Archive | August, 2010

Rumours abound surrounding possible succession at QBE

The rumours have been flying fast and furious recently when general and commercial insurance provider QBE Insurance reported that Frank O’Halloran will be succeeded by Peter Harmer as chief executive for the Australia-based compan

American professional indemnity insurer CNA announces new staff appointment

US-based professional indemnity insurer CNA has recently announced a new appointment to its upper management staff by naming Jerry Williams as the company’s new assistant vice president of its Business Development division.

Professional indemnity insurance loss adjuster announces new appointments

QuestGates, a specialist loss adjuster that offers professional indemnity insurance and other related services, recently released an announcement detailing the new appointments the firm has made in order to bolster its environmental team in regards to new claims handlers.

Warren Buffet considering purchase of Direct Line from RBS, experts speculate

While RBS has begun the vetting process in regards to selecting personal and business insurance experts in an advisory role for the sale of its Direct Line insurance arm, speculation that Warren Buffet is considering snapping it up to add to his already significant portfolio. Mr Buffet’s investment group, Berkshire Hathaway, has expressed an interest […]

More fallout from RBS insurance closures as hundreds in Glasgow are made redundant

In light of the Royal Bank of Scotland’s recent announcement of its shuttering of several of its personal and business insurance offices, Glasgow’s city centre will feel the heat when the financial group eliminates hundreds of existing positions.

European business insurance reinsurer Glacier Re announces portfolio run-off

European small business insurance reinsurer Glacier Re recently announced that it will be selling off its current portfolio in the wake of its subsidiary Glacier Insurance AG.

Professional indemnity insurance provider reports first half loss

Specialist indemnity insurance provider Ecclesiastical, an insurer that offers cover to churches, charities, and related organisations, recently announced a loss before taxes of £9.9 million for the first half of this year, which compares unfavorably to 2009’s firs half profits of £25.7 million.

RBS to close professional indemnity insurance office in Manchester

Troubled banking institution Royal Bank of Scotland, in an effort to cut jobs by 2,000, recently announced its intention to close is to close one of its personal and commercial insurance offices in Manchester.

Fortis UK announces first-half numbers to general and business insurance lines

General and business insurance provider Fortis UK announced it’s 2010 first half written premiums in its non-life markets increased by 16.6 per cent to £468.4 million, saying that its pre-tax profits of £8.4 million were an improvement in comparison to its 1st quarter loss of £3.2 million, but still vastly behind its £26 million first half profits from 2009.

Suncorp’s GI division posts improvements despite weather losses

Australia-based Suncorp, a financial services provider that offers both general and business insurance to its customers, announced recently that its general insurance arm posted an after-tax profit of A$558 million (£319.5 million) for the first half of this year ending on the 30th of June, a 34 per cent improvement on its A$416 million figure produced in 2009, all despite Perth and Melbourne-based weather events.