US insurance rates still under pressure
US insurance premiums are still under pressure as demand falls in the ongoing economic difficulties, according to the latest authoritative survey by the Risk and Insurance Management Society (RIMS).
03 August 2009
People moves
Cracknell appointed head of Aon Marine in UK; JLT Aerospace recruits Willis aviation chair as partner; Evolution adds to board, relocates...
03 August 2009
Auditor's liability exposures narrowed in Moore Stephens judgment
The House of Lords last week ruled that accountancy firm Moore Stephens is not liable for a failure to unearth an $89mn fraud at a commodity trader that it audited.
03 August 2009
Five-strong Aon Energy team defect to Willis
A London-based energy team focused on UK independents are leaving Aon to join the Global Energy division at rival broking giant Willis, The Insurance Insider understands.
03 August 2009
Independent Transatlantic boosts book value on higher profits
Transatlantic Re crowned its transition into a new era of independence with a 6.9 percent Q2 increase in book value per share to reach a record high of $53.57 at 30 June.
03 August 2009
Battle lines drawn as contingents debate fires up once again
The decision to allow AJ Gallagher to again charge contingent commissions on US retail business showed how polarised the debate over broker remuneration/transparency is, despite the efforts of the New York attorney general in 2004-05.
03 August 2009
Investors drive up broker shares following Illinois contingent deal
The big three global brokers saw their stocks trade up last week after the Illinois authorities decided to allow AJ Gallagher to again negotiate contingent commissions with insurers.
03 August 2009
FSA still to approve Chaucer's Russian-backed investor
Pamplona Capital Management, the Russian-backed private equity firm, is still waiting for clearance from the Financial Services Authority (FSA) to build a pivotal stake in the listed Lloyd's insurer Chaucer Insurance Holdings.
03 August 2009
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