Commercial
News round-up: Insurers
Brit has formally accepted an offer of £888m from Apollo Management and CVC Capital Partners. The deal if agreed by shareholders is £10.75 for each share plus a further 25p if targets are met.
Brokers strive for growth with series of recent acquisitions
Access Insurance, Cullum Capital Ventures (CCV) and LFC Insurance Group have all revealed ambitious growth targets following a spate of recent acquisitions.
Quinn case sheds light on periods of limitation
A recent High Court ruling in favour of Quinn Insurance has clarified the law regarding the timeframe for submitting claims where an insurer has denied liability, according to law firm Browne Jacobson.
E-commerce: Insurers urged to make MTA and renewal options available online
Brokers have called for insurers to include mid-term adjustment (MTA) and renewal facilities as part of their online small commercial offerings.
Fledgling underwriter expands commercial lines with D&O move
Manchester Underwriting Management (MUM) has unveiled plans to move into the directors' and officers' (D&O) market.
Reportage - FSCS redress: Speak now...
Colin Darnell gives practical advice on how brokers can act to mitigate the significantly increased FSCS levy as well as potentially help shape future funding arrangements.
Product launch: Frost Cover collaboration
Commercial gritting organisation Gritit and risk management specialist CelsiusPro have announced the release of winter insurance product Frost Cover Certificates.
Analysis of top 100 brokers reveals market share increase
The UK broking market has weathered the economic storm well with the top 100 brokers managing to increase their market share, according to Insurance Age's 2010 Top 100 Independent Brokers supplement.
MGAA to clear 'mist of confusion' surrounding MGAs
The Managing General Agents' Association (MGAA) has claimed it will establish a clear differentiation between prospective members and the broking community as it gears up for launch this month.
LV Broker sets sights high on £1bn worth of business in first decade
LV Broker has revealed it is aiming to write £1bn worth of business by 2015, less than 10 years after its launch.
Allianz sharpens regional focus with Newcastle plans
Allianz Commercial has announced its intention to expand its regional branch network with the opening of a new office in Newcastle.
Apollo-CVC offer accepted
Brit Insurance has agreed a cash offer from Apollo Management and CVC Capital partners in a deal valued at about £888m, which will result in shareholders receiving up to £11 a share.
Vacancy remains for Axa chief
Axa Insurance is still searching for a new commercial lines chief following a restructure of its UK business.
Product launch: Brokers warned of 'Jack of all trades'
Groupama has warned scheme brokers of the dangers posed by an increase in business diversification.
Marsh raids Towergate for senior network hires
Marsh has announced that Mike Rogers will replace Bruce Fertnig as head of Marsh ProBroker.
Powerplace closer to "perfect panel" with Aviva on board
Aviva has joined Powerplace’s panel of insurers.
Aritsa targets South Wales growth with new hire
Commercial lines underwriting specialist Arista Insurance has appointed Mark Chichester as senior underwriter to help develop the South Wales market and enhance its technical proposition to brokers in the area.
Oxygen poaches two senior hires from Aon to boost construction arm
Oxygen Insurance Brokers (Oxygen) has hired two new senior brokers as part of its plan to target further growth in the construction related professions.
Axa's UK personal motor revenues up 35% in first nine months 2010
Property & casualty revenues in the first nine months of 2010 were up 0.7% to €21.4bn across the group at Axa. The UK & Ireland saw a 1.4% increase compared to the same period of 2009 to €3.2bn.
Besso launches online commercial MGA
Besso Group has launched a managing general agent (MGA), named Gladstone Underwriting, to provide a “unique” online commercial underwriting facility.
APC launches fast food insurance offering in Ireland
Commercial insurance underwriting agency APC is launching a bespoke takeaways product designed to cover single or multiple shops and fast food franchises trading in Ireland.
Keelan Westall raids Powerplace again for senior hire
Keelan Westall – part of the property and commercial division of Barbon Insurance Group – has appointed Damian Baxter as head of sales with responsibility for facilitating growth both in existing and previously untapped markets.
Broker claims debate
Claims are a thorny issue at the best of times but when credit-hire organisations and accident management companies are involved, it seems everyone gets prickly.
Liberty boosts UK property team with hires from QBE and CNA
Liberty International Underwriters Europe (LIU Europe), a division of Liberty Mutual Group, has made three new regional appointments to its UK property insurance team.