All Finance articles – Page 132
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Douetil defiant as Brit takes a fall
Brit shares suffered a drop in price following the release of its third quarter trading update this week – even though analysts were happy with the company’s reassurances over sub-prime exposure and falling rates.Chief executive Dane Douetil said he expected rates to improve “in the next 12 months”, and the ...
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Hardy moves closer to Bermuda decision
Hardy has moved a step closer to redomiciling to Bermuda, with chief executive Barbara Merry travelling to the country on a fact-finding mission.Merry said Hardy was undertaking a “very comprehensive review” of the Bermuda market, and accused the Treasury of “making the situation worse” in denying tax cuts to the ...
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Brit chief: UK commercial rates stabilising
Premium volume up 4% in first nine months of 2007
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Fitch affirms Swiss Re's rating after £500m write-down
Fitch Ratings has affirmed Swiss Re's insurer financial strength (IFS) rating at 'AA-'. The otlooks for the rating is stable. The affirmation of the rating follows Swiss Re's announcement that it has written down CHF 1.2 billion pre-tax, or CHF 981 million after tax, from the value of two credit ...
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Motor market losses will increase, says Deloitte
The UK private motor market will fall further into the red in 2007, despite sustained rate increases during the year, according to Deloitte.The professional services firm said in a report that the motor market’s underlying loss would drop further from its 2006 performance before improving slightly in 2008, although still ...
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Kiln chief urges Lloyd’s to tackle sub-prime fall-out
Lloyd’s insurers should develop products to cope with the sub-prime fall-out, Kiln chief executive Edward Creasy said this week.Speaking at Lloyd’s, Creasy said the credit squeeze resulting from the crisis could lead to a lack of credit facilities for risk managers. He added that Lloyd’s should provide the answer to ...
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Groupama chief reveals broker buying strategy
Insurer plans to underwrite up to a fifth of Lark and Bollington business
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No regulatory breaks for market, says FSA leader
The FSA has said it will not hand regulatory breaks to the London market if the sole aim is to enhance competition with foreign markets. It emerged this week that Sarah Wilson, insurance sector leader at the FSA, told delegates at a high-level Treasury summit on the competitiveness of the ...
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Abbey plans acquisition drive after AIM flotation
Legal expenses insurer Abbey Protection is planning an acquisition drive after announcing intention to float on the AIM.The specialist insurer, offering products to SMEs within the legal expenses and tax related professional fees market, plans to make £5m of new money, resulting from the floatation expected to take place at ...
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Oval ramps up revenue target to £140m next year
Oval is to raise as much as another £50m to fund a major acquisition drive as it aims to more than double its revenues by the middle of next year. Chief executive Phillip Hodson said the consolidating giant was looking to raise the additional funds, which could take its war ...
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Guardian Holdings announces strong European growth
Guardian Holdings has announced strong operational performance for its insurance businesses for the third quarter of 2007, particularly in its European operations.The group produced an operating profit of $259.9m for the nine month period ended September 2007 and increased revenues of $3.7m vs $3.2m in the corresponding period in 2006.GHL ...
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Online onlyAt this rate, who knows?
The signs of the market hardening are growing – but the outcome is far from certain
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R&SA sacrifices volume for profitable growth
Royal and SunAlliance (R&SA) is prepared to continue to shed volume in order to pursue profitable growth, following a 5% decline in its commercial lines book.For the first nine months of 2007 R&SA’s commercial lines net premium fell by £67m to £1,206m, due largely to withdrawal of capacity in its ...
