Insurer
XL launches new combined product for UK businesses
The XL Group has launched a new combined product incorporating liability, property and business interruption covers.
Sometimes insurers are the victims ... no, really.
Without doubt my favourite story of the last week was that of the Limerick man who went on hunger strike in protest at Axa’s refusal to pay out on a €24,000 motor claim. Hunger strike is a particularly extreme reaction and particularly emotive in that…
Catlin makes hire for contingency business
Catlin Group has hired Simon Lyons as a class underwriter specialising in contingency insurance.
Direct Line reports 25% jump in profit
Direct Line Group, the insurance arm of Royal Bank of Scotland, has reported an operating profit of £84m for the first three months of 2012.
Aviva humiliated by shareholder pay revolt
Aviva’s shareholders have humiliated the insurer by voting against its remuneration package at the annual general meeting in London.
RBS pumps another £125m into PPI compensation fund
RBS is set to follow Lloyds Bank’s example and put more money into its payment protection insurance (PPI) compensation fund, according to reports.
Chartis makes senior energy appointment
Chartis has looked within for its new UK head of energy.
L&G reports 17% hike in general insurance premiums for Q1
Legal & General (L&G) has reported gross premiums of £83m for the first quarter of 2012.
RSA reports positive start to 2012 with premiums up 5%
RSA has reported a 5% improvement in net written premiums in the first three months of 2012, up to £2.2bn from £2.1bn in the same quarter of 2011.
Novae reports 5% improvement on GWP for Q1
Novae Group has reported gross written premium (GWP) of £231.1m for the first three months of 2012.
CFC appoints new BDM in push for UK growth
CFC has appointed Chris Gilson as UK and Ireland business development manager.
Ink increases PI footprint with IRS acquisition
Ink Underwriting Agencies has acquired Indemnity Risk Solutions (IRS).
Marsh sells part of HSBC business to R K Harrison
R K Harrison has acquired a portfolio of four businesses from Marsh UK.
AA calls for less talk, more action on whiplash claims
The AA has called for the government to take action on whiplash, and said it hopes the second insurance summit will be the “last talking shop”.
RBS approached by private equity firm over Direct Line sale
Direct Line's parent company Royal Bank of Scotland (RBS) has received an informal expression of interest from a new private equity firm, according to the FT.
ABI accused of playing 'cynical and duplicitous game' over portal fees
The Association of British Insurers (ABI) has reportedly advised members to start negotiating with offers of £150 for legal fees in low value claims.
Lloyd's puts another £375m towards PPI provision
Lloyd’s Banking Group has set aside a further £375m to cover claims from customers who were mis-sold payment protection insurance (PPI).
Reportage: Lighting up the regions
Insurers are moving underwriting decisions to regional centres, but will this really benefit brokers and is the new model sustainable? Edward Murray finds out
Products: Kiln heads for new pastures with appointment of equine underwriter
Kiln has appointed a new equine underwriter in preparation for developing products in that area for the first time.
Products: NIG to undertake funeral director scheme’s underwriting
NIG has won the contract to underwrite the Lark Group’s SAIFInsure scheme from Axa.
Products roundup: Telematics take up gains pace
There were a wide range of products launched in the last month, with numerous markets catered for, from equine risks to vacant commercial properties.
Editor’s letter - May 2012
“The real concern for brokers is that all this change creates a deep sense of uncertainty”
Review: Top down protection
Management Liability Plus: This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
Biba 2012: Manchester calling
With the Biba conference taking place on 16 and 17 May, we look at what you can expect at this year’s event and which sessions are a must see for brokers