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Marsh hires D&O specialist
Insurance broker and risk adviser Marsh has announced the appointment of Eleni Petros as senior VP in its Financial and Professional (FINPRO) Practice. Petros is a specialist in Directors’ and Officers’ (D&O) insurance, and will report directly to Charles Beresford-Davies, head of the Financial Services Division within FINPRO. She leaves behind Chartis, where she worked as Legal [...]
Posted on 8 February 2010 | 12:00 pm
Mazars call for proportionality in insurance reforms
International accountancy firm Mazars have called for a measured response to the proposed reforms of the insurance industry, arguing that the degree of systemic risk and size of the institution must be taken into account to allow insurers to manage the proposed reforms. There is a wave of reform heading in the direction of the insurance [...]
Posted on 8 February 2010 | 11:51 am
Giles ranked 13th in Sunday Times Buyout Track 100
Independent insurance broker Giles Insurance Brokers Ltd has been ranked 13th in the Sunday Times Buyout Track 100. The Buyout Track 100 rates companies backed by private equity with the fastest growing profits over the last two years. Over the period Giles’ profits have skyrocketed by 90% per year from £6.3m in 2007 to £22.8m last year. The [...]
Posted on 8 February 2010 | 11:13 am
Capita Insurance Distribution appoints director
Capita Insurance Distribution has a new business development director. Martin Williams will be responsible for driving business in new and existing markets with a specific focus on strategic partnerships. He will also contribute to the development of the affinity arm of the business with the aim of providing an increasingly structured approach to growth. Mr Williams has [...]
Posted on 8 February 2010 | 7:57 am
Crawford return to profit in Q4
Crawford & Company has announced its financial results for the year and quarter ended 31 December, 2009. In Q4 the firm generated consolidated revenues of $238.4m, down from the same quarter in 2008 when revenue was $262.9m. Attributable net income for the quarter was $8.9m, a 6% rise on the $8.3 net income of Q4 2008, with [...]
Posted on 8 February 2010 | 6:26 am
Kwik Fit reports strong sales
Kwik Fit Insurance has reported its strongest sales figures for a single day since the company was established in 1995. The Lanarkshire-based firm saw more than 2,000 new policyholders signing up to the Kwik Fit Insurance brand in just 24 hours, with sales of new car insurance policies topping 1,600, alongside 400 new home insurance [...]
Posted on 8 February 2010 | 3:22 am
Insurers warned on commission in corporate pension market
Some insurers are eroding their profits by competing for a larger slice of the UK corporate pensions market, The Guardian has reported. According to the newspaper, industry analyst Nick Cazalet is warning that several major insurers are competing fiercely for intermediary-arranged corporate pensions, despite evidence that much of the business will prove to be loss-making. Mr [...]
Posted on 8 February 2010 | 3:03 am
Aviva reports 21% rise in life and pensions sales
Aviva saw a 21% rise in worldwide life and pensions sales in the fourth quarter of 2009, to £8 billion, compared with the previous three month period. The group said it had put in a strong regional performance, with life and pension sales up 17% in the UK, 39% in Aviva Europe and 45% in the [...]
Posted on 7 February 2010 | 5:09 am
Aon report Q4 and 2009 profits
Aon Corporation has announced its financial results for 2009 and for the final quarter of the year. Attributable net income in Q4 was recorded at $198m, equating to $0.69 per share, comparing very favourably with the $6m loss incurred in the same quarter in 2008. However, for the year as a whole net income fell by almost [...]
Posted on 5 February 2010 | 12:52 pm
Willis appoints interim CFO
Willis Group Holdings plc has announced the appointment of Stephen E. Wood to the role of interim chief financial officer. He joined the firm four years ago, and brought with him almost two decades of industry experience. Previously, he had worked for Annuities at GE Life (UK), a subsidiary of General Electric, as divisional chief operating officer. Wood, [...]
Posted on 5 February 2010 | 6:42 am
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